MGM Resorts International (NYSE:MGM) had its price target lowered by Morgan Stanley from $36.00 to $34.00 in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms have also weighed in on MGM. Cfra lowered shares of MGM Resorts International to a sell rating in a report on Friday, February 7th. TheStreet lowered shares of MGM Resorts International from a b- rating to a c rating in a report on Wednesday, October 30th. UBS Group increased their target price on shares of MGM Resorts International from $31.00 to $34.00 and gave the stock a neutral rating in a report on Thursday, November 14th. Zacks Investment Research upgraded shares of MGM Resorts International from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Friday, February 7th. Finally, SunTrust Banks started coverage on shares of MGM Resorts International in a report on Friday, December 6th. They issued a hold rating and a $35.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. MGM Resorts International presently has a consensus rating of Hold and a consensus target price of $32.92.

MGM traded down $0.28 during mid-day trading on Thursday, hitting $31.52. The stock had a trading volume of 10,274,889 shares, compared to its average volume of 6,179,432. The stock’s fifty day simple moving average is $32.66 and its 200-day simple moving average is $30.35. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.87 and a quick ratio of 0.84. The firm has a market capitalization of $16.36 billion, a price-to-earnings ratio of -3,152.00, a price-to-earnings-growth ratio of 2.14 and a beta of 1.50. MGM Resorts International has a 1-year low of $23.68 and a 1-year high of $34.63.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.16). The firm had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.21 billion. MGM Resorts International had a return on equity of 4.10% and a net margin of 0.11%. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, research analysts expect that MGM Resorts International will post 0.88 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.15 per share. This is an increase from MGM Resorts International’s previous quarterly dividend of $0.13. The ex-dividend date is Monday, March 9th. This represents a $0.60 annualized dividend and a dividend yield of 1.90%. MGM Resorts International’s dividend payout ratio is currently 52.53%.

Several hedge funds have recently modified their holdings of the company. State Street Corp increased its position in shares of MGM Resorts International by 0.5% during the fourth quarter. State Street Corp now owns 21,084,415 shares of the company’s stock worth $701,478,000 after acquiring an additional 114,176 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of MGM Resorts International by 10.0% during the fourth quarter. Bank of New York Mellon Corp now owns 7,870,497 shares of the company’s stock worth $261,850,000 after acquiring an additional 718,276 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of MGM Resorts International by 23.2% during the fourth quarter. Renaissance Technologies LLC now owns 5,793,540 shares of the company’s stock worth $192,751,000 after acquiring an additional 1,090,900 shares in the last quarter. FMR LLC increased its position in shares of MGM Resorts International by 652.4% during the fourth quarter. FMR LLC now owns 2,597,644 shares of the company’s stock worth $86,423,000 after acquiring an additional 2,252,387 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of MGM Resorts International by 2.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,388,083 shares of the company’s stock worth $79,452,000 after acquiring an additional 57,857 shares in the last quarter. 81.58% of the stock is owned by institutional investors.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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Analyst Recommendations for MGM Resorts International (NYSE:MGM)

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