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The Zacks Analyst Blog Highlights: Penn National Gaming, Capital One Financial, CocaCola, ViacomCBS and AT&T
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For Immediate Release
Chicago, IL – March 23, 2021 – 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: Penn National Gaming, Inc. (PENN - Free Report) , Capital One Financial Corp. (COF - Free Report) , The CocaCola Company (KO - Free Report) , ViacomCBS Inc. and AT&T Inc. (T - Free Report) .
Here are highlights from Monday’s Analyst Blog:
The Big Dance Is Back: 5 Stocks to Cash in on March Madness
The most popular college basketball tournament, popularly known as March Madness, kicked off last week. It will be the first National Collegiate Athletic Association’s (NCAA) basketball event in two years. Last year, particularly, the major sports event, also known as Big Dance, was stalled by the coronavirus outbreak.
Nonetheless, this year’s March Madness is set to be all the more popular, thanks to the repressed demand for the big sporting occasion. The national sporting event will now grasp the psyche of Americans through April’s first week.
In fact, it is now expected that this year’s March Madness may turn out to be the most gambled sporting extravaganza ever. This is because the sporting event is expected to witness an eye-popping total legal bet between $1 billion and $1.5 billion in the United States, per PlayUSA, as mentioned in a MarketWatch article.
In fact, as quoted in the MarketWatch article, lead analyst for PlayUSA.com, Dustin Gouker, said that “the Super Bowl draws the most bets for a single game, but March Madness and its 60+ games should more than double what the Super Bowl draws.” Lest we forget, the Supreme Court had introduced a law that helped several states to legalize sports betting and online gaming in 2018.
Additionally, the American Gaming Association (AGA), as mentioned in an investors.com article, projected citing a Morning Consult survey that around 18 million people will place their bets this time, up a staggering 206% from 5.8 million in 2019.
AGA President and CEO Bill Miller, as quoted in a prnewswire.com article, said that “the sports betting landscape has changed dramatically since 2019 – and as a result, tournament betting has transformed.” He further added that “as consumers formerly limited to bracket contests now enjoy access to legal sportsbook options, they also plan to place traditional sports bets as March Madness returns.”
Therefore, gambling stocks at present might see the biggest win from the NCAA’s Big Dance. Notable among them is Penn National Gaming. The company is one of the foremost, multi-jurisdictional owners of gaming facilities, with video gaming terminal operations. Its strong brand, partnership with Barstool Sports and an array of acquisitions are boosting its top line.
The company currently has a Zacks Rank #3 (Hold) and a Growth Score of A. The Zacks Consensus Estimate for its current-year earnings has moved 20.1% north over the past 60 days. The company’s expected earnings growth rate for the current and next quarter is 366.7% and 121.3%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.
But why just gambling stocks? Major sponsors of March Madness are poised to gain from the millions of viewers the sporting event is expected to draw. Noteworthy among them are Capital One Financial Corp. and The CocaCola Company.
Presently, Capital One Financial has a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for its current-year earnings has risen 25.4% over the past 60 days. The company’s expected earnings growth rate for the current and next quarter is 224.5% and 301.2%, respectively.
What’s more, the company’s expected earnings growth rate for the current year is nearly 138%. Similarly, the CocaCola Company has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has climbed 1.4% over the past 60 days. Additionally, the company’s expected earnings growth rate for the current year is 8.7%.
Talking about viewership, the broadcasters of this sport-related phenomenon are set to benefit. Things are, therefore, looking up for media stalwart ViacomCBS as well as telecommunication behemoth AT&T. ViacomCBS is expected to broadcast the games at final stages, while many games will be shown on AT&T-owned channels like TBS, TNT, and truTV.
ViacomCBS currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-quarter earnings has moved up 12.8% over the past 60 days. The company’s expected earnings growth rate for the next five-year period is a solid 14%. Meanwhile, AT&T has a Zacks Rank #3 and its expected earnings growth rate for the next five-year period is 2.5%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
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.
