Everi (NYSE:EVRI) Downgraded by ValuEngine to Hold

Everi (NYSE:EVRI) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Monday, ValuEngine reports.

Other analysts have also issued research reports about the company. Raymond James set a $14.00 price objective on Everi and gave the stock a “buy” rating in a report on Wednesday, August 7th. Macquarie began coverage on Everi in a report on Thursday, September 26th. They set an “outperform” rating and a $12.00 price objective on the stock. TheStreet lowered Everi from a “c” rating to a “d+” rating in a report on Monday, August 26th. Finally, Zacks Investment Research lowered Everi from a “buy” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $11.95.

EVRI traded up $0.35 during midday trading on Monday, reaching $9.29. The company’s stock had a trading volume of 771,400 shares, compared to its average volume of 843,314. The stock has a market cap of $650.99 million, a P/E ratio of 92.90, a PEG ratio of 1.55 and a beta of 1.60. The company has a fifty day simple moving average of $8.77 and a 200 day simple moving average of $10.36. Everi has a twelve month low of $4.76 and a twelve month high of $12.56.

Everi (NYSE:EVRI) last announced its quarterly earnings data on Tuesday, August 6th. The credit services provider reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Everi had a negative return on equity of 10.47% and a net margin of 3.57%. The company had revenue of $129.70 million for the quarter, compared to analyst estimates of $127.90 million. During the same quarter last year, the firm earned $0.02 EPS. Everi’s revenue for the quarter was up 9.3% compared to the same quarter last year. As a group, sell-side analysts expect that Everi will post 0.29 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. NEXT Financial Group Inc boosted its stake in Everi by 1,850.5% in the 2nd quarter. NEXT Financial Group Inc now owns 6,066 shares of the credit services provider’s stock valued at $73,000 after buying an additional 5,755 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Everi by 347.4% in the 2nd quarter. Acadian Asset Management LLC now owns 368,892 shares of the credit services provider’s stock valued at $4,401,000 after buying an additional 286,435 shares in the last quarter. Equitable Trust Co. boosted its stake in Everi by 3.4% in the 2nd quarter. Equitable Trust Co. now owns 155,725 shares of the credit services provider’s stock valued at $1,858,000 after buying an additional 5,050 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in Everi by 38.2% in the 2nd quarter. Canada Pension Plan Investment Board now owns 495,100 shares of the credit services provider’s stock valued at $5,907,000 after buying an additional 136,900 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Everi by 27.1% in the 2nd quarter. Wells Fargo & Company MN now owns 278,503 shares of the credit services provider’s stock valued at $3,323,000 after buying an additional 59,352 shares in the last quarter. 96.21% of the stock is currently owned by institutional investors and hedge funds.

About Everi

Everi Holdings Inc provides technology solutions for the casino gaming industry in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company operates in two segments, Games and FinTech. It offers gaming products, such as classic mechanical reel games, video reel games, core HDX, Empire MPX and the Texan HDX, wide area progressive games, and slot tournament systems; and sells player terminals, licenses, back office systems, and other related equipment.

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