MGM Resorts International’s Stock Price Drops to $31.42, Experiences a 3.41% Decline

MGM Resorts International (MGM)

31.42 USD -1.11 (-3.41%) Volume: 13.13M

MGM Resorts International’s stock price stands at 31.42 USD, recording a trading session decline of -3.41% with a trading volume of 13.13M, and a year-to-date (YTD) percentage change of -9.32%. Stay updated on MGM’s stock performance and market movements.

Latest developments on MGM Resorts International

Recent events have had a significant impact on MGM Resorts International‘s stock performance. Morgan Stanley adjusted the price target on MGM to $37 from $41, while Primecap Management Co. CA sold a large number of shares. Despite these changes, MGM Resorts International launched its new ‘MGM RESERVE’ hotel brand, with the first hotel set to open in Zhuhai in May. The company also faces challenges, such as a credit rating affirmed at junk by Fitch and underperformance compared to competitors. Additionally, MGM is navigating market challenges with strategic growth efforts. With news of a potential Japan casino and the appointment of Ed Domingo as CEO of Crown Melbourne, investors are closely watching how these developments will impact MGM’s stock price in the coming days.

MGM Resorts International on Smartkarma

Analysts at Baptista Research have provided bullish coverage on MGM Resorts International, highlighting the company’s strong earnings results for the fourth quarter and full year of 2024. The report emphasizes MGM’s record consolidated net revenues, domestic slot wins, and improved guest experiences. The company attributes its success to strategic decisions, a solid financial foundation, and growth in traditional and digital operations. Customer service enhancements, particularly for Gold Plus customers, have led to record high Net Promoter Scores, reflecting positively on MGM’s performance.

In another report by Baptista Research, analysts focus on MGM Resorts International‘s emphasis on high-value casino operations to redefine the industry. The company’s Third Quarter 2024 Earnings Call showcased both growth and challenges across its business divisions. Led by CEO Bill Hornbuckle and supported by key executives, MGM reported record consolidated net revenues and strong performance from its subsidiary, MGM China. Baptista Research aims to evaluate factors influencing the company’s future stock price and conduct an independent valuation using a Discounted Cash Flow (DCF) methodology.

A look at MGM Resorts International Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Looking at the Smartkarma Smart Scores for MGM Resorts International, the company seems to have a mixed outlook for the long term. While it scores well in terms of growth and momentum, with scores of 3 and 4 respectively, its value and resilience scores are average at 3 and 2. However, its dividend score is quite low at 1. Overall, this suggests that MGM Resorts International may have potential for growth and positive momentum in the future, but investors should be cautious of its dividend payout.

MGM Resorts International operates gaming, hospitality, and entertainment resorts in various locations. With properties in Nevada, Mississippi, Michigan, and interests in Nevada, Illinois, and Macau, the company offers a wide range of services in the hospitality industry. Although it may face challenges in terms of dividend payouts and resilience, its strong growth and momentum scores indicate promising prospects for the company in the long run.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

Before it’s here, it’s on Smartkarma