MGM Resorts Third Quarter Earnings Sneak Peek

MGM Resorts (NYSE:MGM) will unveil its latest earnings on Thursday, November 3, 2011. MGM Resorts International is a holding company which, through its wholly-owned subsidiaries, owns and operates casino resorts.

MGM Resorts Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for net loss of 15 cents per share, a narrower loss from the year earlier quarter net loss of 21 cents. 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 been unchanged at a loss of 15 cents during the last month. Analysts are projecting a loss of 53 cents per share versus profit of $1.01 last year.

Past Earnings Performance: Last quarter, the company beat estimates by 5 cents, coming in at net loss of 8 cents a share versus the estimate of a loss of 13 cents a share. It marked the fourth straight quarter of beating estimates.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 42.3% in revenue from the year-earlier quarter to $2.22 billion.

Analyst Ratings: Analysts are bullish on this stock with 16 analysts rating it as a buy, none rating it as a sell and seven rating it as a hold.

Revenue rose 17.4% to $1.81 billion from $1.54 billion.

Key Stats:

Revenue has risen the past four quarters. Revenue rose 3.3% in the first quarter from the year earlier, climbed 1% in the fourth quarter of the last fiscal year from the year-ago quarter and 1.6% in the third quarter of the last fiscal year.

MGM Resorts’ profit last quarter followed losses in the three previous quarters. The company reported a loss of $89.9 million in the first quarter, a loss of $139.2 million in the fourth of the last fiscal year and a loss of $318 million in the third quarter of the last fiscal year.

Competitors to Watch: Las Vegas Sands Corp. (NYSE:LVS), Wynn Resorts, Limited (NASDAQ:WYNN), Melco Crown Entertainment Ltd (NASDAQ:MPEL), Boyd Gaming Corporation (NYSE:BYD), Century Casinos, Inc. (NASDAQ:CNTY), Ameristar Casinos, Inc. (NASDAQ:ASCA), and Monarch Casino & Resort, Inc. (NASDAQ:MCRI).

Stock Price Performance: During September 30, 2011 to October 28, 2011, the stock price had risen $2.73 (29.4%) from $9.29 to $12.02. 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, rising 9.3% (+94 cents) over that span. It saw one of its worst periods between April 20, 2011 and April 29, 2011 when shares fell for seven-straight days, falling 5.5% (-74 cents) over that span. Shares are down $2.83 (-19.1%) year to date.

(Source: Xignite Financials)

Investing Insights: Here’s Why Chipotle’s Stock Keeps Winning.