MGM Resorts International (NYSE: MGM) At $35.30 Is Worth A Gamble – Marketing Sentinel
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MGM Resorts International (NYSE: MGM) At $35.30 Is Worth A Gamble

During the recent session, MGM Resorts International (NYSE:MGM)’s traded shares were 0.78 million, with the beta value of the company hitting 2.17. At the last check today, the stock’s price was $35.30, reflecting an intraday loss of -0.42% or -$0.15. The 52-week high for the MGM share is $51.17, that puts it down -44.96 from that peak though still a striking 25.18% gain since the share price plummeted to a 52-week low of $26.41. The company’s market capitalization is $14.49B, and the average intraday trading volume over the past 10 days was 4.85 million shares, and the average trade volume was 6.03 million shares over the past three months.

MGM Resorts International (MGM) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 2.20. MGM has a Sell rating from 0 analyst(s) out of 19 analysts who have looked at this stock. 7 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 10 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.23.

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MGM Resorts International (NYSE:MGM) trade information

MGM Resorts International (MGM) registered a -0.42% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -0.42% in intraday trading to $35.30 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 8.71%, and it has moved by 20.01% in 30 days. Based on these gigs, the overall price performance for the year is -4.88%. The short interest in MGM Resorts International (NYSE:MGM) is 18.87 million shares and it means that shorts have 3.05 day(s) to cover.

The consensus price target of analysts on Wall Street is $52.12, which implies an increase of 32.27% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $40.00 and $72.00 respectively. As a result, MGM is trading at a discount of -103.97% off the target high and -13.31% off the low.

MGM Resorts International (MGM) estimates and forecasts

Statistics show that MGM Resorts International has outperformed its competitors in share price, compared to the industry in which it operates. MGM Resorts International (MGM) shares have gone down -18.77% during the last six months, with a year-to-date growth rate more than the industry average at 240.30% against 11.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 276.90% this quarter and then jump 800.00% in the quarter after that. In the rating firms’ projections, revenue will increase 27.40% compared to the previous financial year.

Revenue for the current quarter is expected to be $3.04 billion as predicted by 14 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $3.23 billion by the end of Sep 2022.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 4.70%. While earnings are projected to return 219.60% in 2022.

MGM Dividends

MGM Resorts International is due to release its next quarterly earnings between November 01 and November 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for MGM Resorts International is 0.01, with the dividend yield indicating at 0.03 percent, continuing the trend of increasing dividends in recent years.

MGM Resorts International (NYSE:MGM)’s Major holders

MGM Resorts International insiders own 17.97% of total outstanding shares while institutional holders control 72.12%, with the float percentage being 87.92%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 917 institutions own stock in it. As of Mar 30, 2022, the company held over 41.8 million shares (or 9.81% of all shares), a total value of $1.48 billion in shares.

The next largest institutional holding, with 25.4 million shares, is of Blackrock Inc.’s that is approximately 5.96% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $898.53 million.

Also, the Mutual Funds coming in first place with the largest holdings of MGM Resorts International (MGM) shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. Data provided on Mar 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 11.13 million shares. This amounts to just over 2.61 percent of the company’s overall shares, with a $393.94 million market value. The same data shows that the other fund manager holds slightly less at 8.76 million, or about 2.06% of the stock, which is worth about $309.87 million.

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