As of September 19, 2023, there has been a noteworthy surge in options activity for MGM Resorts International (NYSE: MGM), suggesting a positive outlook from a significant investor or institution. Our analysis has detected 23 uncommon options trades for MGM Resorts Intl, with approximately 60% of the sentiment being bullish and 39% bearish. Among these unique options, 20 were puts, amounting to a total value of $994,279, while 3 were calls, totaling $665,160.
Based on the volume and open interest of these contracts, experts estimate the price target for MGM Resorts Intl to range between $23.0 and $50.0. It is worth mentioning that this particular price range has attracted the attention of prominent market players over the past three months.
Among the notable options discovered, there was a call sweep displaying a bullish sentiment. This option is set to expire on November 17, 2023, with a strike price of $38.00. The total trade price for this particular option amounted to $274.6.
MGM Resorts International
MGM
Strong Buy
Updated on: 25/09/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
MGM Resorts International: Stable Stock Performance and Promising Future
On September 19, 2023, MGM stock experienced some fluctuations in its performance. The stock opened at $40.04, slightly lower than the previous day’s closing price of $40.29. Throughout the day, the stock’s price ranged between $38.43 and $40.14. The trading volume was relatively high, with 8,770,714 shares being traded.
MGM Resorts International, with a market capitalization of $14.4 billion, operates in the consumer services sector, specifically in the casinos/gaming industry. The company has been showing strong growth in recent years, with earnings growth of +44.33% in the previous year and a remarkable +186.75% in the current year. Analysts also project a positive outlook for the next five years, with an expected earnings growth of +51.20%.
The revenue growth for MGM in the last year was +35.61%, indicating a healthy expansion in its business operations. The company’s financial ratios also reflect its positive performance. The price-to-earnings (P/E) ratio stands at 31.0, suggesting that investors are willing to pay a premium for MGM’s earnings. The price-to-sales ratio is 1.05, and the price-to-book ratio is 3.22, both of which are relatively moderate.
In terms of stock performance on September 19, 2023, MGM’s stock price did not experience significant changes. While some other companies in the same industry, such as H World Group Ltd and Caesars Entertainment Corporation, saw declines of -2.87% and -2.30% respectively, MGM’s stock showed a slight increase of +0.22%. This indicates that MGM may have been more resilient compared to its competitors on that particular day.
Looking ahead, the next reporting date for MGM is scheduled for November 1, 2023. Analysts are forecasting an earnings per share (EPS) of $0.55 for the current quarter. In the previous year, MGM recorded an annual revenue of $13.1 billion and a profit of $1.4 billion, with a net profit margin of 10.98%.
MGM Resorts International, headquartered in Las Vegas, Nevada, has positioned itself as a leading player in the casinos/gaming industry. While the stock’s performance on September 19, 2023, was relatively stable, the company’s strong earnings and revenue growth, as well as positive market projections, indicate a promising future for MGM. Investors will be closely watching the company’s upcoming financial reports to assess its continued growth and profitability.
Investors Eyeing MGM Resorts International as Stock Performance Soars
MGM Resorts International, a leading global hospitality and entertainment company, has been attracting attention from investors due to its strong stock performance. On September 19, 2023, the stock was trading at $39.21. However, analysts are predicting a significant increase in the stock price in the next 12 months. According to data from CNN Money, 16 analysts have provided 12-month price forecasts for MGM Resorts International. The median target price is $59.50, with a high estimate of $69.00 and a low estimate of $45.00. This represents a potential increase of 51.77% from the current price. The consensus among 17 polled investment analysts is to buy stock in MGM Resorts International. This rating has remained unchanged since August, indicating a strong sentiment towards the company’s prospects. One factor that may contribute to the positive outlook for MGM Resorts International is its financial performance. In the current quarter, the company reported earnings per share of $0.55 and sales of $3.8 billion. These figures demonstrate the company’s ability to generate revenue and profitability in the challenging market conditions. Investors are eagerly awaiting the upcoming reporting date of November 1, when MGM Resorts International will release its financial results for the quarter. This announcement may provide further insight into the company’s performance and potentially impact the stock price. Overall, the current data and analyst forecasts suggest that MGM Resorts International is a promising investment opportunity. With a consensus buy rating and a median target price indicating a significant increase, investors may consider adding MGM stock to their portfolios. However, it is important to conduct thorough research and consider individual risk tolerance before making any investment decisions.
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