In the latest trading session, MGM Resorts (MGM) closed at $15.79, marking a -0.63% move from the previous day. This move lagged the S&P 500's daily loss of 0.62%. Meanwhile, the Dow lost 0.69%, and the Nasdaq, a tech-heavy index, lost 0.94%.
Heading into today, shares of the casino and resort operator had lost 4.85% over the past month, lagging the Consumer Discretionary sector's gain of 3.32% and the S&P 500's gain of 3.51% in that time.
Wall Street will be looking for positivity from MGM as it approaches its next earnings report date. This is expected to be July 30, 2020. On that day, MGM is projected to report earnings of -$1.65 per share, which would represent a year-over-year decline of 817.39%. Meanwhile, our latest consensus estimate is calling for revenue of $442.57 million, down 86.27% from the prior-year quarter.
MGM's full-year Zacks Consensus Estimates are calling for earnings of -$1.68 per share and revenue of $6.21 billion. These results would represent year-over-year changes of -143.3% and -51.87%, respectively.
Any recent changes to analyst estimates for MGM should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 7.6% lower. MGM is holding a Zacks Rank of #5 (Strong Sell) right now.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 185, putting it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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