The lights are dimming in Las Vegas and Macau. As a result, casino operators across the world — from the more U.S.-focused operators like Caesars (NASDAQ:CZR) and MGM Resorts (NYSE:MGM) to those with a greater international presence like Las Vegas Sands (NYSE:LVS), Melco (NASDAQ:MLCO), and Wynn (NASDAQ:WYNN) — are searching for a winning formula in other markets.
And despite the allure of new opportunities like sports betting and the development of Japan’s integrated resorts, there’s a good chance gaming company performance will decline going forward.
Image source: Getty Images.
Business is slowing all over
Caesars’ revised outlook for its Las Vegas resorts caused its stock to lose a quarter of its value when the company forecast slowing demand in July and August. MGM also missed analysts’ expectations for the quarter and said it was cutting its hotel room rates to attract more guests. MGM owns close to half the casinos on the Las Vegas Strip.
Best Casino Stocks To Own Right Now: Synchronoss Technologies Inc.(SNCR)
- [By Max Byerly]
Synchronoss Technologies, Inc. (NASDAQ:SNCR) Director William J. Cadogan bought 96,152 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of $5.87 per share, with a total value of $564,412.24. The purchase was disclosed in a document filed with the SEC, which is available through this link.
- [By Dan Caplinger]
It’s been a hard road for Synchronoss Technologies (NASDAQ:SNCR). For more than a year, the company worked through restating financials dating back well into the past, and the company found itself having to list its shares on the bulletin boards after the Nasdaq suspended trading in the stock. Nevertheless, through all of its trials and tribulations, Synchronoss has remained steadfast in its determination to emerge from its difficulties stronger than ever. Announcing financial results was a key step toward getting things back to normal.
- [By Dan Caplinger]
The stock market had a generally solid performance on Monday, with large-cap indexes posting modest gains even as benchmarks that track the changes of smaller stocks underperformed. The big news of the day came on the trade front, where the White House intervened to reverse previous policy with respect to Chinese smartphone giant ZTE in an apparent effort to gain favor with the world’s most populous nation and second-largest economic power. Investors looked for potential winners from the thawing of relations with China, but not all stocks were able to avoid significant losses. Viacom (NASDAQ:VIAB), Synchronoss Technologies (NASDAQ:SNCR), and DHX Media (NASDAQ:DHXM) were among the worst performers on the day. Here’s why they did so poorly.
- [By Max Byerly]
Synchronoss Technologies, Inc. (NASDAQ:SNCR) has received an average recommendation of “Hold” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $10.80.
- [By Timothy Green]
Shares of Synchronoss Technologies (NASDAQ:SNCR) jumped on Friday following the company’s second-quarter report. Synchronoss’ quarter was mixed relative to analyst expectations, but a positive outlook for the second half and the appointment of a new CFO was enough to get the stock moving. Synchronoss shares were up 21.5% at market close.
Best Casino Stocks To Own Right Now: Semtech Corporation(SMTC)
- [By Logan Wallace]
Semtech Co. (NASDAQ:SMTC) VP Marc Pegulu sold 500 shares of the firm’s stock in a transaction on Friday, July 6th. The shares were sold at an average price of $48.85, for a total value of $24,425.00. Following the completion of the sale, the vice president now owns 15,453 shares in the company, valued at $754,879.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
- [By Daniel Sparks]
Shares of semiconductor company Semtech (NASDAQ:SMTC) shot higher on Thursday, rising as much as 16.2%. By the time the market closed, shares were up 13.9%.
- [By Motley Fool Transcription]
Semtech Corporation (NASDAQ:SMTC)Q2 2019 Earnings Conference CallAug. 29, 2018, 5:00 p.m. ET
Prepared Remarks Questions and Answers Call Participants
- [By Stephan Byrd]
Semtech (NASDAQ:SMTC)‘s stock had its “overweight” rating reaffirmed by equities researchers at Piper Jaffray Companies in a report released on Monday, The Fly reports. They presently have a $57.00 price target on the semiconductor company’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 12.98% from the stock’s current price.
Best Casino Stocks To Own Right Now: Euro FX(P)
- [By Michael A. Robinson]
While I do most of my music streaming with rival Pandora Media Inc. (Nasdaq: P), I do also use Spotify, especially when I’m traveling outside the United States, where Pandora has zero presence.
- [By Joseph Griffin]
ValuEngine upgraded shares of Pandora Media (NYSE:P) from a hold rating to a buy rating in a report published on Tuesday.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research raised Pandora Media from a hold rating to a buy rating and set a $9.25 target price on the stock in a research report on Saturday, August 4th. Wedbush set a $10.00 target price on Pandora Media and gave the stock a buy rating in a research report on Wednesday, August 1st. Canaccord Genuity set a $10.00 target price on Pandora Media and gave the stock a buy rating in a research report on Wednesday, August 1st. Susquehanna Bancshares lifted their target price on Pandora Media from $7.00 to $8.00 and gave the stock a neutral rating in a research report on Wednesday, August 1st. Finally, BMO Capital Markets lifted their target price on Pandora Media from $12.00 to $13.00 and gave the stock an outperform rating in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $7.85.
- [By Chris Lange]
Pandora Media Inc. (NYSE: P) is set to release its most recent quarterly results Wednesday. The consensus forecast is for a net loss of $0.08 per share and $375.82 million in revenue. Shares ended the week at $5.16 apiece. The consensus price target is $7.85, and the 52-week range is $4.09 to $13.72.
- [By Rick Munarriz]
The closing of Sirius XM’s deal for Pandora Media (NYSE:P) — sending arbs off to close out their positions — is probably the biggest reason for the reversal. However, short interest is now even lower than where it was before Sirius XM announced its plan to buy the streaming radio pioneer. Having Pandora now under Sirius XM’s wing is a reason — but not the reason — for more than 100 million net shares covered through the first two weeks of February.
- [By Rick Munarriz]
The gains keep coming for Pandora (NYSE:P) investors in 2018. Shares of the digital music pioneer have been on fire lately, hitting new 52-week highs on Thursday and nearly doubling so far this year. A bullish analyst update earlier this week is keeping one of the market’s most unlikely rallies going strong.
- [By Anders Bylund]
Shares of Pandora Media (NYSE:P) gained 28.7% in May of 2018, according to data from S&P Global Market Intelligence. First-quarter results reported in the first week of the month turned out to crush both the company’s own guidance and analyst estimates, triggering a 21% share-price jump the next day.