With the Q2 earnings season in full swing, we are getting a clearer picture of how companies have performed this quarter. As per the Earnings Trend report, we already have results from over one-third of the S&P 500’s total market capitalization.
As of Jul 22, 126 S&P 500 members have already reported their Q2 results. Earnings of these companies are down 1.1% from the comparable year-ago period on 2.6% lower revenues. However, thanks to lower expectations as a result of macroeconomic uncertainties, 70.6% of these companies have surpassed earnings estimates while 55.6% reported ahead of top-line expectations. This surely indicates a better scenario than Q1.
It looks like the performance of the technology sector will be muted this time despite being a little better than Q1. Earnings are expected to come 3% below the prior-year quarter figure though sales are projected to rise 2.7%.
Gaming companies disappointed in the first quarter given volatile economic conditions in Asia, especially in China and Macau. In Q2, Las Vegas Sands Corp. (LVS), a leading player in the gaming space, reported dismal results citing weakness in Macau. The U.S. gaming market is however expected to do better on the back of an improved economy, better job scenario, lower fuel costs and tourism growth.
Let’s have a look at some gaming stocks that will be releasing their quarterly numbers on Jul 28:
Boyd Gaming Corporation (BYD - Free Report) , a leading company in the entertainment properties space, has delivered positive surprises in the trailing four quarters with an average positive earnings surprise of 86.07%. For this quarter, the company has an Earnings ESP of +3.33%. But it has been seeing downward estimate revisions of late and has a Zacks Rank #4 (Sell), which makes us cautious about its performance this time.
International Game Technology PLC(IGT - Free Report) is a leading player in the casino-style gaming market and offers equipment, technology solutions and gaming content. This Zacks Rank #3 (Hold) company has surpassed estimates in each of the past four quarters, with an average beat of 51.49%. The company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 43 cents.
Penn National Gaming Inc.(PENN - Free Report) , a diversified gaming provider, hasn’t delivered impressive results in the past. The company has an average four-quarter negative surprise of 8.87%, despite beating estimates last quarter. This company has a Zacks Rank #3 and an Earnings ESP of 0.00%. Over the last 7 days, the stock has seen a number of downward estimate revisions, which makes us less confident of a beat this quarter.
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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 >>
With the Q2 earnings season in full swing, we are getting a clearer picture of how companies have performed this quarter. As per the Earnings Trend report, we already have results from over one-third of the S&P 500’s total market capitalization.
As of Jul 22, 126 S&P 500 members have already reported their Q2 results. Earnings of these companies are down 1.1% from the comparable year-ago period on 2.6% lower revenues. However, thanks to lower expectations as a result of macroeconomic uncertainties, 70.6% of these companies have surpassed earnings estimates while 55.6% reported ahead of top-line expectations. This surely indicates a better scenario than Q1.
It looks like the performance of the technology sector will be muted this time despite being a little better than Q1. Earnings are expected to come 3% below the prior-year quarter figure though sales are projected to rise 2.7%.
Gaming companies disappointed in the first quarter given volatile economic conditions in Asia, especially in China and Macau. In Q2, Las Vegas Sands Corp. (LVS), a leading player in the gaming space, reported dismal results citing weakness in Macau. The U.S. gaming market is however expected to do better on the back of an improved economy, better job scenario, lower fuel costs and tourism growth.
Let’s have a look at some gaming stocks that will be releasing their quarterly numbers on Jul 28:
Boyd Gaming Corporation (BYD - Free Report) , a leading company in the entertainment properties space, has delivered positive surprises in the trailing four quarters with an average positive earnings surprise of 86.07%. For this quarter, the company has an Earnings ESP of +3.33%. But it has been seeing downward estimate revisions of late and has a Zacks Rank #4 (Sell), which makes us cautious about its performance this time.
International Game Technology PLC(IGT - Free Report) is a leading player in the casino-style gaming market and offers equipment, technology solutions and gaming content. This Zacks Rank #3 (Hold) company has surpassed estimates in each of the past four quarters, with an average beat of 51.49%. The company has an Earnings ESP of 0.00% as both the Most Accurate estimate and the Zacks Consensus Estimate are pegged at 43 cents.
Penn National Gaming Inc.(PENN - Free Report) , a diversified gaming provider, hasn’t delivered impressive results in the past. The company has an average four-quarter negative surprise of 8.87%, despite beating estimates last quarter. This company has a Zacks Rank #3 and an Earnings ESP of 0.00%. Over the last 7 days, the stock has seen a number of downward estimate revisions, which makes us less confident of a beat this quarter.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
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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