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If you’re looking for a big winner on the gaming news yesterday, you’re going to have to look at stocks like Penn National (PENN - Free Report) and Boyd Gaming (BYD - Free Report) . These regional players most certainly will benefit from the Supreme Court opening the door for states to legalize sports gambling. Today’s Bear of the Day will also benefit from the ruling, but I want you to know what the earnings picture was like ahead of the recent event. It’s not as rosy as you’d like to believe.
MGM Resorts International (MGM - Free Report) owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. Its casino operations include various slots, table games, and race and sports book wagering. The company operates 14 resorts in the United States; and MGM Macau resort and casino in China, as well as develops an integrated casino, hotel, and entertainment resort on the Cotai Strip, Macau. The company also owns and operates Shadow Creek golf course, Primm Valley Golf Club, and Fallen Oak golf course.
I certainly agree that gaming across the country could help MGM. But until analysts start changing their EPS estimates based on the ruling, MGM is likely to remain a Zacks Rank #5 (Strong Sell). Over the last thirty days, four analysts have dropped their earning estimates for the current quarter while six have dropped their numbers for the current year. The bearish sentiment has dropped the Zacks Consensus Estimate from 38 cents to 27 cents for the current quarter while current year numbers have gone from $1.45 to $1.34.
Again, analysts could very well come in an increase their estimates based on the Supreme Court’s ruling. But an important benchmark for investors should be the previous consensus numbers of 27 cents for the current quarter and $1.45 for the current year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Bear of the Day: MGM Resorts (MGM)
If you’re looking for a big winner on the gaming news yesterday, you’re going to have to look at stocks like Penn National (PENN - Free Report) and Boyd Gaming (BYD - Free Report) . These regional players most certainly will benefit from the Supreme Court opening the door for states to legalize sports gambling. Today’s Bear of the Day will also benefit from the ruling, but I want you to know what the earnings picture was like ahead of the recent event. It’s not as rosy as you’d like to believe.
MGM Resorts International (MGM - Free Report) owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. Its casino operations include various slots, table games, and race and sports book wagering. The company operates 14 resorts in the United States; and MGM Macau resort and casino in China, as well as develops an integrated casino, hotel, and entertainment resort on the Cotai Strip, Macau. The company also owns and operates Shadow Creek golf course, Primm Valley Golf Club, and Fallen Oak golf course.
I certainly agree that gaming across the country could help MGM. But until analysts start changing their EPS estimates based on the ruling, MGM is likely to remain a Zacks Rank #5 (Strong Sell). Over the last thirty days, four analysts have dropped their earning estimates for the current quarter while six have dropped their numbers for the current year. The bearish sentiment has dropped the Zacks Consensus Estimate from 38 cents to 27 cents for the current quarter while current year numbers have gone from $1.45 to $1.34.
Again, analysts could very well come in an increase their estimates based on the Supreme Court’s ruling. But an important benchmark for investors should be the previous consensus numbers of 27 cents for the current quarter and $1.45 for the current year.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>