Somewhat Favorable Press Coverage Very Likely to Affect MGM Resorts International (MGM) Stock Price
News coverage about MGM Resorts International (NYSE:MGM) has trended somewhat positive on Monday, Alpha One Sentiment Analysis reports. The research group, a subsidiary of Accern, scores the sentiment of press coverage by reviewing more than 20 million news and blog sources in real time. Alpha One ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. MGM Resorts International earned a news impact score of 0.10 on Alpha One’s scale. Alpha One also gave headlines about the company an impact score of 88 out of 100, meaning that recent press coverage is very likely to have an effect on the stock’s share price in the next few days.
Here are some of the news articles that may have impacted Alpha One Sentiment’s analysis:
- MGM Resorts International (MGM) Earns “Buy” Rating from Instinet (americanbankingnews.com)
- FY2021 EPS Estimates for MGM Resorts International (MGM) Lowered by Gabelli (americanbankingnews.com)
- High River almost rebuilt after Alberta flood in June 2013 (environmentguru.com)
- Brokers Opinions on: MGM Resorts International (MGM) (campdesrecrues.com)
- Time For Japan To Ante Up For Casino Legalization (finance.yahoo.com)
MGM has been the subject of several recent analyst reports. Deutsche Bank AG boosted their target price on MGM Resorts International from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Telsey Advisory Group restated an “outperform” rating and set a $36.00 target price (up previously from $32.00) on shares of MGM Resorts International in a research report on Thursday, April 27th. CLSA restated an “outperform” rating on shares of MGM Resorts International in a research report on Friday, April 28th. Instinet reiterated a “buy” rating and issued a $35.00 price target (up previously from $34.00) on shares of MGM Resorts International in a report on Saturday, April 29th. Finally, Aegis reiterated a “buy” rating and issued a $35.00 price target (up previously from $33.00) on shares of MGM Resorts International in a report on Saturday, April 29th. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $34.20.
MGM Resorts International (NYSE MGM) traded up 1.66% during trading on Monday, hitting $33.15. The company had a trading volume of 7,399,496 shares. The stock has a market capitalization of $19.05 billion, a price-to-earnings ratio of 15.40 and a beta of 1.44. The firm’s 50 day moving average is $31.62 and its 200-day moving average is $29.01. MGM Resorts International has a 52-week low of $21.31 and a 52-week high of $33.23.
MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Thursday, April 27th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.12. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.63 billion. MGM Resorts International had a net margin of 12.25% and a return on equity of 7.76%. The company’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities analysts forecast that MGM Resorts International will post $1.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Friday, June 9th were paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend was Wednesday, June 7th. MGM Resorts International’s payout ratio is 20.37%.
In related news, COO Corey Ian Sanders sold 21,441 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $31.60, for a total transaction of $677,535.60. Following the completion of the transaction, the chief operating officer now owns 210,558 shares of the company’s stock, valued at $6,653,632.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John Mcmanus sold 14,942 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $30.74, for a total transaction of $459,317.08. Following the transaction, the executive vice president now directly owns 93,517 shares of the company’s stock, valued at approximately $2,874,712.58. The disclosure for this sale can be found here. Insiders have sold 83,070 shares of company stock worth $2,591,372 in the last three months. Insiders own 16.90% of the company’s stock.
About MGM Resorts International
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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