Sentiment is bullish on MGM stock, with 13 of 18 analysts having a Buy or Strong Buy rating and the rest rating it at Hold. At a share price of around $41.00, the upside potential based on a median price target of $49.00 is 19.5%. At the high price target of $67.00, the upside potential is 63.4%.
The consensus third-quarter 2021 revenue estimate is $2.42 billion, up 6.8% sequentially and more than double last year’s third-quarter sales. MGM is forecast to post a loss per share of $1.57, worse than the prior quarter’s loss of $1.39 and also worse than the year-ago quarter’s EPS of $0.03. For the full year, analysts are expecting a loss per share of $2.79, much worse than last year’s loss per share of $0.67, on sales of $12.88 billion, up 33.1%.
MGM shares trade at 76.3 times estimated 2023 earnings of $0.54 and 34.9 times estimated 2024 earnings of $1.18 per share. The stock’s 52-week range is $26.41 to $49.00. MGM pays an annual dividend of $0.01 (yield of 0.02%), and total shareholder return for the past year was negative 7.38%.
Robinhood
Within a week of its initial public offering in late July last year, shares of Robinhood Markets Inc. (NASDAQ: HOOD) had doubled in price. As of Monday’s close, the stock traded 70% below that high. Since the beginning of the year, however, the stock has added just over 30% to its share price.
In an interview with The Wall Street Journal, the company’s chief brokerage officer spelled out Robinhood’s objections to a recent SEC proposal that would ban payment for order flow (PFOF), a practice that made it possible for the company to offer no-commission trades. If adopted, the proposal will replace PFOF with a high-speed auction that would determine which trading house would execute the transaction.
Just 14 brokerages cover the stock. Of those, only three have a Buy or Strong Buy rating, and seven more rate the stock at Hold. At Monday’s closing price of $10.60, the shares have outrun their median price target of $10.00. At the high price target of $25.00, the upside potential is 136%.
For the fourth quarter of 2022, revenue is forecast at $395.16 million, up 9.5% sequentially and by 8.9% year over year. Analysts are looking for an adjusted loss per share of $0.08, compared to a loss of $0.10 per share in the previous quarter and the year-ago loss of $0.49 per share. For the full 2022 fiscal year, current consensus estimates call for an adjusted loss per share of $0.96, far below the 2021 fiscal year loss of $7.49 per share. Revenue is forecast at $1.37 billion, down 24.5%.
Robinhood is not expected to post a profit until 2025. The 52-week trading range is $6.81 to $16.49. The company does not pay a dividend. The total shareholder return for the past year was negative 30.17%.
Originally published at 24/7 Wall St.
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