MGM Resorts International (NYSE:MGM) shares, rose in value on Thursday, June 23, with the stock price down by -3.07% to the previous day’s close as strong demand from buyers drove the stock to $26.49.
Actively observing the price movement in the recent trading, the stock is buoying the session at $27.33, falling within a range of $27.13 and $27.985. The value of beta (5-year monthly) is 2.20 whereas the PE ratio is 8.88 over 12-month period. Referring to stock’s 52-week performance, its high was $51.17, and the low was $26.69. On the whole, MGM has fluctuated by -20.48% over the past month.
With the market capitalization of MGM Resorts International currently standing at about $11.41 billion, investors are eagerly awaiting this quarter’s results, scheduled for Aug 02, 2022 – Aug 08, 2022. The company’s Forward Dividend Ratio is 0.01, with its dividend yield at 0.04%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.2, which is expected to increase to $0.68 for fiscal year $0.65 and then to about $1.42 by fiscal year 2023. Data indicates that the EPS growth is expected to be 197.00% in 2023, while the next year’s EPS growth is forecast to be 118.50%.
Analysts have estimated the company’s revenue for the quarter at $3.05 billion, with a low estimate of $2.69 billion and a high estimate of $3.32 billion. Wall Street analysts also predicted that in 2023, the company’s y-o-y revenues would reach $12.45 billion, representing an increase of 28.60% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that MGM’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of MGM currently trading nearly -17.52% and -26.60% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 29.17, while the 7-day volatility ratio is showing 4.75% which for the 30-day chart, stands at 4.59%. Furthermore, MGM Resorts International (MGM)’s beta value is 2.16, and its average true range (ATR) is 1.65.
A comparison of MGM Resorts International (MGM) with its peers suggests the former has fared considerably weaker in the market. MGM showed an intraday change of -3.07% in today’s session so far, and over the past year, it shrunk by -35.39%%. In comparison, Las Vegas Sands Corp. (LVS) has moved lower at -2.34% today and is down -41.04% over the past 12 months. On the other hand, the price of DraftKings Inc. (DKNG) has risen 3.12% today. The stock, however, is off -75.04% from where it was a year ago. Additionally, there is a loss of -1.48% for Caesars Entertainment Inc. (CZR) in recent trading while the stock has seen an overall depriciation of -61.69%% over the past year. The PE ratio stands at 8.88 for MGM Resorts International. Other than that, the overall performance of the S&P 500 during the today’s session so far shows that it gained 0.73%. Meanwhile, the Dow Jones Industrial Improved by 0.45%.
Data on historical trading for MGM Resorts International (NYSE:MGM) indicates that the trading volumes over the past 10 days have averaged 7.43 million and over the past 3 months, they’ve averaged 5.71 million. According to company’s latest data on outstanding shares, there are 442.92 million shares outstanding.
Nearly 15.50% of MGM Resorts International’s shares belong to company insiders and institutional investors own 70.90% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 16.82 million shares as on May 30, 2022, resulting in a short ratio of 2.25. According to the data, the short interest in MGM Resorts International (MGM) stood at 3.95% of shares outstanding as of May 30, 2022; the number of short shares registered in Apr 28, 2022 reached 13.44 million. The stock has fallen by -39.10% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the MGM stock heading into the next quarter.