In the last trading session, 9,590,672 shares of the MGM Resorts International (NYSE:MGM) were traded, and its beta was 2.47. Most recently the company’s share price was $41.52, and it changed around -$0.18 or 0% from the last close, which brings the market valuation of the company to $20.55 Billion. MGM currently trades at a discount to its 52-week high of $42.74, offering almost -2.94% off that amount. The share price’s 52-week low was $11.77, which indicates that the current value has risen by an impressive 71.65% since then. We note from MGM Resorts International’s average daily trading volume that its 10-day average is 8.64 Million shares, with the 3-month average coming to 9.65 Million.
MGM Resorts International stock received a consensus recommendation rating of Hold, based on a mean score of 2.7. If we narrow it down even further, the data shows that 1 out of 17 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 10 recommended MGM as a Hold, whereas 5 deemed it a Buy, and 1 rated it as Underweight. MGM Resorts International is expected to report earnings per share of -$0.84 for the current quarter.
MGM Resorts International (NYSE:MGM): Trading Information
Although MGM has showed a red trend with a performance of -0.43% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $42.74 on Tuesday, Apr 06 increased the stock’s daily price by 2.85%. The company’s shares are currently up 0.32% year-to-date, but still up 0.1173 over the last five days. On the other hand, MGM Resorts International (NYSE:MGM) is 0.12% up in the 30-day period. We can see from the shorts that 13.67 Million shares have been sold at a short interest cover period of 1.42 day (s).
The consensus price target as assigned by Wall Street analysts is $38.58, which translates to bears needing to reduce their stock price by -7.08% from its current value. Analyst projections state that MGM is forecast to be at a low of $28 and a high of $50. In order for the stock price to hit the forecast high, the stock would need to surge +20.42% from its current level, while the stock would need to crash -32.56% from its current level to reach the projected low.
MGM Resorts International (MGM) projections and forecasts
MGM Resorts International share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +91.69 percent over the past six months and at a 8.91% annual growth rate that is well below the industry average of 22.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -151.2% in revenue this quarter, and will report an increase of 60.5% in the next quarter. The year-over-year growth rate is expected to be 66.2%, up from the previous year.
Consensus estimates provided by 12 financial analysts predict the company will bring in an average of $1.56 Billion in revenue for the current quarter. 12 analysts expect MGM Resorts International to make $1.88 Billion in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $2.25 Billion and $289.81 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -30.8%. Forecasts for the next quarter put sales growth at 547.9%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -19.6%. MGM Resorts International earnings are expected to decrease by -152% in 2021, but the outlook is negative 0% per year for the next five years.
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MGM Dividend Yield
MGM Resorts International’s next quarterly earnings report is expected to be released around April 28, 2021. The annual dividend yield of the stock is 0.03 percent and its annual dividend per share was $0.01. It is important to note, however, that the 0.03% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
MGM Resorts International (NYSE:MGM)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 14.57% of MGM Resorts International shares, and 67.12% of them are in the hands of institutional investors. The stock currently has a share float of 78.58%. MGM Resorts International stock is held by 783 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Dec 30, 2020, it held 8.76% of the shares, which is about 43.38 Million shares worth $1.37 Billion.
Blackrock Inc., with 5.73% or 28.37 Million shares worth $894.05 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Price (T.Rowe) Mid Cap Growth Fund were the top two Mutual Funds as of Dec 30, 2020. The former held 11773566 shares worth $370.99 Million, making up 2.38% of all outstanding shares. On the other hand, Price (T.Rowe) Mid Cap Growth Fund held roughly 10Million shares worth around $315.1 Million, which represents about 2.02% of the total shares outstanding.