Everi Holdings Analysts Slash Their Forecasts After Q4 Results
Portfolio Pulse from Avi Kapoor
Everi Holdings Inc. (NYSE:EVRI) reported Q4 sales of $192.00 million, missing expectations of $198.46 million, but posted adjusted earnings of 30 cents per share, beating estimates of 20 cents. The company announced a strategic combination with IGT's Gaming and Digital businesses. Shares gained 5.1% to close at $11.86. Analysts from Jefferies and Truist Securities adjusted their price targets and downgraded the stock following the results.
March 01, 2024 | 12:59 pm
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Everi Holdings reported lower-than-expected Q4 sales but exceeded EPS estimates. Announced merger with IGT's Gaming & Digital. Shares rose 5.1%. Analysts adjusted price targets and downgraded the stock.
The mixed Q4 results with a sales miss but an EPS beat, combined with the strategic merger announcement, have led to a short-term positive reaction in the stock price. However, the downgrades and target adjustments by analysts could temper investor enthusiasm, leading to a neutral short-term impact.
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