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Los Angelas, CA -- (SBWIRE) -- 12/07/2012 -- Penn National Gaming (NASDAQ:PENN) came in as the fifth most popular casino stock loved by hedge funds with 22 filers. Penn is up almost 30% year to date following its announcement to split the company into two parts. The proposed REIT conversion sets Penn apart from major competitors and will be the first ever casino REIT. Penn does not currently pay a dividend, but following the split, the majority of Penn's properties will be placed in a REIT and operations will be managed by another publicly traded company. Deutsche Bank puts a sum-of-the-parts valuation on the gaming company at $65 - compared to its $50 current trading price. Penn's 23x trailing P/E compared to its forward P/E of 17x suggests that investors still might be overlooking the casino's future potential.
Will PENN Bounce Back From Here or Start Downtrend: FIND OUT HERE
Wynn Resorts (NASDAQ:WYNN) has 29 filers as owners to be the third most popular casino stock owned by hedge funds in 3Q. Revenues for 2011 were up 25%, with this casino resort operator also seeing solid growth from operations in China. Wynn trades in the midrange of the industry at 21x earnings, but showed positive trends of late with 3Q EPS coming in at $1.48 compared to $1.05 for 3Q 2011 and estimates of $1.26. Wynn is another casino stock that has showed commitments to returning capital to shareholders. Wynn recently announced plans to pay a special dividend of $7.50 and boosted its regular dividend yield over 100% to $1.00 per share. From a valuation standpoint, Wynn trades in line with its industry peers at 21x.
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Melco Crown Entertainment (NASDAQ:MPEL) came in as the top casino stock with 32 filers - after a net increase of 11 filers - the largest of our five stocks. Given the expected revenue drivers of the other four casino stocks, which are expected to see the majority of interim revenues driven by Macau properties, it is easy to see why Melco is number one. Melco operates primarily in the Macau region, where casinos are expected to outperform other areas such as Las Vegas given their greater exposure to rising discretionary income, which in turn, will spur higher visitation rates. Macanese gaming revenues were up over 40% in 2011 and should continue to accelerate in the future. This should help drive Melco's industry leading five-year expected EPS growth rate of 36% annually. Melco was one of Moore Capital and its billionaire founder Louis Bacon’s bullish bets during the third quarter.
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TiVo’s (NASDAQ:TIVO) upcoming litigation’s claims construction against Motorola/GOOG will face the five patents involved and heavily favors TIVO, which prevailed in 81 percent of the claims. These interpretations should make it much more difficult for Motorola to prevail in court as the prior precedent and the broader interpretations are harder to circumvent. Infringement on any one item poses a difficulty for Motorola. TiVo Inc. (NasdaqNM:TIVO) reported EPS of 0.149. For the Current Fiscal year, the company is expected to report EPS of -0.06. For the Next Quarter and Next Year, the company is expected to report EPS of -0.06 and -0.22 respectively. At Current Market Price, TIVO is in distance of +15.01% from its 50-day Moving Average price of $10.4167 and +28.47% from its 200-day Moving Average price of $9.3252.
How Should Investors Trade TIVO Now? Find Out Here
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