In today’s recent session, 2.39 million shares of the MGM Resorts International (NYSE:MGM) have been traded, and its beta is 2.27. Most recently the company’s share price was $37.12, and it changed around $1.72 or 4.86% from the last close, which brings the market valuation of the company to $11.28B. MGM at last check was trading at a discount to its 52-week high of $48.24, offering almost -29.96% off that amount. The share price’s 52-week low was $33.44, which indicates that the recent value has risen by an impressive 9.91% since then. We note from MGM Resorts International’s average daily trading volume that its 10-day average is 7.15 million shares, with the 3-month average coming to 3.98 million.
MGM Resorts International stock received a consensus recommendation rating of Buy, based on a mean score of 1.48. If we narrow it down even further, the data shows that 0 out of 17 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 4 recommended MGM as a Hold, whereas 9 deemed it a Buy, and 0 rated it as Underweight. MGM Resorts International is expected to report earnings per share of 0.63 for the current quarter.
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MGM Resorts International (NYSE:MGM) trade information
Instantly MGM has been showing a green trend so far today with a performance of 4.86% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 40.35 on recent trading dayincreased the stock’s daily price by 8.0%. The company’s shares are currently down -16.92% year-to-date, but still down -13.61% over the last five days. On the other hand, MGM Resorts International (NYSE:MGM) is -15.13% down in the 30-day period. We can see from the shorts that 11.8 million shares have been sold at a short interest cover period of 3.33 day(s).
The consensus price target as assigned by Wall Street analysts is $56, which translates to bulls needing to increase their stock price by 33.71% from its current value. Analyst projections state that MGM is forecast to be at a low of $23.2 and a high of $72.
MGM Resorts International (MGM) estimates and forecasts
MGM Resorts International share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -16.94 percent over the past six months and at a 3.00% annual growth rate that is well above the industry average of 2.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -1.60% in revenue this quarter, and will report a decrease of -38.70% in the next quarter. The year-over-year growth rate is expected to be 7.10%, up from the previous year.
Consensus estimates provided by 18 financial analysts predict the company will bring in an average of 4.25B in revenue for the current quarter. 18 analysts expect MGM Resorts International to make 4.4B in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 3.97B and 4.38B respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 7.10%. Forecasts for the next quarter put sales growth at 0.60%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 31.55%. MGM Resorts International earnings are expected to increase by 0.67% in 2024, but the outlook is negative -2.63% per year for the next five years.
MGM Dividends
MGM Resorts International’s next quarterly earnings report is expected to be released on 2024-Nov-06. The average dividend yield for the past five years averaged 0.81 per year.
MGM Resorts International (NYSE:MGM)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 22.14% of MGM Resorts International shares, and 69.14% of them are in the hands of institutional investors. The stock currently has a share float of 88.80%. MGM Resorts International stock is held by 968.0 institutions, with VANGUARD GROUP INC being the largest institutional investor. By 2024-03-31, it held 8.7427% of the shares, which is about 29.52 million shares worth $1.39 billion.
BLACKROCK INC., with 7.8517% or 26.51 million shares worth $1.25 billion as of 2024-03-31, holds the second largest percentage of outstanding shares.
