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

Everi Holdings Inc. (NYSE:EVRI) shares hit a new 52-week low 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 changing hands. The stock had previously closed at $8.70.

EVRI has been the topic of a number of other reports. B. Riley assumed coverage on shares of Everi in a report on Friday, April 5th. They issued a “neutral” rating and a $12.00 price objective on the stock. StockNews.com downgraded shares of Everi from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $13.00 price objective (down from $18.00) on shares of Everi in a report on Friday, March 1st. Four investment analysts have rated the stock with a hold rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.20.

Hedge Funds Weigh In On Everi

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Everi by 1.1% during the third quarter. Vanguard Group Inc. now owns 5,860,007 shares of the credit services provider’s stock worth $77,469,000 after buying an additional 64,529 shares during the last quarter. American Century Companies Inc. increased its holdings in Everi by 36.4% during 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 buying an additional 772,860 shares during the last quarter. Private Capital Management LLC increased its holdings in Everi by 38.6% during the fourth quarter. Private Capital Management LLC now owns 2,329,241 shares of the credit services provider’s stock worth $26,251,000 after buying an additional 648,696 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Everi by 2.7% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,156,636 shares of the credit services provider’s stock valued at $28,511,000 after purchasing an additional 57,275 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Everi by 67.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,849,241 shares of the credit services provider’s stock valued at $20,841,000 after purchasing an additional 745,022 shares during the last quarter. 95.47% of the stock is currently owned by institutional investors and hedge funds.

Everi Stock Performance

The stock has a market capitalization of $699.14 million, a price-to-earnings ratio of 9.27 and a beta of 2.05. The company’s fifty day simple moving average is $9.73 and its 200 day simple moving average is $10.55. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 4.28.

Everi (NYSE:EVRI) last released its quarterly earnings data 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). Everi had a net margin of 10.40% and a return on equity of 42.93%. The company had revenue of $192.00 million during the quarter, compared to analyst estimates of $200.99 million. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Everi’s revenue for the quarter was down 6.5% on a year-over-year basis. On average, equities research analysts expect that Everi Holdings Inc. will post 0.97 earnings per share for the current year.

About Everi

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.