MGM Resorts International (MGM) concluded trading on Thursday at a closing price of $42.04, with 3.5 million shares of worth about $147.26 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 14.12% during that period and on April 18, 2024 the price saw a gain of about 0.02%. Currently the company’s common shares owned by public are about 326.55M shares, out of which, 249.62M shares are available for trading.
Stock saw a price change of -5.99% in past 5 days and over the past one month there was a price change of -5.46%. Year-to-date (YTD), MGM shares are showing a performance of -5.91% which decreased to -5.72% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $34.12 but also hit the highest price of $51.35 during that period. The average intraday trading volume for MGM Resorts International shares is 3.79 million. The stock is currently trading -7.01% below its 20-day simple moving average (SMA20), while that difference is down -4.61% for SMA50 and it goes to -1.18% lower than SMA200.
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MGM Resorts International (NYSE: MGM) currently have 326.55M outstanding shares and institutions hold larger chunk of about 68.73% of that.
The stock has a current market capitalization of $13.33B and its 3Y-monthly beta is at 2.21. PE ratio of stock for trailing 12 months is 13.27, while it has posted earnings per share of $3.17 in the same period. Its PEG reads 1.12 and has Quick Ratio of 1.53 while making debt-to-equity ratio of 8.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for MGM, volatility over the week remained 2.85% while standing at 2.28% over the month.
Stock’s fiscal year EPS is expected to drop by -10.06% while it is estimated to increase by 17.63% in next year. EPS is likely to shrink at an annualized rate of 11.90% for next 5-years, compared to annual growth of 31.55% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Seaport Research Partners on April 15, 2024 offering a Buy rating for the stock and assigned a target price of $56 to it. Coverage by Mizuho stated MGM Resorts International (MGM) stock as a Buy in their note to investors on March 26, 2024, suggesting a price target of $61 for the stock. On October 23, 2023, HSBC Securities Initiated their recommendations, while on October 12, 2023, CapitalOne Initiated their ratings for the stock with a price target of $50. Stock get an Equal-weight rating from Morgan Stanley on July 14, 2023.
