Everi (NYSE:EVRI) Announces Quarterly Earnings Results

Everi (NYSE:EVRI) announced its quarterly earnings results on Wednesday. The credit services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.12), Briefing.com reports. Everi had a return on equity of 42.93% and a net margin of 10.40%. The firm had revenue of $189.30 million for the quarter, compared to the consensus estimate of $188.82 million. During the same period in the prior year, the business earned $0.39 earnings per share. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year.

Everi Price Performance

Shares of NYSE:EVRI traded down $0.16 during midday trading on Thursday, hitting $7.80. The stock had a trading volume of 1,447,847 shares, compared to its average volume of 1,081,819. The company’s 50-day moving average price is $9.15 and its 200-day moving average price is $10.28. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 4.28. Everi has a fifty-two week low of $7.57 and a fifty-two week high of $17.85. The company has a market capitalization of $653.48 million, a P/E ratio of 8.73 and a beta of 2.09.

Insider Buying and Selling

In other Everi news, CAO Todd A. Valli sold 15,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $8.05, for a total value of $120,750.00. Following the completion of the transaction, the chief accounting officer now directly owns 49,440 shares in the company, valued at $397,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Geoffrey P. Judge sold 30,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $8.17, for a total transaction of $245,100.00. Following the completion of the transaction, the director now directly owns 91,572 shares of the company’s stock, valued at approximately $748,143.24. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd A. Valli sold 15,000 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $8.05, for a total value of $120,750.00. Following the completion of the sale, the chief accounting officer now owns 49,440 shares in the company, valued at approximately $397,992. The disclosure for this sale can be found here. Insiders sold a total of 90,000 shares of company stock worth $729,000 in the last ninety days. 6.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have issued reports on EVRI shares. StockNews.com downgraded Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Stifel Nicolaus dropped their target price on shares of Everi from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group reissued a “hold” rating and set a $13.00 price objective (down previously from $18.00) on shares of Everi in a research report on Friday, March 1st. B. Riley began coverage on Everi in a research report on Friday, April 5th. They set a “neutral” rating and a $12.00 price target for the company. Finally, Truist Financial lowered their price objective on shares of Everi from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.60.

About Everi

Everi Holdings Inc develops and supplies entertaining game content, gaming machines, and gaming systems and services for land-based and iGaming operators in the United States, Canada, and internationally. It operates in Games and Financial Technology Solutions segments. The company offers classic mechanical reel games and video reel games, as well as TournEvent of Champions, a national slot tournament; and sells gaming equipment and player terminals, licenses, game content, and ancillary equipment, such as signage and lighting packages.