MGM Resorts International (NYSE:MGM) price on current trading day, rose 1.17% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $37.27.
A look at the stock’s price movement, the level at last check in today’s session was $36.84, moving within a range at $37.25 and $37.77. The beta value (5-Year monthly) was 2.241 while the PE ratio in trailing twelve months stood at 13.33. Turning to its 52-week performance, $48.24 and $33.44 were the 52-week high and 52-week low respectively. Overall, MGM moved -0.43% over the past month.
MGM Resorts International’s market cap currently stands at around $11.10 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 4.28B for the company’s revenue for the quarter, with a low and high estimate of 4.11B and 4.38B respectively. The average forecast suggests down to a -2.14% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 17.19B, representing a 6.36% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MGM is a 100% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
17 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 15 recommend MGM as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MGM’s current price about -0.57% and -3.72% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 45.67, while 7-day volatility ratio is 2.56% and 2.58% in the 30-day chart. Further, MGM Resorts International (MGM) has a beta value of 2.21, and an average true range (ATR) of 1.04. Analysts have given the company’s stock an average 52-week price target of $52, forecast between a low of $42 and high of $55. Looking at the price targets, the low is -12.69% off recent price level in today’s trading while to achieve the yearly target high, it has to move -47.57%. Nonetheless, investors will most likely welcome a -39.52% jump to $52 which is the analysts’ median price.
If we refocus on MGM Resorts International (NYSE:MGM), historical trading data shows that trading volumes averaged 3.15 over the past 10 days and 4.23 million over the past 3 months. The company’s latest data on shares outstanding shows there are 296.89 million shares.
The 22.31% of MGM Resorts International’s shares are in the hands of company insiders while institutional holders own 68.83% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 13.76 million on 2024-11-15, giving us a short ratio of 3.2. The data shows that as of 2024-11-15 short interest in MGM Resorts International (MGM) stood at 614.0 of shares outstanding, with shares short falling to 15.21 million registered in 2024-10-15. Current price change has pushed the stock -16.58% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MGM stock continues to rise going into the next quarter.
