In recent trading session, MGM Resorts International (NYSE:MGM) saw 1.23 million shares changing hands at last check today with its beta currently measuring 2.24. Company’s recent per share price level of $39.78 trading at $1.47 or 3.82% at last check today assigns it a market valuation of $12.08B. That most recent trading price of MGM’s stock is at a discount of -21.27% from its 52-week high price of $48.24 and is indicating a premium of 15.94% from its 52-week low price of $33.44. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 6.03 million shares which gives us an average trading volume of 4.73 million if we extend that period to 3-months.
For MGM Resorts International (MGM), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 1.50. Splitting up the data highlights that, out of 17 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 15 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 0.63 in the current quarter.
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MGM Resorts International (NYSE:MGM) trade information
MGM Resorts International’s shares saw a change of -10.98% in year-to-date performance and have moved 6.61% in past 5-day. MGM Resorts International (NYSE:MGM) showed a performance of 7.33% in past 30-days. Number of shares sold short was 17.02 million shares which calculate 4.13 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 56 to the stock, which implies a rise of 28.96% to its recent value today. Analysts have been projecting 23.2 as a low price target for the stock while placing it at a high target of 72. It follows that stock’s current price would jump 41.68% in reaching the projected high whereas dropping to the targeted low would mean a gain of 41.68% for stock’s current value.
MGM Resorts International (MGM) estimates and forecasts
Statistics highlight that MGM Resorts International is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -15.75% of value to its shares in past 6 months, showing an annual growth rate of -1.50% while that of industry is 5.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 7.10% from the last financial year’s standing.
18 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 4.24B for the same. And 18 analysts are in estimates of company making revenue of 4.38B in the next quarter. Company posted 3.97B and 4.38B of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 31.55% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -1.33% while estimates for its earnings growth in next 5 years are of -2.81%.
MGM Resorts International (NYSE:MGM)’s Major holders
Insiders are in possession of 22.23% of company’s total shares while institution are holding 67.82 percent of that, with stock having share float percentage of 87.20%. Investors also watch the number of corporate investors in a company very closely, which is 67.82% institutions for MGM Resorts International that are currently holding shares of the company. VANGUARD GROUP INC is the top institutional holder at MGM for having 27.95 million shares of worth $1.24 billion. And as of 2024-06-30, it was holding 8.7212 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 21.56 million shares on 2024-06-30. The number of shares represents firm’s hold over 6.7274 of outstanding shares, having a total worth of $958.15 million.
On the other hand, Vanguard Total Stock Market Index Fund and Growth Fund Of America Inc are the top two Mutual Funds which own company’s shares. As of Jun 30, 2024, the former fund manager was holding 7.44 shares of worth $295.28 million or 2.45% of the total outstanding shares. The later fund manager was in possession of 6.46 shares on Jun 30, 2024, making its stake of worth around $256.07 million in the company or a holder of 2.12% of company’s stock.
