MGM Resorts (MGM - Free Report) closed the most recent trading day at $23.06, moving +1.45% from the previous trading session. This change outpaced the S&P 500's 1.27% gain on the day. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.87%.
Prior to today's trading, shares of the casino and resort operator had gained 6.51% over the past month. This has outpaced the Consumer Discretionary sector's gain of 1.87% and the S&P 500's gain of 0.37% in that time.
Wall Street will be looking for positivity from MGM as it approaches its next earnings report date. The company is expected to report EPS of -$1.15, down 470.97% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.17 billion, down 64.82% from the year-ago period.
MGM's full-year Zacks Consensus Estimates are calling for earnings of -$1.06 per share and revenue of $5.59 billion. These results would represent year-over-year changes of -127.32% and -56.66%, respectively.
Any recent changes to analyst estimates for MGM should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 15.69% lower within the past month. MGM currently has a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.