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MGM Resorts International (NYSE:MGM)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Credit Suisse in a research note issued to investors on Wednesday. They currently have a $33.00 price objective on the stock, up from their previous price objective of $30.00. Credit Suisse’s target price would suggest a potential upside of 30.02% from the stock’s previous close.

The analysts wrote, “As the LV recovery continues we see the MGM portfolio (27% of LV room capacity) as well-positioned for growth. We believe $720m of current investments (not all funded by MGM) including a new arena, convention space, the Delano, and ancillary attractions will pay significant dividends for MGM beginning in 2016, particularly at Mandalay Bay, NY-NY, Luxor and Monte Carlo.”

Several other analysts have also recently commented on the stock. Analysts at Nomura reiterated an “in-line” rating on shares of MGM Resorts International in a research note on Tuesday, May 27th. Separately, analysts at Zacks reiterated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, May 22nd. They now have a $29.00 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of MGM Resorts International from $30.00 to $31.00 in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $28.75.

MGM Resorts International (NYSE:MGM) traded up 0.63% during mid-day trading on Wednesday, hitting $25.54. 3,038,148 shares of the company’s stock traded hands. MGM Resorts International has a 52-week low of $12.87 and a 52-week high of $28.75. The stock’s 50-day moving average is $24.76 and its 200-day moving average is $24.34. The company’s market cap is $12.530 billion. MGM Resorts International also saw a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 24,943,708 shares, a drop of 10.5% from the April 30th total of 27,877,874 shares. Based on an average daily trading volume, of 9,071,415 shares, the short-interest ratio is currently 2.7 days. Approximately 6.7% of the company’s stock are short sold.

MGM Resorts International (NYSE:MGM) last released its earnings data on Tuesday, April 29th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.09 by $0.12. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was up 11.8% on a year-over-year basis. Analysts expect that MGM Resorts International will post $0.51 EPS for the current fiscal year.

In other MGM Resorts International news, EVP Christopher W. Nordling sold 5,687 shares of the stock on the open market in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $25.73, for a total transaction of $146,326.51. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

MGM Resorts International is a holding company. The Company is a hospitality company. The Company’s primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities.

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