We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
MGM Resorts (MGM) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
MGM Resorts (MGM - Free Report) closed at $16.70 in the latest trading session, marking a -1.36% move from the prior day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.09%.
Investors will be hoping for strength from MGM as it approaches its next earnings release. In that report, analysts expect MGM to post earnings of -$1.52 per share. This would mark a year-over-year decline of 760.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $541.92 million, down 83.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.21 per share and revenue of $6.56 billion, which would represent changes of -131.19% and -49.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MGM. 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.38% lower within the past month. MGM is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
To follow MGM in the coming trading sessions, be sure to utilize Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
MGM Resorts (MGM) Stock Sinks As Market Gains: What You Should Know
MGM Resorts (MGM - Free Report) closed at $16.70 in the latest trading session, marking a -1.36% move from the prior day. This move lagged the S&P 500's daily gain of 1.1%. Meanwhile, the Dow gained 1.18%, and the Nasdaq, a tech-heavy index, added 1.09%.
Investors will be hoping for strength from MGM as it approaches its next earnings release. In that report, analysts expect MGM to post earnings of -$1.52 per share. This would mark a year-over-year decline of 760.87%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $541.92 million, down 83.19% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$1.21 per share and revenue of $6.56 billion, which would represent changes of -131.19% and -49.11%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for MGM. 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.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.38% lower within the past month. MGM is currently a Zacks Rank #3 (Hold).
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% 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.
To follow MGM in the coming trading sessions, be sure to utilize Zacks.com.