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MGM Resorts (MGM) Gains As Market Dips: What You Should Know
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MGM Resorts (MGM - Free Report) closed the most recent trading day at $31.67, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Prior to today's trading, shares of the casino and resort operator had gained 14.24% over the past month. This has outpaced the Consumer Discretionary sector's gain of 8.76% and the S&P 500's gain of 3.21% in that time.
MGM will be looking to display strength as it nears its next earnings release. On that day, MGM is projected to report earnings of -$0.92 per share, which would represent a year-over-year decline of 1250%. Meanwhile, our latest consensus estimate is calling for revenue of $1.54 billion, down 51.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.27 per share and revenue of $5.25 billion, which would represent changes of -158.51% and -59.32%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MGM. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. MGM is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% 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.
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MGM Resorts (MGM) Gains As Market Dips: What You Should Know
MGM Resorts (MGM - Free Report) closed the most recent trading day at $31.67, moving +1.77% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.35%. Meanwhile, the Dow lost 0.41%, and the Nasdaq, a tech-heavy index, lost 0.07%.
Prior to today's trading, shares of the casino and resort operator had gained 14.24% over the past month. This has outpaced the Consumer Discretionary sector's gain of 8.76% and the S&P 500's gain of 3.21% in that time.
MGM will be looking to display strength as it nears its next earnings release. On that day, MGM is projected to report earnings of -$0.92 per share, which would represent a year-over-year decline of 1250%. Meanwhile, our latest consensus estimate is calling for revenue of $1.54 billion, down 51.6% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$2.27 per share and revenue of $5.25 billion, which would represent changes of -158.51% and -59.32%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MGM. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection has moved 0.08% lower. MGM is currently sporting a Zacks Rank of #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 192, putting it in the bottom 25% 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.