Gabelli analyst A. Trivison now forecasts that the brokerage will earn $0.75 per share for the year, down from their previous estimate of $0.80. MGM Resorts International (NYSE:MGM) has risen 7.93% since October 26, 2015 and is uptrending.
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MGM’s announcement to remodel and rebrand Monte Carlo came less than two months after the global hospitality company opened The Park along Las Vegas Boulevard.
Several other research firms have also weighed in on MGM. The $27.94 average target is 14.23% above today’s ($24.1) stock price.
Earnings to Watch: Investors considering MGM stock at the going market price of $24.1/share should know the stock will next release quarterly results for the June 2016 quarter.
MGM Resorts International had its “buy” rating reiterated by analysts at Deutsche Bank. Over the last three months and over the last six months, the shares of MGM Resorts International (MGM), have changed 14.18% and 21.13%, respectively.
MGM Resorts International is a holding company. The company had a trading volume of 3,740,475 shares. The firm’s market capitalization is $13.51 billion. Citigroup maintained the stock on April 13 with “Buy” rating. The Company owns and operates casino resorts. The stock’s institutional ownership stands at 73.40%. The shares were bought at an average price of C$20.77 per share, for a total transaction of C$25,962.50. The company net profit margin is 1.40% and gross profit margin is 12.70%.
03/07/2016 – MGM Resorts International had its “buy” rating reiterated by analysts at UBS. Candriam Luxembourg S.C.A. now owns 45,273 shares of the company’s stock worth $1,029,000 after buying an additional 4,664 shares during the period. Land & Buildings Investment Management Llc owns 1.84 million shares or 13.36% of their United States portfolio.
02/17/2016 – MGM Resorts International had its “outperform” rating reiterated by analysts at Credit Suisse. DIAM Co. Ltd. now owns 52,142 shares of the company’s stock worth $1,194,000 after buying an additional 11,711 shares during the period.
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MGM Resorts International announced Friday that its Monte Carlo casino on the Las Vegas Strip will be undergoing a $450 million remodeling and rebranding. The 50-day moving average is listed at $37.83 and the 200 day moving average is noted at $37.37. However, 2 analysts recommended “HOLD RATING” for the company. MGM will retain full ownership and operations. The Company?s resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities.
