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MGM Resorts (MGM) Flat As Market Gains: What You Should Know

Zacks Equity Research
·2-min read

MGM Resorts (MGM) closed the most recent trading day at $21.72, making no change from the previous trading session. This change lagged the S&P 500's daily gain of 2.62%. Meanwhile, the Dow gained 3.16%, and the Nasdaq, a tech-heavy index, added 2.06%.

Wall Street will be looking for positivity from MGM as it approaches its next earnings report date. On that day, MGM is projected to report earnings of -$1.52 per share, which would represent a year-over-year decline of 760.87%. Our most recent consensus estimate is calling for quarterly revenue 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.

It is also important to note the 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.

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Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 26.12% lower. 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 86, which puts it in the top 34% 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.

You can find more information on all of these metrics, and much more, on Zacks.com.


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