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MGM Resorts and DISH Network have been highlighted as Zacks Bull and Bear of the Day
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For Immediate Release
Chicago, IL – August 8, 2023 – Zacks Equity Research shares MGM Resorts International (MGM - Free Report) as the Bull of the Day and DISH Network as the Bear of the Day. In addition, Zacks Equity Research provides analysis on The Walt Disney Company (DIS - Free Report) , Townsquare (TSQ - Free Report) and On Holding (ONON - Free Report) .
Travel is coming back in a big way. It may have taken a couple years after COVID to get here, but finally things are beginning to get back to normal. It’s led to some great profits for companies in the travel and leisure industry. That includes gambling stocks like today’s Bull of the Day. This stock is not only in a strong industry but it’s also one of the strongest stocks in that industry.
I’m talking about Zacks Rank #1 (Strong Buy) MGM Resorts International. MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM.
MGM Resorts International is in the Gaming industry which ranks in the Top 28% of our Zacks Industry Rank. Not only does it currently enjoy a Zacks Rank #1 (Strong Buy), but it also has a Zacks Value Style Score of A, Growth of A and Momentum of A to help it round out with a VGM Composite Score of A.
The reason for the favorable rank is that over the last week, four analysts have increased their estimates for the current year while five have done so for next year. The bullish moves have pushed up our Zacks Consensus Estimate for the current year from $2.14 to $2.40 while next year’s number is up from $2.31 to $2.69 over the last 30 days.
The market is back within earshot of all-time highs. That means that there are plenty of stocks that are rocketing higher. You may feel like a genius right now, riding the wave. But you have to be careful because when the tide comes in, it could leave you high and dry. One way to put yourself in the best position to succeed is by investing in stocks that have strong earnings trends. Stocks with strong earnings trends tend to stay in the green from a profit perspective longer than those who have their numbers dancing all over the place.
One stock that has seen some weakness in its trend is today’s Bear of the Day, DISH Network. DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
DISH Network is currently a Zacks Rank #5 (Strong Sell). The reason for the unfavorable rank is that analysts have cut their earnings estimates for the current year and next year. The bearish moves have pushed down our Zacks Consensus Estimates for the current year from $1.38 to $1.22 for the current year while next year’s number is off from $1.03 to 59 cents.
The Cable Television industry is currently in the Bottom 13% of our Zacks Industry Rank. There are no stocks in that industry which are in the good graces of our Zacks Rank.
Additional content:
What's in the Cards for Disney's (DIS - Free Report) Fiscal Q3 Earnings?
The Zacks Consensus Estimate for earnings has moved down by 3% to 99 cents per share over the past 30 days, indicating a decrease of 9.17% year over year.
The consensus mark for revenues is pegged at $22.44 billion, suggesting growth of 4.34% from the year-ago quarter’s reported figure.
Notably, Disney’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining quarter, the average surprise being 5.98%.
Let’s see how things have shaped up for this announcement.
Factors to Consider
Disney’s third-quarter fiscal 2023 results are expected to reflect declining Disney+ subscriber growth. Disney+, as of Apr 1, 2023, had 157.8 million paid subscribers compared with 161.8 million as of Dec 31, 2022.
Stiff competition from the likes of Amazon prime video and Netflix, as well as the growing prominence of services from Apple, Peacock and HBO Max, is expected to have hurt Disney+’s growth in the to-be-reported quarter.
Our model estimate for the number of paid subscribers of Disney+ is currently pegged at 149.8 million, suggesting an 8.8% year-over-year decline.
Parks, Experiences and Products businesses are expected to have benefited from strong occupancy.
Our model estimate for Parks, Experiences & Consumer Products revenues is currently pegged at $8.06 billion, indicating growth of 13.5% from the figure reported in the year-ago quarter.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Disney has an Earnings ESP of -9.14% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
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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MGM Resorts and DISH Network have been highlighted as Zacks Bull and Bear of the Day
For Immediate Release
Chicago, IL – August 8, 2023 – Zacks Equity Research shares MGM Resorts International (MGM - Free Report) as the Bull of the Day and DISH Network as the Bear of the Day. In addition, Zacks Equity Research provides analysis on The Walt Disney Company (DIS - Free Report) , Townsquare (TSQ - Free Report) and On Holding (ONON - Free Report) .
Here is a synopsis of all five stocks.
Bull of the Day:
Travel is coming back in a big way. It may have taken a couple years after COVID to get here, but finally things are beginning to get back to normal. It’s led to some great profits for companies in the travel and leisure industry. That includes gambling stocks like today’s Bull of the Day. This stock is not only in a strong industry but it’s also one of the strongest stocks in that industry.
