MGM Resorts International First Quarter Earnings Sneak Peek

MGM Resorts International (NYSE:MGM) will unveil its latest earnings on Thursday, May 3, 2012. MGM Resorts International is a holding company which, through its wholly-owned subsidiaries, owns and operates casino resorts.

MGM Resorts International Earnings Preview Cheat Sheet

During the past three months, the average estimate has moved down from a loss of 13 cents. Between one and three months ago, the average estimate moved down. It has risen from a loss of 17 cents during the last month.

Past Earnings Performance: Last quarter, the company missed estimates by 3 cents, coming in at a loss of 21 cents per share versus a mean estimate of net loss of 18 cents per share. In the third quarter of the last fiscal year, the company beat estimates by one cent.

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Wall St. Revenue Expectations: On average, analysts predict $2.26 billion in revenue this quarter, a rise of 50.7% from the year-ago quarter. Analysts are forecasting total revenue of $9.38 billion for the year, a rise of 19.5% from last year’s revenue of $7.85 billion.

Analyst Ratings: Analysts are optimistic about this stock, with 15 analysts rating it as a buy, none rating it as a sell and six rating it as a hold.

A Look Back: In the fourth quarter of the last fiscal year, the company’s loss narrowed to a loss of $113.7 million (21 cents a share) from a loss of $139.2 million (25 cents) a year earlier, but missed analyst expectations. Revenue rose 56.6% to $2.3 billion from $1.47 billion.

Key Stats:

On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 3.3% in the first quarter of the last fiscal year, 17.4% in the second quarter of the last fiscal year and 43.4% in the third quarter of the last fiscal year before increasing again in the fourth quarter of the last fiscal year of the last fiscal year.

Stock Price Performance: Between April 23, 2012 and April 27, 2012, the stock price rose 66 cents (5%), from $13.12 to $13.78. The stock price saw one of its best stretches over the last year between September 9, 2011 and September 20, 2011, when shares rose for eight straight days, increasing 9.3% (+94 cents) over that span. It saw one of its worst periods between August 15, 2011 and August 22, 2011 when shares fell for six straight days, dropping 24.1% (-$2.91) over that span.

(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)

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