Check Out These Leisure Stocks In The Stock Market Today
Among the various corners of the stock market, leisure stocks would be on the minds of many investors. After all, as the economy reopens around the globe, leisure services would see rising demand again. So, it would not be a stretch to say that the leisure industry could become one of the hottest sectors over the next year. On that note, we are starting to see encouraging signs among some of the notable names in the leisure space.
For instance, the online travel shopping company, Expedia (NASDAQ: EXPE) soared after the company reported its earnings earlier this month. Strong reopening demand can be seen as its revenue nearly doubled compared to the prior year’s quarter. Also, its net income increased to $362 million, a strong turnaround from the loss of $221 in the same quarter last year.
Separately, TripAdvisor (NASDAQ: TRIP) is leaving no stone unturned to provide an enhanced traveling experience to travelers. It recently collaborated with Visit Orlando to create its first immersive audio experience in North America by leveraging Amazon’s (NASDAQ: AMZN) virtual assistant technology, Alexa. So, do you think leisure stocks could return to their glory days once the economy fully reopens? If so, here are four leisure stocks worth looking at in the stock market today.
Best Leisure Stocks To Watch Right Now
- ViacomCBS Inc (NASDAQ: VIAC)
- Comcast Corporation (NASDAQ: CMCSA)
- Norwegian Cruise Line Holdings Ltd (NYSE: NCLH)
- IMAX Corporation (NYSE: IMAX)
Let us start the list with the global media and entertainment company, ViacomCBS. Put simply, it is a company that creates content for audiences worldwide. Its business segments include TV Entertainment, Cable Networks, and Filmed Entertainment. People are likely familiar with its CBS branded streaming services such as Paramount+ and CBS Sports Network.
On Wednesday, the company announced that Paramount+ had its most successful week ever. The success is largely fueled by the premiere of the family-friendly film CLIFFORD THE BIG RED DOG. With additions of more than one million new subscribers and setting a new record for total signups, this is a significant milestone for the company.
Furthermore, ViacomCBS and Twitter (NYSE: TWTR) also entered a multi-year global agreement last week. The collaboration will aim to deliver premium digital content around the company’s biggest live events from its leading portfolio of entertainment, news, and sports brands. Paramount+ will also host three Twitter Watch Parties to bring fans together and build a community around the select highly anticipated original series. Given all these, it would not be surprising if investors are eyeing VIAC stock right now.
Following that, we will be looking at another company in the media technology space, Comcast. In detail, it operates three primary businesses, Comcast Cable, NBCUniversal, and Sky. While CMCSA stock may have been trading sideways over the past year, it does not lack exciting developments that could propel it higher.
For starters, the English Premier League has said on Thursday that it has agreed to a six-year U.S. broadcast rights agreement with NBC Sports. In hopes of bolstering its popularity in the United States, the deal will cover all 380 soccer matches every season. Also, it includes exclusive rights for Spanish language coverage. As the sport continues to gain traction, Comcast will be able to remain at the forefront of this growth.
In addition, Comcast’s third-quarter earnings report also exceeded analysts’ expectations. Its revenue grew to $30.3 billion compared to the expected $29.87 billion. Also, the company reported earnings of 87 cents per share versus analysts’ consensus of 75 cents. Overall, the company looks to be in a good position for long-term growth. With that said, do you think CMCSA stock will have more room to grow?
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Norwegian Cruise Line
Norwegian Cruise Line is a global cruise company that operates the Norwegian Cruise Line, Oceania Cruises, and Regent Seven Seas Cruises brands. The company has approximately 28 ships with nearly 60,000 Berths. Its brands offer itineraries to more than 490 destinations worldwide. What’s more, the company has scheduled nine additional ships for delivery through 2027, comprising approximately 24,000 berths.
Earlier this month, Norwegian Cruise Line reported its third-quarter financials and provided a business update. The company was able to increase its revenue to $153.1 million compared to a mere $6.5 million in the prior year’s quarter as cruise voyages resumed. Furthermore, its overall cumulative booked position for the full-year 2022 is already in line with 2019’s record levels at higher pricing. Including the long-term portion, its advance ticket sales were $1.7 billion.
Looking ahead, Norwegian Cruise Line expects approximately 75% of capacity to be operating by year-end 2021 with the full fleet back in operation by April 1, 2022. That said, NCLH stock has been taking a breather over the past month. Could this be an opportune time to add NCLH stock to your portfolio?
Last but not least, we have another top leisure company in IMAX. Essentially, it specializes in motion-picture technologies and large-format motion-picture presentations. It now has more than 1,500 IMAX theatres in more than 80 countries around the world. As a leader in immersive theatre experiences since 1968, it emphasizes a culture of innovation at the very core of the company.
In October, IMAX announced its third-quarter financials. It delivered over $142 million in Global Box Office, a clear sign of increasing consumer demand with momentum accelerating into a pre-pandemic September performance and all-time record in October. What’s more, the company reported $13.1 million in adjusted EBITDA, a solid improvement from a loss of $0.3 million a year ago. That demonstrated a significant turning point as theaters reopen around the world.
What’s more, for the first time, viewers can now stream some of their favorite Marvel titles in IMAX’s Expanded Aspect Ratio at home with IMAX Enhanced on Disney+. The launch on November 12 was part of Disney’s (NYSE: DIS) company-wide Disney+ Day global celebration. With these exciting developments, would you add IMAX stock to your watchlist?