Yahoo Finance MGM Resorts (MGM) Stock Sinks As Market Gains: What You Should Know
MGM Resorts (MGM) closed the most recent trading day at $16.77, moving -0.18% from the previous trading session. This change lagged the S&P 500's daily gain of 0.5%. Meanwhile, the Dow lost 0.3%, and the Nasdaq, a tech-heavy index, added 0.95%.
Coming into today, shares of the casino and resort operator had lost 7.69% in the past month. In that same time, the Consumer Discretionary sector gained 1.22%, while the S&P 500 gained 1.89%.
MGM will be looking to display strength as it nears its next earnings release. 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%. Meanwhile, our latest consensus estimate is calling for revenue of $541.92 million, down 83.19% from the prior-year quarter.
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 revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 0.38% 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 155, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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