These factors combined reinforce Beynon’s confidence in MGM’s stock. The recently announced $2 billion share repurchase program, along with the remaining $806 million from the third quarter, provides further evidence of the company’s strong financial standing and growth potential. This financial stability positions MGM to capitalize on both capital returns and growth opportunities, particularly in the emerging digital sector and new markets like New York and Japan.
In addition to MGM’s strong performance and promising outlook, Beynon also noted the company’s sturdy balance sheet as a significant factor contributing to his Buy recommendation.
The report also highlighted MGM’s robust standing, with a mix of exposure to various markets, including Vegas, Regional, Macau, and Digital. Furthermore, the expectation of a positive outlook for the company’s operations in Las Vegas and Macau contributed to the optimistic rating. Firstly, MGM’s third quarter earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs (EBITDAR) outperformed across all segments. Macquarie analyst Chad Beynon has maintained their bullish stance on MGM stock, giving a Buy rating yesterday.Ĭhad Beynon’s Buy rating for MGM Resorts is largely influenced by a combination of factors.
