We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
The Zacks Analyst Blog Highlights: Las Vegas Sands, MGM Resorts International, Wynn Resorts and Caesars Entertainment
Read MoreHide Full Article
For Immediate Release
Chicago, IL – October 1, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Las Vegas Sands Corp. (LVS - Free Report) , MGM Resorts International (MGM - Free Report) , Wynn Resorts Ltd. (WYNN - Free Report) and Caesars Entertainment Corp. (CZR - Free Report) .
Investors’ apprehension about the Gaming industry increased after Nevada Gaming Control Board pointed out that gaming revenues in the state had declined for the second straight month in August. Gaming industry, which occupies a space in the bottom 35% of the Zacks Classified industries (166 out of the 255), has witnessed a sharp decline of 14.9% in the past six months compared with the S&P 500 11.9% rally.
Las Vegas & Boulder Strip Lose Most
Per Nevada Gaming Control Board, casinos won nearly $913 million from gamblers in August, down 7.7% from the prior-year period. Revenues from the Las Vegas Strip fell 12.4% due to decline in baccarat revenues. Baccarat – a lucrative but volatile card game which is often a major reason behind swinging casino fortunes – fell 8.9% in the same month. Las Vegas Strip witnessed the second largest decline following Boulder Strip’s 16.3% fall in August.
While revenues at North Las Vegas, Laughlin Area and Boulder Strip declined, the same at the Mesquite, Reno and Lake Tahoe markets witnessed a gain. Per analysts, August revenues compared unfavorably with the prior-year’s growth of 21.4%.
Notably, the U.S. gambling market has been a big revenue generator for companies like Las Vegas Sands Corp., MGM Resorts International, Wynn Resorts Ltd. and Caesars Entertainment Corp. Following the news, not much movement was noticed in the share price as the analysts were already anticipating a decline.
Steer Clear of Las Vegas Sands & Wynn Resorts
Shares of Las Vegas Sands have declined 13.1% in the past six months. For 2018 and 2019, earnings estimates witnessed sharp downward revisions of 3.8% and 2.7%, respectively, over the past 60 days. Also, increased hotel openings and promotional activities have made Las Vegas and Macao markets highly competitive. Thus, excess supply, especially in the Macao market, might hurt the company’s market share. Las Vegas Sands currently has a Zacks Rank #4 (Sell).
Wynn Resorts is another stock, which has disappointed investors with its performance. This Zacks Rank #5 (Strong Sell) company has witnessed a sharp decline of 26.8% in the past six months. Further, earnings estimate for 2018 and 2019 moved south 68 cents and 78 cents to $7.58 and $8.92 per share, respectively, over the past 60 days.
Of late, disappointing Macau performance has also been weighing on the company’s performance. Moreover, dismal gaming revenues in Nevada for the second straight month in August increased investors’ woes.
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
The Zacks Analyst Blog Highlights: Las Vegas Sands, MGM Resorts International, Wynn Resorts and Caesars Entertainment
For Immediate Release
Chicago, IL – October 1, 2018 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Las Vegas Sands Corp. (LVS - Free Report) , MGM Resorts International (MGM - Free Report) , Wynn Resorts Ltd. (WYNN - Free Report) and Caesars Entertainment Corp. (CZR - Free Report) .
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
Nevada Gaming Revenues Disappoint: Avoid WYNN & LVS
Investors’ apprehension about the Gaming industry increased after Nevada Gaming Control Board pointed out that gaming revenues in the state had declined for the second straight month in August. Gaming industry, which occupies a space in the bottom 35% of the Zacks Classified industries (166 out of the 255), has witnessed a sharp decline of 14.9% in the past six months compared with the S&P 500 11.9% rally.
Las Vegas & Boulder Strip Lose Most
Per Nevada Gaming Control Board, casinos won nearly $913 million from gamblers in August, down 7.7% from the prior-year period. Revenues from the Las Vegas Strip fell 12.4% due to decline in baccarat revenues. Baccarat – a lucrative but volatile card game which is often a major reason behind swinging casino fortunes – fell 8.9% in the same month. Las Vegas Strip witnessed the second largest decline following Boulder Strip’s 16.3% fall in August.
While revenues at North Las Vegas, Laughlin Area and Boulder Strip declined, the same at the Mesquite, Reno and Lake Tahoe markets witnessed a gain. Per analysts, August revenues compared unfavorably with the prior-year’s growth of 21.4%.
Notably, the U.S. gambling market has been a big revenue generator for companies like Las Vegas Sands Corp., MGM Resorts International, Wynn Resorts Ltd. and Caesars Entertainment Corp. Following the news, not much movement was noticed in the share price as the analysts were already anticipating a decline.
Steer Clear of Las Vegas Sands & Wynn Resorts
Shares of Las Vegas Sands have declined 13.1% in the past six months. For 2018 and 2019, earnings estimates witnessed sharp downward revisions of 3.8% and 2.7%, respectively, over the past 60 days. Also, increased hotel openings and promotional activities have made Las Vegas and Macao markets highly competitive. Thus, excess supply, especially in the Macao market, might hurt the company’s market share. Las Vegas Sands currently has a Zacks Rank #4 (Sell).
Wynn Resorts is another stock, which has disappointed investors with its performance. This Zacks Rank #5 (Strong Sell) company has witnessed a sharp decline of 26.8% in the past six months. Further, earnings estimate for 2018 and 2019 moved south 68 cents and 78 cents to $7.58 and $8.92 per share, respectively, over the past 60 days.
Of late, disappointing Macau performance has also been weighing on the company’s performance. Moreover, dismal gaming revenues in Nevada for the second straight month in August increased investors’ woes.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons.
Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
Follow us on Twitter: https://twitter.com/zacksresearch
Join us on Facebook: https://www.facebook.com/home.php#/pages/Zacks-Investment-Research/57553657748?ref=ts
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Media Contact
Zacks Investment Research
800-767-3771 ext. 9339
support@zacks.com
https://www.zacks.com/
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.