MGM Resorts Earnings Preview: Key Expectations and Analyst Estimates
Earnings Release:
Tomorrow afternoon
Outlook:
* Revenue:
* Analysts forecast a 1.9% year-over-year decline to $4.29 billion
* Q4 2022: 21.8% increase
* Adjusted Earnings Per Share:
* Consensus estimate: $0.34
Key Metrics:
* Q4 2022 Financials:
* Revenue: $4.18 billion (5.3% YoY growth)
* Missed analysts' revenue estimates by 1%
* Missed EBITDA and EPS expectations
* Peer Performance:
* Boyd Gaming:
* 9.1% year-over-year revenue growth
* Beat analysts' expectations by 4%
* Stock decreased 1.8% following results
* VF Corp:
* 1.9% revenue increase
* Exceeded estimates by 1.2%
* Stock gained 1.4%
Analyst Sentiment:
* Analysts have mostly reaffirmed their estimates, indicating stability ahead of earnings.
* MGM Resorts has underperformed revenue expectations in four out of the last two years.
* Consumer discretionary stocks have experienced positive sentiment, with an average share price increase of 3.3% over the past month.
Analyst Price Target:
* Average analyst price target: $47.92
* Current share price: $34.29
Disclaimer:
This information is for informational purposes only and should not be considered investment advice.