I’m talking about Zacks Rank #1 (Strong Buy) MGM Resorts International. MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. The company's casino operations include slots and table games, as well as online sports betting and iGaming through BetMGM.
MGM Resorts International is in the Gaming industry which ranks in the Top 28% of our Zacks Industry Rank. Not only does it currently enjoy a Zacks Rank #1 (Strong Buy), but it also has a Zacks Value Style Score of A, Growth of A and Momentum of A to help it round out with a VGM Composite Score of A.
The reason for the favorable rank is that over the last week, four analysts have increased their estimates for the current year while five have done so for next year. The bullish moves have pushed up our Zacks Consensus Estimate for the current year from $2.14 to $2.40 while next year’s number is up from $2.31 to $2.69 over the last 30 days.
Bear of the Day:
The market is back within earshot of all-time highs. That means that there are plenty of stocks that are rocketing higher. You may feel like a genius right now, riding the wave. But you have to be careful because when the tide comes in, it could leave you high and dry. One way to put yourself in the best position to succeed is by investing in stocks that have strong earnings trends. Stocks with strong earnings trends tend to stay in the green from a profit perspective longer than those who have their numbers dancing all over the place.
One stock that has seen some weakness in its trend is today’s Bear of the Day, DISH Network. DISH Network Corporation, together with its subsidiaries, provides pay-TV services in the United States. The company operates in two segments, Pay-TV and Wireless. It offers video services under the DISH TV brand; and programming packages that include programming through national broadcast networks, local broadcast networks, and national and regional cable networks, as well as regional and specialty sports channels, premium movie channels, and Latino and international programming packages.
DISH Network is currently a Zacks Rank #5 (Strong Sell). The reason for the unfavorable rank is that analysts have cut their earnings estimates for the current year and next year. The bearish moves have pushed down our Zacks Consensus Estimates for the current year from $1.38 to $1.22 for the current year while next year’s number is off from $1.03 to 59 cents.
The Cable Television industry is currently in the Bottom 13% of our Zacks Industry Rank. There are no stocks in that industry which are in the good graces of our Zacks Rank.
Additional content:
What's in the Cards for Disney's (DIS - Free Report) Fiscal Q3 Earnings?
The Walt Disney Company is set to report its third-quarter fiscal 2023 results on Aug 9.
The Zacks Consensus Estimate for earnings has moved down by 3% to 99 cents per share over the past 30 days, indicating a decrease of 9.17% year over year.
The consensus mark for revenues is pegged at $22.44 billion, suggesting growth of 4.34% from the year-ago quarter’s reported figure.
Notably, Disney’s earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in the remaining quarter, the average surprise being 5.98%.
The Walt Disney Company price-eps-surprise | The Walt Disney Company Quote
Let’s see how things have shaped up for this announcement.
Factors to Consider
Disney’s third-quarter fiscal 2023 results are expected to reflect declining Disney+ subscriber growth. Disney+, as of Apr 1, 2023, had 157.8 million paid subscribers compared with 161.8 million as of Dec 31, 2022.
Stiff competition from the likes of Amazon prime video and Netflix, as well as the growing prominence of services from Apple, Peacock and HBO Max, is expected to have hurt Disney+’s growth in the to-be-reported quarter.
Our model estimate for the number of paid subscribers of Disney+ is currently pegged at 149.8 million, suggesting an 8.8% year-over-year decline.
Parks, Experiences and Products businesses are expected to have benefited from strong occupancy.
Our model estimate for Parks, Experiences & Consumer Products revenues is currently pegged at $8.06 billion, indicating growth of 13.5% from the figure reported in the year-ago quarter.
What Our Model Says
According to the Zacks model, the combination of a positive Earnings ESP and Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Disney has an Earnings ESP of -9.14% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stocks to Consider
Here are a couple companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases:
Townsquare has an Earnings ESP of +4.17% and a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Townsquare shares have gained 59.2% year to date. TSQ is set to report its second-quarter 2023 results on Aug 9.
On Holding has an Earnings ESP of +5.00% and a Zacks Rank #1.
On Holding shares have surged 106.8% year to date. ONON is set to report its second-quarter 2023 results on Aug 15.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.
Why Haven’t You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +6.2 average gain per year. Amazingly, they soared with average gains of +46.4%, +49.5% and +55.2% per year. Today you can access their live picks without cost or obligation.
See Stocks Free >>
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Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks "Terms and Conditions of Service" disclaimer. www.zacks.com/disclaimer.
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.