Casino gaming technology company Everi (NYSE:EVRI) is expected to be announcing earnings results tomorrow before market open. Here’s what to expect.
Everi met analysts’ revenue expectations last quarter, reporting revenues of $189.3 million, down 5.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ adjusted operating income estimates.
Is Everi a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Everi’s revenue to decline 8.4% year on year to $191.8 million, a reversal from the 5.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Everi has missed Wall Street’s revenue estimates twice over the last two years.
With Everi being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for consumer discretionary stocks. However, there has been positive investor sentiment in the segment, with share prices up 3.4% on average over the last month. Everi’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $14.19 (compared to the current share price of $13.60).
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