Everi (NYSE:EVRI) Reaches New 12-Month Low on Analyst Downgrade

Everi Holdings Inc. (NYSE:EVRI) hit a new 52-week low during mid-day trading on Wednesday after Truist Financial lowered their price target on the stock from $13.00 to $11.00. Truist Financial currently has a hold rating on the stock. Everi traded as low as $8.41 and last traded at $8.44, with a volume of 215119 shares traded. The stock had previously closed at $8.70.

Several other analysts have also weighed in on the stock. B. Riley assumed coverage on shares of Everi in a report on Friday, April 5th. They set a “neutral” rating and a $12.00 price objective for the company. Jefferies Financial Group reiterated a “hold” rating and set a $13.00 price objective (down from $18.00) on shares of Everi in a report on Friday, March 1st. Finally, StockNews.com cut 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 and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.20.

Institutional Investors Weigh In On Everi

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Everi by 1.1% during the third quarter. Vanguard Group Inc. now owns 5,860,007 shares of the credit services provider’s stock valued at $77,469,000 after acquiring an additional 64,529 shares during the period. American Century Companies Inc. raised its holdings in Everi by 36.4% in the third quarter. American Century Companies Inc. now owns 2,896,663 shares of the credit services provider’s stock worth $38,294,000 after purchasing an additional 772,860 shares during the period. Private Capital Management LLC increased its stake in Everi by 38.6% in the 4th quarter. Private Capital Management LLC now owns 2,329,241 shares of the credit services provider’s stock valued at $26,251,000 after buying an additional 648,696 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Everi by 2.7% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,156,636 shares of the credit services provider’s stock worth $28,511,000 after buying an additional 57,275 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Everi by 67.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after buying an additional 745,022 shares in the last quarter. Institutional investors and hedge funds own 95.47% of the company’s stock.

Everi Stock Down 1.7 %

The stock has a market capitalization of $716.32 million, a P/E ratio of 9.67 and a beta of 2.05. The stock’s fifty day simple moving average is $9.82 and its two-hundred day simple moving average is $10.59. The company has a debt-to-equity ratio of 4.28, a quick ratio of 0.97 and a current ratio of 1.05.

Everi (NYSE:EVRI) last posted its quarterly earnings results on Thursday, February 29th. The credit services provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.19). The business had revenue of $192.00 million for the quarter, compared to analysts’ expectations of $200.99 million. Everi had a return on equity of 42.93% and a net margin of 10.40%. The company’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.28 earnings per share. As a group, research analysts expect that Everi Holdings Inc. will post 0.97 EPS for the current fiscal year.

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.