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Bull of the Day: MGM Resorts (MGM)
Travel is coming back in a big way. It may have taken a couple years after COVID to get here, but finally things are beginning to get back to normal. It’s led to some great profits for companies in the travel and leisure industry. That includes gambling stocks like today’s Bull of the Day. This stock is not only in a strong industry but it’s also one of the strongest stocks in that industry.
I’m talking about Zacks Rank #1 (Strong Buy) MGM Resorts International (MGM - Free Report) . MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM.
Image Source: Zacks Investment Research
MGM Resorts International is in the Gaming industry which ranks in the Top 28% of our Zacks Industry Rank. Not only does it currently enjoy a Zacks Rank #1 (Strong Buy), but it also has a Zacks Value Style Score of A, Growth of A and Momentum of A to help it round out with a VGM Composite Score of A.
The reason for the favorable rank is that over the last week, four analysts have increased their estimates for the current year while five have done so for next year. The bullish moves have pushed up our Zacks Consensus Estimate for the current year from $2.14 to $2.40 while next year’s number is up from $2.31 to $2.69 over the last 30 days.