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Feb 02, 2021

3 Gaming Stocks Expected to Make Bullish Moves over the Next Month

Many gaming companies are struggling due to the restrictions on occupancy in public buildings. Large casinos have had to operate with considerably lower floor traffic than they are used to and would like. The earnings and revenue estimates for the industry have been ratcheted down as a result of the restrictions.

The stocks get hit hard during the first quarter of 2020, but most are trading back above the level they were at before the pandemic hit. Many stocks in the gaming industry have come under some selling pressure in recent weeks, but there were three that got high confidence level bullish signals on January 29. The signals call for gains of at least 4% over the next month.

The three companies are Caesars Entertainment (CZR), International Game Technology (IGT), and MGM Resorts International (MGM). The bullish signals for MGM and IGT both showed confidence levels of 89% and the one for Caesars showed a confidence level of 87%.

If you look at the fundamental analysis scores of the three stocks, you will see the struggles I mentioned earlier. IGT has two positive indicators and three negative indicators and that is the best of the three. MGM has one positive indicator and four negative ones. Caesars doesn’t have any positive indicators and it has three negative ones.

But these bullish signals are based more on the technical indicators than they are the fundamentals. We see that both IGT and Caesars have four bullish signals and three bearish signals. MGM has three bullish signals and four bearish signals.

On the fundamental side, the only area where there are multiple positive readings is the Valuation Ratings for MGM and IGT. The one area where there is consensus is that all three score poorly in the SMR Ratings.

On the technical side, there are several areas where we see consensus readings. All three stocks got bullish signals from their stochastic indicators on February 1. All three stocks have received bullish signals from the Bollinger Bands indicators within the last week, and all three have received bullish signals from the Aroon Indicator within the last few weeks.

All three companies will be reporting earnings in the next month or so and MGM and Caesars are both expected to post losses for the quarter. IGT is expected to report a small gain, but it is considerably lower than the company posted in Q4 2019. The EPS estimates for MGM and Caesars have been lowered over the last 90 days while IGT’s consensus estimate has remained constant.

Looking at the sentiment indicators for the three stocks, there were two that stood out. Analysts are extremely bearish toward MGM with only two “buy” ratings out of 19 total ratings. The other one was the short interest ratio on Caesars. The ratio is currently at 5.0 and that is higher than the average stock.

The complete analysis and comparison of the three stocks appears below.

Related Ticker: IGT

IGT sees MACD Histogram crosses below signal line

IGT saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on February 21, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 48 instances where the indicator turned negative. In of the 48 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .

Price Prediction Chart

Technical Analysis (Indicators)

Bearish Trend Analysis

IGT moved below its 50-day moving average on February 13, 2024 date and that indicates a change from an upward trend to a downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where IGT declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .

IGT broke above its upper Bollinger Band on January 23, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Bullish Trend Analysis

The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 2 days, which means it's wise to expect a price bounce in the near future.

The Momentum Indicator moved above the 0 level on February 23, 2024. You may want to consider a long position or call options on IGT as a result. In of 95 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where IGT advanced for three days, in of 312 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 233 cases where IGT Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Fundamental Analysis (Ratings)

Fear & Greed

The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.

The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (3.516) is normal, around the industry mean (11.771). P/E Ratio (52.160) is within average values for comparable stocks, (54.041). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (0.260). Dividend Yield (0.031) settles around the average of (0.078) among similar stocks. P/S Ratio (1.234) is also within normal values, averaging (3.501).

The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating well-balanced risk and returns. The average Profit vs. Risk Rating rating for the industry is 81, placing this stock slightly better than average.

The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. IGT’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.

The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.

Notable companies

The most notable companies in this group are Las Vegas Sands Corp (NYSE:LVS), MGM Resorts International (NYSE:MGM), Wynn Resorts Limited (NASDAQ:WYNN), Melco Resorts & Entertainment Limited (NASDAQ:MLCO).

Industry description

Casinos/Gaming includes companies that operate casinos, gaming services, horse racing and harness racing facilities. Think Las Vegas Sands Corp., MGM Resorts International and Wynn Resorts, Ltd. In periods of strong economic growth, consumers tend to spend on discretionary/leisure activities like gambling or games; but consumption is likely to slow down when there’s economic sluggishness.

Market Cap

The average market capitalization across the Casinos/Gaming Industry is 5.15B. The market cap for tickers in the group ranges from 152.98K to 41.26B. LVS holds the highest valuation in this group at 41.26B. The lowest valued company is ROBK at 152.98K.

High and low price notable news

The average weekly price growth across all stocks in the Casinos/Gaming Industry was 1%. For the same Industry, the average monthly price growth was 4%, and the average quarterly price growth was -6%. IRLTY experienced the highest price growth at 153%, while GMBLP experienced the biggest fall at -24%.

Volume

The average weekly volume growth across all stocks in the Casinos/Gaming Industry was -65%. For the same stocks of the Industry, the average monthly volume growth was -58% and the average quarterly volume growth was -39%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 51
P/E Growth Rating: 61
Price Growth Rating: 51
SMR Rating: 74
Profit Risk Rating: 80
Seasonality Score: -40 (-100 ... +100)
Related Portfolios: THE GAMING INDUSTRY
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IGTDaily Signal changed days agoGain/Loss if shorted
 
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A.I.Advisor
published price charts
A.I. Advisor
published General Information

General Information

a manufacturer of electronic gaming equipment, software and network systems

Industry CasinosGaming

Profile
Fundamentals
Details
Industry
Casinos Or Gaming
Address
10 Finsbury Square
Phone
+44 2038661240
Employees
10786
Web
https://www.igt.com
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IGT and

Correlation & Price change

A.I.dvisor indicates that over the last year, IGT has been loosely correlated with RRR. These tickers have moved in lockstep 59% of the time. This A.I.-generated data suggests there is some statistical probability that if IGT jumps, then RRR could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To IGT
1D Price
Change %
IGT100%
+1.24%
RRR - IGT
59%
Loosely correlated
+0.96%
LNW - IGT
58%
Loosely correlated
+2.97%
BYD - IGT
58%
Loosely correlated
+0.85%
GDEN - IGT
57%
Loosely correlated
+1.63%
CZR - IGT
57%
Loosely correlated
+0.46%
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