Everi (EVRI) Trading 11.5% Higher Following Earnings Beat
Shares of Everi Holdings Inc (NYSE:EVRI) traded up 11.5% during trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $9.25 and last traded at $8.89. 5,115,428 shares changed hands during mid-day trading, an increase of 538% from the average session volume of 801,378 shares. The stock had previously closed at $7.97.
The credit services provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. Everi had a negative return on equity of 6.14% and a net margin of 2.63%. The business had revenue of $119.50 million during the quarter, compared to analysts’ expectations of $113.37 million.
A number of equities analysts have commented on the company. SunTrust Banks assumed coverage on Everi in a report on Monday, February 11th. They set a “buy” rating and a $9.00 target price for the company. Raymond James assumed coverage on Everi in a report on Friday, November 30th. They set a “strong-buy” rating and a $11.00 target price for the company. ValuEngine raised Everi from a “hold” rating to a “buy” rating in a report on Friday, January 11th. Finally, Zacks Investment Research raised Everi from a “hold” rating to a “buy” rating and set a $6.25 price target for the company in a report on Tuesday, January 8th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Everi currently has a consensus rating of “Buy” and an average price target of $9.35.
The firm has a market cap of $559.44 million, a P/E ratio of 93.40, a P/E/G ratio of 1.99 and a beta of 1.83.
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Everi Company Profile (NYSE:EVRI)
Everi Holdings Inc provides technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company operates in two segments, Games and Payments. It offers gaming products, such as classic mechanical reel games, video reel games, core HDX, Empire MPX and the Texan HDX, wide area progressive games, and slot tournament systems; and sells player terminals, licenses, back office systems, and other related equipment.
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