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The Zacks Analyst Blog Highlights: Penn National Gaming, Capital One Financial, CocaCola, ViacomCBS and AT&T
For Immediate Release
Chicago, IL – March 23, 2021 – 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: Penn National Gaming, Inc. (PENN - Free Report) , Capital One Financial Corp. (COF - Free Report) , The CocaCola Company (KO - Free Report) , ViacomCBS Inc. and AT&T Inc. (T - Free Report) .
Here are highlights from Monday’s Analyst Blog:
The Big Dance Is Back: 5 Stocks to Cash in on March Madness
The most popular college basketball tournament, popularly known as March Madness, kicked off last week. It will be the first National Collegiate Athletic Association’s (NCAA) basketball event in two years. Last year, particularly, the major sports event, also known as Big Dance, was stalled by the coronavirus outbreak.
Nonetheless, this year’s March Madness is set to be all the more popular, thanks to the repressed demand for the big sporting occasion. The national sporting event will now grasp the psyche of Americans through April’s first week.
In fact, it is now expected that this year’s March Madness may turn out to be the most gambled sporting extravaganza ever. This is because the sporting event is expected to witness an eye-popping total legal bet between $1 billion and $1.5 billion in the United States, per PlayUSA, as mentioned in a MarketWatch article.
In fact, as quoted in the MarketWatch article, lead analyst for PlayUSA.com, Dustin Gouker, said that “the Super Bowl draws the most bets for a single game, but March Madness and its 60+ games should more than double what the Super Bowl draws.” Lest we forget, the Supreme Court had introduced a law that helped several states to legalize sports betting and online gaming in 2018.
Additionally, the American Gaming Association (AGA), as mentioned in an investors.com article, projected citing a Morning Consult survey that around 18 million people will place their bets this time, up a staggering 206% from 5.8 million in 2019.
AGA President and CEO Bill Miller, as quoted in a prnewswire.com article, said that “the sports betting landscape has changed dramatically since 2019 – and as a result, tournament betting has transformed.” He further added that “as consumers formerly limited to bracket contests now enjoy access to legal sportsbook options, they also plan to place traditional sports bets as March Madness returns.”
Therefore, gambling stocks at present might see the biggest win from the NCAA’s Big Dance. Notable among them is Penn National Gaming. The company is one of the foremost, multi-jurisdictional owners of gaming facilities, with video gaming terminal operations. Its strong brand, partnership with Barstool Sports and an array of acquisitions are boosting its top line.
The company currently has a Zacks Rank #3 (Hold) and a Growth Score of A. The Zacks Consensus Estimate for its current-year earnings has moved 20.1% north over the past 60 days. The company’s expected earnings growth rate for the current and next quarter is 366.7% and 121.3%, respectively. You can see the complete list of today’s Zacks #1 Rank stocks here.
But why just gambling stocks? Major sponsors of March Madness are poised to gain from the millions of viewers the sporting event is expected to draw. Noteworthy among them are Capital One Financial Corp. and The CocaCola Company.
Presently, Capital One Financial has a Zacks Rank #1 (Strong Buy). The Zacks Consensus Estimate for its current-year earnings has risen 25.4% over the past 60 days. The company’s expected earnings growth rate for the current and next quarter is 224.5% and 301.2%, respectively.
What’s more, the company’s expected earnings growth rate for the current year is nearly 138%. Similarly, the CocaCola Company has a Zacks Rank #3. The Zacks Consensus Estimate for its current-year earnings has climbed 1.4% over the past 60 days. Additionally, the company’s expected earnings growth rate for the current year is 8.7%.
Talking about viewership, the broadcasters of this sport-related phenomenon are set to benefit. Things are, therefore, looking up for media stalwart ViacomCBS as well as telecommunication behemoth AT&T. ViacomCBS is expected to broadcast the games at final stages, while many games will be shown on AT&T-owned channels like TBS, TNT, and truTV.
ViacomCBS currently has a Zacks Rank #3. The Zacks Consensus Estimate for its current-quarter earnings has moved up 12.8% over the past 60 days. The company’s expected earnings growth rate for the next five-year period is a solid 14%. Meanwhile, AT&T has a Zacks Rank #3 and its expected earnings growth rate for the next five-year period is 2.5%.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020 Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2021 today >>
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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.