Citigroup Maintains MGM Resorts International to Buy with Price Target $32.00

Brokerage firm Citigroup Maintains its rating on MGM Resorts International(NYSE:MGM). In a research note issued to the investors, the brokerage major Raises the price-target to $32.00 per share. The shares have been rated Buy. The rating by Citigroup was issued on Apr 13, 2016.

In a different note, On Jan 26, 2016, Susquehanna said it Maintains its rating on MGM Resorts International. According to the research note, Susquehanna Lowers the price target to $28 per share from a prior target of $31. The shares have been rated ‘Positive’ by the firm.

MGM Resorts International (MGM) shares turned negative on Fridays trading session with the shares closing down -0.02 points or -0.09% at a volume of 27,23,192. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $22.891. The peak price level was also seen at $22.891 while the days lowest was $22.64. Finally the shares closed at $22.79. The 52-week high of the shares is $24.41 while the 52-week low is $16.18. According to the latest information available, the market cap of the company is $12,873 M.

MGM Resorts International(MGM) last announced its earnings results on Feb 18, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $2.19B. Analysts had an estimated revenue of $2.25B. Earnings per share were $-0.01. Analysts had estimated an EPS of $0.07.

Several Insider Transactions has been reported to the SEC. On Mar 15, 2016, Roland A Hernandez (director) sold 12,285 shares at $21.06 per share price.Also, On Mar 15, 2016, William Warwick Grounds (director) purchased 1,250 shares at $20.77 per share price.On Mar 10, 2016, Phyllis James (EVP SPECIAL COUNSEL-LITIGATION) sold 18,520 shares at $20.30 per share price, according to the Form-4 filing with the securities and exchange commission.

MGM Resorts International is a holding company. Through its wholly owned subsidiaries the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations including hotel food and beverage entertainment and other non-gaming amenities. Its casino operations feature a variety of table games and race and sports book wagering. It operates over 15 wholly owned resorts in the United States. The MGM China segment’s operations consist of the MGM Macau resort and casino (MGM Macau) and the development of a gaming resort in Cotai Macau. It owns and operates two resorts in Mississippi which includes Beau Rivage in Biloxi and Gold Strike Tunica. It also owns Shadow Creek Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier Mississippi.

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