MGM Resorts (MGM) Flat As Market Sinks: What You Should Know
MGM Resorts (MGM) closed the most recent trading day at $21.41, making no change from the previous trading session. This change was narrower than the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.35%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the casino and resort operator had lost 0.97% over the past month, lagging the Consumer Discretionary sector's gain of 1.59% and the S&P 500's gain of 3.82% in that time.
Wall Street will be looking for positivity from MGM as it approaches its next earnings report date. This is expected to be October 29, 2020. The company is expected to report EPS of -$1.07, down 445.16% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.22 billion, down 63.3% from the year-ago period.
MGM's full-year Zacks Consensus Estimates are calling for earnings of -$1.64 per share and revenue of $5.63 billion. These results would represent year-over-year changes of -142.27% and -56.38%, respectively.
Any recent changes to analyst estimates for MGM should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. Within the past 30 days, our consensus EPS projection has moved 0.94% higher. MGM is holding a Zacks Rank of #3 (Hold) right now.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% 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.
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