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MGM Resorts (MGM) Outpaces Stock Market Gains: What You Should Know

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MGM Resorts (MGM) closed the most recent trading day at $16.20, moving +1.25% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.05%. At the same time, the Dow added 1.44%, and the tech-heavy Nasdaq gained 0.66%.

Heading into today, shares of the casino and resort operator had lost 10.31% over the past month, lagging the Consumer Discretionary sector's loss of 3.29% and the S&P 500's loss of 1.56% in that time.

Investors will be hoping for strength from MGM as it approaches its next earnings release. On that day, MGM is projected to report earnings of -$1.52 per share, which would represent a year-over-year decline of 760.87%. Meanwhile, our latest consensus estimate is calling for revenue of $541.92 million, down 83.19% from the prior-year quarter.

MGM's full-year Zacks Consensus Estimates are calling for earnings of -$1.21 per share and revenue of $6.56 billion. These results would represent year-over-year changes of -131.19% and -49.11%, respectively.

Any recent changes to analyst estimates for MGM should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MGM is currently a Zacks Rank #3 (Hold).

The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 36% 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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