The market has sort of lulled investors to sleep as of late. A very tight range met with low trading volume made for a very boring week. That’s likely to change as earnings season gets into full swing. Traders will quickly be reacting to earnings reports, using guidance to try and figure out the next big thing. Today’s Bear of the Day is a stock that has seen some negative earnings estimate revisions as of late. It may be one to avoid heading into this next season.
I’m talking about Zacks Rank #5 (Strong Sell) Caesars Entertainment (CZR - Free Report) . Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service. As of December 31, 2018, it had 50 casinos, including 37 casinos in the United States and 13 casinos internationally with approximately 3 million square feet of gaming space and 40,000 hotel rooms.
The reason for the negative Zacks Rank lies in a series of negative earnings estimate revisions. Over the last sixty days, four analysts have cut their estimates for the current quarter while six have followed suit for the current year. The negative moves have pushed down our Zacks Consensus Estimates down from a loss of 9 cents to a loss of 17 cents for the current quarter, while the current year number is off from a 10-cent loss to a 42 cent-loss.
Investors looking for other stocks in the same industry should dig a little further on two Zacks Rank #2 (Buy) stocks. Both Las Vegas Sands (LVS - Free Report) and PlayAGS (AGS - Free Report) currently have this Zacks Rank.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The market has sort of lulled investors to sleep as of late. A very tight range met with low trading volume made for a very boring week. That’s likely to change as earnings season gets into full swing. Traders will quickly be reacting to earnings reports, using guidance to try and figure out the next big thing. Today’s Bear of the Day is a stock that has seen some negative earnings estimate revisions as of late. It may be one to avoid heading into this next season.
I’m talking about Zacks Rank #5 (Strong Sell) Caesars Entertainment (CZR - Free Report) . Caesars Entertainment Corporation, through its subsidiaries, provides casino-entertainment and hospitality services in the United States and internationally. The company operates 39,000 slot machines and 2,700 table games, as well as other games comprising keno, poker, and race and sports books; and approximately 180 buffets, restaurants, bars, nightclubs, and lounges located throughout its casinos, as well as banquets and room service. As of December 31, 2018, it had 50 casinos, including 37 casinos in the United States and 13 casinos internationally with approximately 3 million square feet of gaming space and 40,000 hotel rooms.
The reason for the negative Zacks Rank lies in a series of negative earnings estimate revisions. Over the last sixty days, four analysts have cut their estimates for the current quarter while six have followed suit for the current year. The negative moves have pushed down our Zacks Consensus Estimates down from a loss of 9 cents to a loss of 17 cents for the current quarter, while the current year number is off from a 10-cent loss to a 42 cent-loss.
Investors looking for other stocks in the same industry should dig a little further on two Zacks Rank #2 (Buy) stocks. Both Las Vegas Sands (LVS - Free Report) and PlayAGS (AGS - Free Report) currently have this Zacks Rank.
Radical New Technology Creates $12.3 Trillion OpportunityImagine buying Microsoft stock in the early days of personal computers… or Motorola after it released the world’s first cell phone. These technologies changed our lives and created massive profits for investors.
Today, we’re on the brink of the next quantum leap in technology. 7 innovative companies are leading this “4th Industrial Revolution” - and early investors stand to earn the biggest profits.
See the 7 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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