Citigroup has downgraded MGM Resorts International (MGM) to Neutral from Buy as of November 20, 2025. The current share price stands at $32.38, with a market capitalisation of $8.5 billion and a P/E ratio of 122.07.
This downgrade suggests increased caution regarding MGM's outlook, potentially reflecting concerns about competitive pressures, market conditions, or execution risks that could affect the company's performance. MGM Resorts International operates in the Hotels, Restaurants & Leisure industry, primarily focusing on casino resorts. Headquartered in Las Vegas, Nevada, the company employs approximately 45,000 full-time staff and operates several prominent properties, including the Bellagio and MGM Grand Las Vegas.
MGM's recent earnings performance has been mixed, with a Q3 2025 EPS of $0.24, significantly below the estimated $0.40, marking a 40.2% surprise. In contrast, the company posted stronger results in previous quarters, such as Q2 2025, where it reported an EPS of $0.79 against an estimate of $0.54, resulting in a 47.4% surprise.
Upcoming earnings are scheduled for July 28, 2026, with analysts estimating an EPS of $0.70 and revenue of $4.5 billion. Analyst consensus currently leans towards a Buy rating, with 6 Strong Buy, 11 Buy, 9 Hold, 1 Sell, and no Strong Sell ratings among 27 total analysts.
Analyst ratings and price targets serve as professional opinions based on research and financial models. While these assessments can offer useful perspectives, they are subject to change as new information becomes available. Investors should consider a range of factors, including company fundamentals and industry trends, when making decisions.