MGM Resorts International (NYSE:MGM) has a beta value of 2.10 and has seen 5.68 million shares traded in the last trading session. The company, currently valued at $14.03B, closed the last trade at $34.57 per share which meant it gained $0.21 on the day or 0.61% during that session. The MGM stock price is -48.02% off its 52-week high price of $51.17 and 23.6% above the 52-week low of $26.41. If we look at the company’s 10-day average daily trading volume, we find that it stood at 6.17 million shares traded. The 3-month trading volume is 4.96 million shares.
The consensus among analysts is that MGM Resorts International (MGM) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 3 rate it as Overweight. 6 out of 18 have rated it as a Hold, with 9 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.23.
MGM Resorts International (NYSE:MGM) trade information
Sporting 0.61% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 09/20/22 when the MGM stock price touched $34.57 or saw a rise of 1.71%. Year-to-date, MGM Resorts International shares have moved -22.97%, while the 5-day performance has seen it change 2.07%. Over the past 30 days, the shares of MGM Resorts International (NYSE:MGM) have changed -0.46%. Short interest in the company has seen 18.87 million shares shorted with days to cover at 3.05.
Wall Street analysts have a consensus price target for the stock at $52.41, which means that the shares’ value could jump 34.04% from current levels. The projected low price target is $40.00 while the price target rests at a high of $72.00. In that case, then, we find that the current price level is -108.27% off the targeted high while a plunge would see the stock gain -15.71% from current levels.
MGM Resorts International (MGM) estimates and forecasts
Figures show that MGM Resorts International shares have outperformed across the wider relevant industry. The company’s shares have lost -17.36% over the past 6 months, with this year growth rate of 105.97%, compared to 8.90% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 276.90% and 800.00% for the next quarter. Revenue growth from the last financial year stood is estimated to be 27.40%.
14 analysts offering their estimates for the company have set an average revenue estimate of $3.04 billion for the current quarter. 14 have an estimated revenue figure of $3.23 billion for the next quarter concluding in Sep 2022.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 4.70% over the past 5 years.
MGM Resorts International is expected to release its next earnings report between April 26 and May 02 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.01 at a share yield of 0.03%. The company’s dividend yield has gone up over the past 12 months.
MGM Resorts International (NYSE:MGM)’s Major holders
Insiders own 17.97% of the company shares, while shares held by institutions stand at 71.94% with a share float percentage of 87.70%. Investors are also buoyed by the number of investors in a company, with MGM Resorts International having a total of 918 institutions that hold shares in the company. The top two institutional holders are Vanguard Group, Inc. (The) with over 41.8 million shares worth more than $1.75 billion. As of Mar 30, 2022, Vanguard Group, Inc. (The) held 9.81% of shares outstanding.
The other major institutional holder is Blackrock Inc., with the holding of over 25.4 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $1.07 billion and represent 5.96% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Mid-Cap Index Fund. As of Mar 30, 2022, the former fund manager holds about 2.61% shares in the company for having 11.13 million shares of worth $466.98 million while later fund manager owns 8.76 million shares of worth $367.33 million as of Mar 30, 2022, which makes it owner of about 2.06% of company’s outstanding stock.