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Century Casinos (CNTY) Soars 7.9%: Is Further Upside Left in the Stock?
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Century Casinos (CNTY - Free Report) shares rallied 7.9% in the last trading session to close at $7.79. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4% loss over the past four weeks.
Century Casinos’ rally is buoyed by optimism, courtesy of a rise in guest count, gaming-floor expansion and Missouri development projects. Also the emphasis on synergies from Nugget and Rocky Gap acquisitions bode well.
This casino operator is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -32.1%. Revenues are expected to be $139.53 million, up 25.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Century Casinos, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNTY going forward to see if this recent jump can turn into more strength down the road.
Century Casinos is part of the Zacks Gaming industry. Rush Street Interactive, Inc. (RSI - Free Report) , another stock in the same industry, closed the last trading session 2.3% higher at $3.06. RSI has returned -2% in the past month.
Rush Street Interactive, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. Compared to the company's year-ago EPS, this represents no change. Rush Street Interactive, Inc. currently boasts a Zacks Rank of #3 (Hold).
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Century Casinos (CNTY) Soars 7.9%: Is Further Upside Left in the Stock?
Century Casinos (CNTY - Free Report) shares rallied 7.9% in the last trading session to close at $7.79. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 4% loss over the past four weeks.
Century Casinos’ rally is buoyed by optimism, courtesy of a rise in guest count, gaming-floor expansion and Missouri development projects. Also the emphasis on synergies from Nugget and Rocky Gap acquisitions bode well.
This casino operator is expected to post quarterly earnings of $0.19 per share in its upcoming report, which represents a year-over-year change of -32.1%. Revenues are expected to be $139.53 million, up 25.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Century Casinos, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CNTY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Century Casinos is part of the Zacks Gaming industry. Rush Street Interactive, Inc. (RSI - Free Report) , another stock in the same industry, closed the last trading session 2.3% higher at $3.06. RSI has returned -2% in the past month.
Rush Street Interactive, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.13. Compared to the company's year-ago EPS, this represents no change. Rush Street Interactive, Inc. currently boasts a Zacks Rank of #3 (Hold).