MGM Resorts International (NYSE:MGM) Stock Gets Price Target Cut from Truist Financial

MGM Resorts International (NYSE:MGM) had its target price reduced by Truist Financial from $55.00 to $45.00 in a research report released on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts also recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of MGM Resorts International from $48.30 to $29.00 and set an “equal weight” rating on the stock in a research note on Monday. Argus boosted their price objective on shares of MGM Resorts International from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, August 17th. Capital One Financial upped their target price on MGM Resorts International from $53.00 to $57.00 and gave the stock an “overweight” rating in a report on Monday, September 21st. Zacks Research cut MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Friday, October 2nd. Finally, Citigroup reduced their price target on MGM Resorts International from $48.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, October 12th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of “Hold” and a consensus price target of $46.71.

MGM Resorts International Stock Up 2.2%

Shares of MGM Resorts International stock opened at $29.51 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.34 and a quick ratio of 1.30. MGM Resorts International has a 1 year low of $27.93 and a 1 year high of $51.59. The firm’s 50-day moving average is $36.56 and its two-hundred day moving average is $40.88. The stock has a market cap of $7.42 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.56 and a beta of 1.35.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.56 by $0.03. MGM Resorts International had a net margin of 2.40% and a return on equity of 23.30%. The business had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.42 billion. During the same quarter in the previous year, the business posted $0.79 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, research analysts expect that MGM Resorts International will post 1.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On MGM Resorts International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp grew its holdings in MGM Resorts International by 0.8% in the second quarter. State Street Corp now owns 7,047,768 shares of the company’s stock worth $336,954,000 after purchasing an additional 56,072 shares during the last quarter. Montanova Capital LLC lifted its holdings in shares of MGM Resorts International by 7.7% during the 2nd quarter. Montanova Capital LLC now owns 2,325,360 shares of the company’s stock valued at $111,175,000 after purchasing an additional 166,560 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of MGM Resorts International by 1.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,379,727 shares of the company’s stock valued at $88,050,000 after purchasing an additional 36,649 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of MGM Resorts International by 3.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,598,531 shares of the company’s stock valued at $76,426,000 after purchasing an additional 46,268 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of MGM Resorts International by 5.0% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,037,941 shares of the company’s stock worth $49,624,000 after purchasing an additional 49,351 shares in the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Trending Headlines about MGM Resorts International

Here are the key news stories impacting MGM Resorts International this week:

• Positive Sentiment: Expanded sports and entertainment marketing: MGM Resorts is the title sponsor of the Pro Padel League’s Las Vegas tournament, scheduled for November 18–21. The event should create additional exposure for MGM properties and potentially drive room, food-and-beverage and casino traffic. Pro Padel League Secures Landmark Title Sponsorship with MGM Resorts International for Las Vegas Tournament
• Positive Sentiment: Formula 1 race-week plans: MGM is promoting fan experiences, culinary offerings, fashion and art activations across Bellagio, ARIA, The Cosmopolitan and Park MGM during the November 19–21 Las Vegas Grand Prix. The programming could strengthen the company’s ability to monetize a major high-demand event. MGM Resorts Formula 1 Las Vegas Grand Prix Experiences
• Positive Sentiment: New premium dining concept: MGM Grand will open Taylor Sheridan’s Four Sixes Ranch Steakhouse in early 2027. The partnership adds a distinctive, high-end restaurant attraction that may support resort traffic and spending. MGM Grand to Open Four Sixes Ranch Steakhouse
• Positive Sentiment: BetMGM partnership extended: BetMGM renewed its Canadian partnership with the NFL, preserving access to league intellectual property, marketing activations and fan experiences. The agreement supports BetMGM’s customer-acquisition and brand-building efforts. BetMGM and NFL Extend Partnership in Canada
• Neutral Sentiment: Potential acquisition interest: A law firm is investigating Barry Diller’s reported $48.30-per-share offer for MGM. The bid could establish significant upside if pursued, but the investigation introduces uncertainty and does not indicate that a transaction will close. MGM Deal Notice
• Negative Sentiment: Analysts reduced price targets: Truist Financial and Stifel Nicolaus both cut their targets for MGM, signaling diminished near-term confidence in the company’s earnings outlook and weighing on sentiment. Truist Cuts MGM Price Target Stifel Cuts MGM Price Target
• Negative Sentiment: Q3 earnings concerns: A Zacks preview expects MGM’s third-quarter earnings to decline and sees limited evidence for a likely earnings beat. That caution is an important counterweight to the company’s promotional announcements ahead of its upcoming results. MGM Q3 Earnings Preview

MGM Resorts International Company Profile

MGM Resorts International is a global hospitality and entertainment company that develops, owns, and operates destination resorts featuring casinos, hotels, restaurants, entertainment venues, convention facilities, retail spaces, and nightlife offerings. Its portfolio includes well-known properties such as MGM Grand, Bellagio, ARIA, Mandalay Bay, and The Cosmopolitan of Las Vegas.

The company serves customers through properties in Las Vegas and other U.S. markets, including regional destinations in Michigan, Maryland, Massachusetts, Mississippi, New Jersey, New York, and Ohio.