MGM Resorts International [NYSE: MGM] loss -2.89% or -1.36 points to close at $45.66 with a heavy trading volume of 6707609 shares. The company report on February 13, 2024 at 4:15 PM that MGM RESORTS INTERNATIONAL REPORTS RECORD FOURTH QUARTER AND FULL YEAR 2023 RESULTS.
Las Vegas Strip Resorts achieved record full year and fourth quarter net revenue and Adjusted Property EBITDAR.
MGM China achieved record full year and fourth quarter Adjusted Property EBITDAR.
The daily chart for MGM points out that the company has recorded 0.00% loss over the past six months.
If we look at the average trading volume of 4.33M shares, MGM reached to a volume of 6707609 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about MGM Resorts International [MGM]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGM shares is $54.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGM stock is a recommendation set at 1.58. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
HSBC Securities have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 23, 2023.
The Average True Range (ATR) for MGM Resorts International is set at 1.13, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.01. The Price to Book ratio for the last quarter was 3.93, with the Price to Cash per share for the same quarter was set at 9.71. Price to Free Cash Flow for MGM in the course of the last twelve months was 10.44 with Quick ratio for the last quarter at 1.73.
Trading performance analysis for MGM stock
MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.17. With this latest performance, MGM shares gained by 7.76% in over the last four-week period, additionally sinking by 0.00% over the last 6 months – not to mention a rise of 4.18% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGM stock in for the last two-week period is set at 58.34, with the RSI for the last a single of trading hit 58.08, and the three-weeks RSI is set at 57.93 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 43.68, while it was recorded at 46.11 for the last single week of trading, and 42.21 for the last 200 days.
MGM Resorts International [MGM]: A deeper dive into fundamental analysis
MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.73 and a Current Ratio set at 1.78.
MGM Resorts International [MGM]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, MGM Resorts International posted -1.53/share EPS, while the average EPS was predicted by analysts to be reported at -1.36/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGM.
An analysis of Institutional ownership at MGM Resorts International [MGM]
The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MGM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MGM stock with ownership which is approximately 5.8325%.
