Is Wall Street High Or Low On MGM Resorts International (MGM)?


MGM Resorts International (NYSE:MGM) finished Thursday with a subtraction of -$2.17 to close at $30.61, a downside of -6.62 percent. An average of 7,081,480 shares of common stock have been traded in the last five days. There was a fall of -$3.82 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 5,557,680 shares traded, while the 50-day average volume stands at 4,763,256.

MGM stock has decreased by -10.76% in the last month. The company shares reached their 1-month lowest point of $30.40 on 09/22/22. With the stock rallying to its 52-week high on 02/10/22, shares of the company touched a low of $26.41 and a high of $51.17 in 52 weeks. It has reached a new high 5 times so far this year and lost -31.80% or -$14.27 in price. In spite of this, the price is down -40.18% from the 52-week high.

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Insider Transactions

44 days have passed since MGM Resorts International (MGM) last reported insider trading activity. TAYLOR DANIEL J, who is Director, most recently acquired $4,499 shares at $34.41 per share on Aug 10. In this transaction, the insider spent $154,811. CHIEF OPERATING OFFICER, SANDERS COREY IAN, disposed of 10,000 shares at a price of $36.00 on Aug 04. The insider now owns more than $360,000 worth of shares. Prior to that, CHIEF OPERATING OFFICER SANDERS COREY IAN went on to Sale 796 shares at $44.14 each on Apr 21. An amount of $35,134 was transacted.

Valuation Metrics

MGM Resorts International (MGM) has a trailing price-to-earnings (P/E) ratio of 4.28. The stock’s beta is 2.10. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 1.05, the price-to-book (PB) ratio at 2.23, and the price-to-cash flow ratio at 9.19.

The company has a payout ratio of 0.10%. The company’s most recent quarterly dividend payment was $0.0025 a share, without any change from last year. Its latest increase dividend $0.0005 reported on Wednesday August 4 2021.

Financial Health

The quick ratio of MGM Resorts International for the three months ended March 30 was 1.60, and the current ratio was 1.70, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.26 and a total debt to equity ratio of 1.49 for the quarter ending March 30. Its gross profit as reported stood at $4.65 billion compared to revenue of $9.68 billion.

Earnings Surprise

For the three-month period that ended March 30, MGM Resorts International had $7.11 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $1.78 billion in the quarter, while revenues were grew 94.13%. The analyst consensus anticipated MGM Resorts International’s latest quarter earnings to come in at -$0.09 per share, but it turned out to be $0.01, a 111.10% surprise. For the quarter, EBITDA amounted to $2.76 billion. Shareholders own equity worth $393.1 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at MGM Resorts International (MGM) price momentum. RSI 9-day as of the close on 22 September was 31.08%, suggesting the stock is Neutral, with historical volatility in this time frame at 57.14%.

As of today, MGM’s price is $33.14 -11.09% or -$3.82 from its 5-day moving average. MGM is currently trading -11.71% lower than its 20-day SMA and -25.41% lower than its 100-day SMA. However, the stock’s current price level is +5.41% above the SMA50 and -27.48% below the SMA200.

The stochastic %K and %D were 33.08% and 47.53%, respectively, and the average true range (ATR) was 1.53. With the 14-day stochastic at 3.78% and the average true range at 1.44, the RSI (14) stands at 36.83%. The stock has reached -1.13 on the 9-day MACD Oscillator while the 14-day reading was at -1.09.

Analyst Ratings

Argus downgraded MGM Resorts International (NYSE: MGM) to a a Hold rating in its most recent analyst report. Previously, the stock was rated as a Buy. The consensus rating for MGM Resorts International (MGM) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell MGM, while 6 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 3 analysts, while 9 others rate it as a “buy”.

What is MGM’s price target for the next 12 months?

Analysts predict a range of price targets between $40.00 and $72.00, with a median target of $55.00. Taking a look at these predictions, the average price target given by analysts for MGM Resorts International (MGM) stock is $52.41.


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