In a report released yesterday, John Staszak from Argus Research upgraded MGM Resorts (MGM) to Buy, with a price target of $42.00. The company’s shares closed last Tuesday at $39.59, close to its 52-week high of $39.91.
According to TipRanks.com, Staszak is a 4-star analyst with an average return of 9.4% and a 59.1% success rate. Staszak covers the Consumer Goods sector, focusing on stocks such as The Estée Lauder Companies, Constellation Brands, and Lululemon Athletica.
MGM Resorts has an analyst consensus of Hold, with a price target consensus of $34.91, implying a -9.3% downside from current levels. In a report issued on February 11, Macquarie also maintained a Buy rating on the stock with a $42.00 price target.
See today’s analyst top recommended stocks >>
MGM Resorts’ market cap is currently $19.56B and has a P/E ratio of -19.10. The company has a Price to Book ratio of 24.89.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MGM in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.
Read More on MGM:
