MGM Resorts (MGM) closed at $17.18 in the latest trading session, marking a -0.29% move from the prior day. This move lagged the S&P 500's daily gain of 0.48%. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq added 1.29%.
Investors will be hoping for strength from MGM as it approaches its next earnings release. In that report, analysts expect MGM to post earnings of -$1.46 per share. This would mark a year-over-year decline of 734.78%. Meanwhile, our latest consensus estimate is calling for revenue of $541.92 million, down 83.19% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.21 per share and revenue of $6.56 billion, which would represent changes of -131.19% and -49.11%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for MGM. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for 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.
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. The Zacks Consensus EPS estimate has moved 257.64% lower within the past month. MGM is currently sporting a Zacks Rank of #4 (Sell).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 79, which puts it in the top 32% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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MGM Resorts International (MGM) : Free Stock Analysis Report
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