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PlayAGS (AGS) Surges 8.7%: Is This an Indication of Further Gains?
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PlayAGS (AGS - Free Report) shares rallied 8.7% in the last trading session to close at $8.99. 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 1.9% loss over the past four weeks.
Shares of PlayAGS moved up following the announcement of its preliminary fourth-quarter results alongside plans to investigate debt refinancing/repayment. The company anticipates Q4 revenues to be between $92.5 million and $94.5 million, with adjusted EBITDA projected in the range of $41-$43 million. EBITDA margins are expected to range from 44-46%. Also, PlayAGS is contemplating refinancing its term loan credit facility and voluntarily repaying approximately $15 million of its total outstanding debt, which is at around $549 million.
This gaming industry supplier is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -216.7%. Revenues are expected to be $89.03 million, up 8.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PlayAGS, 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 AGS going forward to see if this recent jump can turn into more strength down the road.
PlayAGS is a member of the Zacks Gaming industry. One other stock in the same industry, Century Casinos (CNTY - Free Report) , finished the last trading session 0.3% lower at $3.75. CNTY has returned -23% over the past month.
For Century Casinos, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. This represents a change of -71.4% from what the company reported a year ago. Century Casinos currently has a Zacks Rank of #3 (Hold).
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PlayAGS (AGS) Surges 8.7%: Is This an Indication of Further Gains?
PlayAGS (AGS - Free Report) shares rallied 8.7% in the last trading session to close at $8.99. 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 1.9% loss over the past four weeks.
Shares of PlayAGS moved up following the announcement of its preliminary fourth-quarter results alongside plans to investigate debt refinancing/repayment. The company anticipates Q4 revenues to be between $92.5 million and $94.5 million, with adjusted EBITDA projected in the range of $41-$43 million. EBITDA margins are expected to range from 44-46%. Also, PlayAGS is contemplating refinancing its term loan credit facility and voluntarily repaying approximately $15 million of its total outstanding debt, which is at around $549 million.
This gaming industry supplier is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of -216.7%. Revenues are expected to be $89.03 million, up 8.9% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For PlayAGS, 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 AGS 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 >>>>
PlayAGS is a member of the Zacks Gaming industry. One other stock in the same industry, Century Casinos (CNTY - Free Report) , finished the last trading session 0.3% lower at $3.75. CNTY has returned -23% over the past month.
For Century Casinos, the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.24. This represents a change of -71.4% from what the company reported a year ago. Century Casinos currently has a Zacks Rank of #3 (Hold).