Everi (NYSE:EVRI) Announces Earnings Results, Misses Expectations By $0.12 EPS

Everi (NYSE:EVRI) posted 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 analysts’ expectations of $188.82 million. During the same period last year, the business earned $0.39 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis.

Everi Price Performance

EVRI stock traded down $0.16 during trading on Thursday, hitting $7.80. The company had a trading volume of 1,448,266 shares, compared to its average volume of 1,081,824. The company has a current ratio of 1.05, a quick ratio of 0.97 and a debt-to-equity ratio of 4.28. The company has a fifty day moving average price of $9.15 and a two-hundred day moving average price of $10.28. Everi has a fifty-two week low of $7.57 and a fifty-two week high of $17.85. The company has a market cap of $653.48 million, a P/E ratio of 8.73 and a beta of 2.09.

Analysts Set New Price Targets

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

Insider Buying and Selling at Everi

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

Everi Company Profile

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.