MGM Resorts (MGM - Free Report) closed the most recent trading day at $21.38, moving -1.11% from the previous trading session. This change was narrower than the S&P 500's 2.37% loss on the day. Elsewhere, the Dow lost 1.92%, while the tech-heavy Nasdaq lost 3.02%.
Prior to today's trading, shares of the casino and resort operator had lost 2.13% over the past month. This has lagged the Consumer Discretionary sector's gain of 1.33% and was narrower than the S&P 500's loss of 2.31% 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 -$1.12 per share, which would represent a year-over-year decline of 461.29%. Our most recent consensus estimate is calling for quarterly revenue of $1.20 billion, down 63.84% from the year-ago period.
MGM's full-year Zacks Consensus Estimates are calling for earnings of -$1.64 per share and revenue of $5.65 billion. These results would represent year-over-year changes of -142.27% and -56.23%, 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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
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 has moved 3.99% higher. MGM is holding a Zacks Rank of #4 (Sell) right now.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 76, which puts it in the top 30% 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.