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Century Casinos (CNTY) Surges 8.5%: Is This an Indication of Further Gains?
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Century Casinos (CNTY - Free Report) shares rallied 8.5% in the last trading session to close at $5.37. 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 13.6% loss over the past four weeks.
Century Casinos scored a strong price increase, driven by investor’s optimism surrounding the company’s strong conventional hotel business, strategic acquisitions and new additions of slot machines. Also strength in group room nights and ADR bode well.
This casino operator is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $158.75 million, up 41.1% 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 a member of the Zacks Gaming industry. One other stock in the same industry, DraftKings (DKNG - Free Report) , finished the last trading session 1.5% higher at $30.25. DKNG has returned -4.6% over the past month.
For DraftKings, the consensus EPS estimate for the upcoming report has changed -3.2% over the past month to -$0.69. This represents a change of +31% from what the company reported a year ago. DraftKings currently has a Zacks Rank of #3 (Hold).
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Century Casinos (CNTY) Surges 8.5%: Is This an Indication of Further Gains?
Century Casinos (CNTY - Free Report) shares rallied 8.5% in the last trading session to close at $5.37. 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 13.6% loss over the past four weeks.
Century Casinos scored a strong price increase, driven by investor’s optimism surrounding the company’s strong conventional hotel business, strategic acquisitions and new additions of slot machines. Also strength in group room nights and ADR bode well.
This casino operator is expected to post quarterly earnings of $0.12 per share in its upcoming report, which represents a year-over-year change of +33.3%. Revenues are expected to be $158.75 million, up 41.1% 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 a member of the Zacks Gaming industry. One other stock in the same industry, DraftKings (DKNG - Free Report) , finished the last trading session 1.5% higher at $30.25. DKNG has returned -4.6% over the past month.
For DraftKings, the consensus EPS estimate for the upcoming report has changed -3.2% over the past month to -$0.69. This represents a change of +31% from what the company reported a year ago. DraftKings currently has a Zacks Rank of #3 (Hold).