The upcoming report from MGM Resorts (MGM) is expected to reveal quarterly earnings of $0.32 per share, indicating a decline of 69.8% compared to the year-ago period. Analysts forecast revenues of $4.28 billion, representing a decrease of 2.1% year over year.
The current level reflects a downward revision of 9.4% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial projections over this period.
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.
Bearing this in mind, let's now explore the average estimates of specific MGM metrics that are commonly monitored and projected by Wall Street analysts.
The combined assessment of analysts suggests that 'Revenues- Corporate and other/ Management and other operations' will likely reach $167.45 million. The estimate suggests a change of +12.3% year over year.
Based on the collective assessment of analysts, 'Revenues- MGM China' should arrive at $969.45 million. The estimate indicates a change of -1.3% from the prior-year quarter.
Analysts predict that the 'Revenues- Total Las Vegas Strip Resorts' will reach $2.22 billion. The estimate suggests a change of -6.5% year over year.
Analysts forecast 'Revenues- Total Regional Operations' to reach $915.49 million. The estimate indicates a year-over-year change of +4.8%.
Analysts' assessment points toward 'Las Vegas Strip Resorts - Slots Handle' reaching $6,385.66. Compared to the present estimate, the company reported $6,516 in the same quarter last year.
The consensus estimate for 'Las Vegas Strip Resorts - Table Games Drop' stands at $1,620.98. Compared to the current estimate, the company reported $1,702 in the same quarter of the previous year.
Analysts expect 'Adjusted Property EBITDA- Total Las Vegas Strip Resorts' to come in at $754.40 million. Compared to the current estimate, the company reported $864.06 million in the same quarter of the previous year.
The collective assessment of analysts points to an estimated 'Adjusted Property EBITDA- Total Regional Operations' of $269.79 million. The estimate compares to the year-ago value of $233 million.
The consensus among analysts is that 'Adjusted Property EBITDA- MGM China' will reach $248.07 million. Compared to the present estimate, the company reported $262.44 million in the same quarter last year.
It is projected by analysts that the 'Adjusted Property EBITDA- Unconsolidated resorts/affiliates' will reach -$42.92 million. The estimate compares to the year-ago value of $3.84 million.
View all Key Company Metrics for MGM here>>>
Over the past month, shares of MGM have returned +8.5% versus the Zacks S&P 500 composite's +2.1% change. Currently, MGM carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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