MGM Resorts International’s Stock Price Takes a Dip at $42.86, Recording a 3.56% Decrease

MGM Resorts International (MGM)

42.86 USD -1.58 (-3.56%) Volume: 3.26M

MGM Resorts International’s stock price is currently at 42.86 USD, experiencing a decline of -3.56% in this trading session with a trading volume of 3.26M. The year-to-date (YTD) performance shows a percentage change of -4.07%, reflecting the challenges faced in the stock market.

Latest developments on MGM Resorts International

Today, MGM Resorts International‘s stock price is experiencing fluctuations following several key events. The company recently partnered with Playtech for live casino offerings and made a significant move into digital gaming with the acquisition of Tipico. Additionally, Wealthcare Advisory Partners LLC sold nearly 1000 shares of MGM stock, impacting market sentiment. On top of that, a major Las Vegas Strip casino residency is set to close, potentially influencing investor confidence in the company’s future prospects.

MGM Resorts International on Smartkarma

Analysts at Baptista Research have provided bullish coverage on MGM Resorts International, highlighting the potential market expansions to the UAE. The company’s Q1 2024 results showed robust performance, with net revenues reaching $4.4 billion, a 13% increase from the previous year. MGM Resorts International also reported a net income of $217 million and an adjusted EBITDAR of over $1.2 billion, demonstrating significant financial growth. The strong performance was attributed to the company’s diversified business model, including its Las Vegas operations, regional properties, MGM China, and the progressing digital segment.

In another report by Baptista Research, analysts discussed the expansion in property locations to the UAE and its potential impact on MGM Resorts International. The company’s Q4 and full 2023 year earnings conference call showed positive results, especially in Las Vegas and MGM China. CEO Bill Hornbuckle mentioned an all-time high in adjusted property EBITDAR for both regions, supported by 7 domestic properties setting records for the same metric. The analysts’ coverage suggests that the expansion in property locations to the UAE could be a game-changer for MGM Resorts International, with major drivers contributing to its growth and success.

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

Based on the Smartkarma Smart Scores, MGM Resorts International shows a positive long-term outlook. With high scores in Growth and Momentum, the company is positioned for potential expansion and strong performance in the future. However, lower scores in Dividend and Resilience indicate some areas of weakness that may need to be addressed for sustained success.

MGM Resorts International, a company that operates gaming, hospitality, and entertainment resorts, has a diverse portfolio of properties in various locations. With a focus on growth and momentum, the company is poised for continued success in the industry. While there are some areas for improvement in terms of dividend and resilience, MGM Resorts International‘s overall outlook remains promising.

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.
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