Everi (NYSE:EVRI) Lowered to Buy at ValuEngine

ValuEngine lowered shares of Everi (NYSE:EVRI) from a strong-buy rating to a buy rating in a research note released on Wednesday, ValuEngine reports.

EVRI has been the subject of a number of other reports. Raymond James set a $14.00 target price on shares of Everi and gave the company a buy rating in a report on Wednesday, August 7th. Zacks Investment Research raised shares of Everi from a hold rating to a buy rating and set a $11.00 target price for the company in a report on Thursday, August 8th. Macquarie assumed coverage on shares of Everi in a report on Thursday, September 26th. They issued an outperform rating and a $12.00 target price for the company. Finally, TheStreet cut shares of Everi from a c rating to a d+ rating in a report on Monday, August 26th. Six investment analysts have rated the stock with a buy rating, Everi currently has an average rating of Buy and a consensus target price of $12.20.

Everi stock traded up $0.22 during mid-day trading on Wednesday, reaching $8.48. The company had a trading volume of 522,911 shares, compared to its average volume of 701,080. Everi has a 1 year low of $4.76 and a 1 year high of $12.56. The company has a market capitalization of $596.80 million, a P/E ratio of 84.80, a P/E/G ratio of 1.34 and a beta of 1.60. The stock’s 50-day simple moving average is $8.87 and its 200-day simple moving average is $10.47.

Everi (NYSE:EVRI) last issued its earnings results on Tuesday, August 6th. The credit services provider reported $0.07 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.07. Everi had a net margin of 3.57% and a negative return on equity of 10.47%. The company had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $127.90 million. During the same period last year, the company posted $0.02 earnings per share. The firm’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Everi will post 0.31 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. Mackenzie Financial Corp increased its holdings in Everi by 12.6% in the second quarter. Mackenzie Financial Corp now owns 208,426 shares of the credit services provider’s stock valued at $2,487,000 after buying an additional 23,390 shares in the last quarter. ClariVest Asset Management LLC increased its stake in shares of Everi by 41.8% during the 2nd quarter. ClariVest Asset Management LLC now owns 199,600 shares of the credit services provider’s stock worth $2,381,000 after purchasing an additional 58,800 shares in the last quarter. Equitable Trust Co. increased its stake in shares of Everi by 3.4% during the 2nd quarter. Equitable Trust Co. now owns 155,725 shares of the credit services provider’s stock worth $1,858,000 after purchasing an additional 5,050 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of Everi by 3,013.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,424,485 shares of the credit services provider’s stock worth $16,994,000 after purchasing an additional 1,378,732 shares in the last quarter. Finally, Alberta Investment Management Corp increased its stake in shares of Everi by 70.8% during the 2nd quarter. Alberta Investment Management Corp now owns 75,000 shares of the credit services provider’s stock worth $895,000 after purchasing an additional 31,100 shares in the last quarter. 96.21% of the stock is owned by institutional investors.

Everi Company Profile

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 FinTech. 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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