5 Entertainment Stocks to Watch Ahead of This Week’s Earnings: Video Games and Casinos

1 month ago 18

Earnings play is successful afloat plaything and this week features galore well-known companies reporting quarterly fiscal reports.

Every week, Benzinga takes a look astatine immoderate circumstantial sectors that person a ample fig of companies that study earnings. This week’s assemblage is entertainment stocks with 3 video crippled companies and 2 casinos each sharing details of their astir caller quarters.

Activision Blizzard: Video Game institution Activision Blizzard reports third-quarter net connected Tuesday aft marketplace close. The institution has been heavy successful the spotlight successful caller months with the departure and firing of respective cardinal executives, an SEC probe and allegations of mediocre moving conditions.

CEO Bobby Kotick unveiled caller concern practices precocious to assistance with worker relations. The institution besides announced it was pausing its yearly BlizzCon event. With the pausing of the event, determination is simply a accidental investors get updates connected Blizzard games via quarterly earnings.

Activision Blizzard has bushed gross estimates from analysts successful each of the past 10 quarters, according to Benzinga Pro data. Estimates telephone for the institution to study $1.88 cardinal successful third-quarter revenue, down from the $1.92 cardinal and $2.07 cardinal reported successful the astir caller 2nd and archetypal quarters, respectively.

ATVI shares commercialized astatine $79.87, towards the bottommost extremity of their 52-week scope of 71.19 to $104.53.

Electronic Arts: Video crippled institution Electronic Arts Inc reports second-quarter net Wednesday aft marketplace close. The institution bushed gross estimates successful each of the past six quarters.

The existent second-quarter gross estimation from analysts is $1.75 billion, which would beryllium EA’s second-largest 4th since 2018. The institution posted gross of $1.34 cardinal successful the archetypal 4th and had gross of $1.15 cardinal successful past year’s 2nd quarter.

Among the items for investors to ticker successful EA’s net study is an update connected the FIFA franchise. The institution could suffer its woody arsenic FIFA is seeking much wealth for the yearly shot franchise.

EA shares commercialized astatine $142.39, adjacent the apical extremity of the 52-week scope of $110.15 to $150.30.

Video Game Controller Photo from Benzinga

Take-Two: Video crippled institution Take-Two Interactive Software reports second-quarter fiscal results Wednesday aft marketplace close.

Estimates telephone for the institution to study $865.5 cardinal successful gross for the 2nd quarter. The institution has bushed analysts’ estimates for six consecutive quarters. First 4th gross of $711.4 cardinal was the company’s lowest quarterly full since the archetypal 4th of 2019.

The cardinal point to ticker could beryllium however overmuch it beats gross by, assuming it does beat. After 5 consecutive quarters of beating gross estimates by astatine slightest 9 percent, the company’s archetypal 4th full was lone 3 percent up of estimates.

Investors and video crippled fans volition beryllium hoping to perceive immoderate updates connected the Grand Theft Auto franchise and imaginable hints of a timeline for the highly anticipated “Grand Theft Auto VI.”

TTWO shares commercialized astatine $183.91, adjacent the mid-point of a 52-week scope of $144.58 to $214.91.

MGM Resorts: Casino institution MGM Resorts International reports 3rd 4th net connected Wednesday aft marketplace close. The net could item however beardown the reopening commercialized is fairing successful presumption of customers returning to casinos and successful idiosyncratic events and conferences.

Estimates telephone for MGM to study third-quarter gross of $2.48 billion. The institution bushed estimates successful the archetypal and 2nd quarters aft a drawstring of gross misses. The company’s gross figures were $1.65 cardinal and $2.27 cardinal successful the archetypal and 2nd 4th respectively, showing analysts expect the betterment to continue.

The institution could besides supply an update connected its BetMGM sports betting associated venture.

MGM shares commercialized astatine $47.86, adjacent the apical of the 52-week scope of $19.55 to $49.13.

Penn National: Casino institution Penn National Gaming Inc reports third-quarter net Thursday earlier the marketplace open.

Estimates telephone for third-quarter gross of $1.51 billion. The institution bushed estimates successful the archetypal and 2nd 4th with gross totals of $1.28 cardinal and $1.55 billion, respectively.

Penn National could springiness a bully work connected however determination casinos are fairing and however beardown reopening trades are successful definite parts of the country. The institution could besides supply an update connected however the Barstool Sportsbook marque is doing with plans to proceed enlargement to much states.

PENN shares commercialized astatine $73.62, towards the bottommost extremity of a ample 52-week scope of $52.09 to $142.00.

By Chris Katje

© 2021 The Epoch Times. The Epoch Times does not supply concern advice. All rights reserved.

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