MGM Resorts International (NYSE:MGM) Reviewed By Analysts
Apr 21 2017 by Joanne Wise
The stock traded at a volume of 4.1 million shares. The Average Volume (3 months) is 9.16 Million. ABC's profit will be $371.38 million for 11.89 P/E if the $1.71 EPS becomes a reality.
Relative Strength Index (RSI) was 59.20. RSI oscillates between zero and 100. MGM Resorts International (MGM) is a part of Services sector and belongs to Resorts & Casinos industry.
A price target is the projected price level of a financial security stated by an investment analyst. They now have a United States dollars 31 price target on the stock. Goldman Sachs Initiates Coverage On the stock to Buy on 12/16/16 by stationing a price target of $37.
"We are very pleased by the overwhelming response from our lenders who continue to value CityCenter's improved operating performance, premium asset quality and strong balance sheet", said Jim Murren, Chairman and Chief Executive Officer of MGM Resorts International and Chairman of CityCenter."Going forward, CityCenter will remain focused on executing its business plan and maximizing value for its shareholders".
An earnings forecast is an analyst's outlook for a company's future quarterly or annual earnings. Earnings per share serves as an indicator of a company's profitability.
The goal of a stock price analysis is to study the behaviour of stock prices. Institutional investors and hedge funds own 71.92% of the company's stock. This showed the surprise of -47.6% in the last quarter earnings.
19 analysts on average are expecting the company to report revenue of $1.54 Billion for the current quarter. Instinet reissued a "buy" rating and set a $35.00 price objective on shares of MGM Resorts International in a report on Tuesday, February 7th. The company reported its last quarter on 12/31/2016.
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The number of shares now held by investors is 574.2 Million.
If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, MGM earned gross profit of 3.71 Billion, in 2015 3.56 Billion gross profit, while in 2016 MGM Resorts International (MGM) produced 3.96 Billion profit. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.44 billion.
The stock grew about 60.7% in the past 5 years, this positive value indicates that the stock constantly performed well in previous years as well. The ROIC 5 year average is 0.060209 and the ROIC Quality ratio is 3.369336. The stock was trading on below-average volume. Moving average strategies are also popular and can be tailored to any time frame, suiting both long term investors and short-term traders. Angled up and price is moving up (or was recently) overall, angled down and price is moving down overall, moving sideways and the price is likely in a range.
A 52-week high/low is the highest and lowest price that a stock has traded at during the previous year. According to their observations and findings, the stock could provide a high EPS of $-0.13/share and a Low EPS of $-0.31/share. The 52-week range of the share price is from $21.12 - $30.62.
MGM Resorts International (NYSE:MGM)'s stock had its "positive" rating reaffirmed by research analysts at Susquehanna Bancshares Inc in a note issued to investors on Thursday.
According to the Recommendation Trends of the stock polled by Zacks Investment Research for this month, the company has a consensus recommendation of 3.17 out of the scale from 1 to 5 where 1 stands for Strong Buy and 5 means Strong Sell. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of MGM Resorts International in a report on Friday, December 2nd. CrestPoint Capital Management LLC now owns 18,300 shares of the company's stock worth $501,000 after buying an additional 600 shares during the last quarter. This rating was issued on 12/22/16.
Several other equities analysts have also recently weighed in on the company. The stock has "Buy" rating by Stifel Nicolaus on Wednesday, January 27. Share performance for the month is now at 5.26%. The stock plunged -2.76 percent over the past quarter, while surged 8.23 percent over the past six months.