MGM Resorts International (MGM) was Reiterated by Nomura to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 32 from a previous price target of $28 . Nomura advised their investors in a research report released on Oct 5, 2016.
On the company’s financial health, MGM Resorts International reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $2269.50 million for the quarter, compared to analysts expectations of $2330.39 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.
MGM Resorts International opened for trading at $26.33 and hit $26.4 on the upside on Tuesday, eventually ending the session at $26.23, with a gain of 0.15% or 0.04 points. The heightened volatility saw the trading volume jump to 39,85,735 shares. Company has a market cap of $14,836 M.
In a different news, on Sep 1, 2016, John Mcmanus (EVP GENERAL COUNSEL AND SECY) sold 12,363 shares at $24.45 per share price. According to the SEC, on Aug 12, 2016, Alexis Herman (director) sold 2,391 shares at $24.66 per share price. On Jun 14, 2016, Mary Christine Gay (director) sold 5,300 shares at $23.89 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 segments 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.