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Unveiling MGM (MGM) Q3 Outlook: Wall Street Estimates for Key Metrics
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Analysts on Wall Street project that MGM Resorts (MGM - Free Report) will announce quarterly earnings of $0.58 per share in its forthcoming report, representing a decline of 9.4% year over year. Revenues are projected to reach $4.22 billion, increasing 6.2% from the same quarter last year.
Over the last 30 days, there has been a downward revision of 9.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some MGM metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenues- Total Las Vegas Strip Resorts' should come in at $2.14 billion. The estimate indicates a year-over-year change of +1.7%.
The consensus among analysts is that 'Revenues- Corporate and other/ Management and other operations' will reach $151.26 million. The estimate indicates a change of +16.5% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- MGM China' of $943.58 million. The estimate indicates a change of +16.1% from the prior-year quarter.
Analysts predict that the 'Revenues- Total Regional Operations' will reach $950.05 million. The estimate indicates a change of +2.7% from the prior-year quarter.
Analysts expect 'Adjusted Property EBITDA- Total Las Vegas Strip Resorts' to come in at $743.28 million. Compared to the current estimate, the company reported $714.09 million in the same quarter of the previous year.
The average prediction of analysts places 'Adjusted Property EBITDA- Total Regional Operations' at $296.27 million. Compared to the current estimate, the company reported $293.26 million in the same quarter of the previous year.
Analysts' assessment points toward 'Adjusted Property EBITDA- MGM China' reaching $259.74 million. The estimate compares to the year-ago value of $226.12 million.
The combined assessment of analysts suggests that 'Adjusted Property EBITDA- Unconsolidated resorts/affiliates' will likely reach -$33.33 million. Compared to the present estimate, the company reported $19.81 million in the same quarter last year.
Analysts forecast 'Adjusted Property EBITDA- Management and other operations' to reach -$0.65 million. The estimate is in contrast to the year-ago figure of $18.25 million.
MGM shares have witnessed a change of +1.9% in the past month, in contrast to the Zacks S&P 500 composite's +2% move. With a Zacks Rank #4 (Sell), MGM is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Unveiling MGM (MGM) Q3 Outlook: Wall Street Estimates for Key Metrics
Analysts on Wall Street project that MGM Resorts (MGM - Free Report) will announce quarterly earnings of $0.58 per share in its forthcoming report, representing a decline of 9.4% year over year. Revenues are projected to reach $4.22 billion, increasing 6.2% from the same quarter last year.
Over the last 30 days, there has been a downward revision of 9.2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
That said, let's delve into the average estimates of some MGM metrics that Wall Street analysts commonly model and monitor.
According to the collective judgment of analysts, 'Revenues- Total Las Vegas Strip Resorts' should come in at $2.14 billion. The estimate indicates a year-over-year change of +1.7%.
The consensus among analysts is that 'Revenues- Corporate and other/ Management and other operations' will reach $151.26 million. The estimate indicates a change of +16.5% from the prior-year quarter.
The collective assessment of analysts points to an estimated 'Revenues- MGM China' of $943.58 million. The estimate indicates a change of +16.1% from the prior-year quarter.
Analysts predict that the 'Revenues- Total Regional Operations' will reach $950.05 million. The estimate indicates a change of +2.7% from the prior-year quarter.
Analysts expect 'Adjusted Property EBITDA- Total Las Vegas Strip Resorts' to come in at $743.28 million. Compared to the current estimate, the company reported $714.09 million in the same quarter of the previous year.
The average prediction of analysts places 'Adjusted Property EBITDA- Total Regional Operations' at $296.27 million. Compared to the current estimate, the company reported $293.26 million in the same quarter of the previous year.
Analysts' assessment points toward 'Adjusted Property EBITDA- MGM China' reaching $259.74 million. The estimate compares to the year-ago value of $226.12 million.
The combined assessment of analysts suggests that 'Adjusted Property EBITDA- Unconsolidated resorts/affiliates' will likely reach -$33.33 million. Compared to the present estimate, the company reported $19.81 million in the same quarter last year.
Analysts forecast 'Adjusted Property EBITDA- Management and other operations' to reach -$0.65 million. The estimate is in contrast to the year-ago figure of $18.25 million.
View all Key Company Metrics for MGM here>>>
MGM shares have witnessed a change of +1.9% in the past month, in contrast to the Zacks S&P 500 composite's +2% move. With a Zacks Rank #4 (Sell), MGM is expected underperform the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>