During the recent session, MGM Resorts International (NYSE:MGM)’s traded shares were 3.73 million, with the beta value of the company hitting 2.24. At the last check today, the stock’s price was $37.33, reflecting an intraday loss of -9.86% or -$4.08. The 52-week high for the MGM share is $48.24, that puts it down -29.23 from that peak though still a striking 10.42% gain since the share price plummeted to a 52-week low of $33.44. The company’s market capitalization is $11.34B, and the average intraday trading volume over the past 10 days was 3.54 million shares, and the average trade volume was 4.85 million shares over the past three months.
MGM Resorts International (MGM) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.50. MGM has a Sell rating from 0 analyst(s) out of 17 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 15 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 0.61.
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MGM Resorts International (NYSE:MGM) trade information
MGM Resorts International (MGM) registered a -9.86% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -9.86% in intraday trading to $37.33, hitting a weekly high. The stock’s 5-day price performance is -6.92%, and it has moved by -5.79% in 30 days. Based on these gigs, the overall price performance for the year is 6.89%. The short interest in MGM Resorts International (NYSE:MGM) is 15.21 million shares and it means that shorts have 3.21 day(s) to cover.
The consensus price target of analysts on Wall Street is $54, which implies an increase of 30.87% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $23.2 and $72 respectively. As a result, MGM is trading at a discount of -92.87% off the target high and 37.85% off the low.
MGM Resorts International (MGM) estimates and forecasts
Statistics show that MGM Resorts International has underperformed its competitors in share price, compared to the industry in which it operates. MGM Resorts International (MGM) shares have gone down -8.67% during the last six months, with a year-to-date growth rate less than the industry average at -4.49% against 6.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -4.70% this quarter and then drop -49.10% in the quarter after that. In the rating firms’ projections, revenue will increase 6.70% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 4.21B as predicted by 18 analyst(s). Meanwhile, a consensus of 18 analyst(s) estimates revenue growth to 4.34B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 3.97B and 4.38B respectively. In this case, analysts expect current quarter sales to grow by 5.90% and then drop by -0.90% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 31.55%. While earnings are projected to return -4.34% in 2024, the next five years will return -1.76% per annum.
MGM Dividends
MGM Resorts International is due to release its next quarterly earnings on 2024-Oct-30. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. The average dividend yield of the company for the last 5 years is 0.81%.
MGM Resorts International (NYSE:MGM)’s Major holders
MGM Resorts International insiders own 22.28% of total outstanding shares while institutional holders control 69.64%, with the float percentage being 89.60%. VANGUARD GROUP INC is the largest shareholder of the company, while 969.0 institutions own stock in it. As of 2024-06-30, the company held over 27.95 million shares (or 8.7212% of all shares), a total value of $1.24 billion in shares.
The next largest institutional holding, with 21.56 million shares, is of BLACKROCK INC.’s that is approximately 6.7274% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $958.15 million.
