Century Casinos (CNTY) Lowered to “Sell” at Zacks Investment Research

Century Casinos (NASDAQ:CNTY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

According to Zacks, “Century Casinos,Inc. & its subsidiaries,own & operate a limited-stakes gaming casino in Cripple Creek,Colorado & are pursuing a number of additional gaming opportunities internationally & in the U.S.The Company was formed to acquire ownership interests in,and to obtain management contracts with respect to,gaming establishments.The Company generally seeks to enter into gaming operations in areas with attractive demographic attributes,high population densities,local tourism and/or predictable traffic patterns,w/ the long-term objective of establishing geographic project diversification. “

A number of other research analysts have also recently commented on CNTY. Roth Capital initiated coverage on Century Casinos in a research report on Wednesday, September 20th. They issued a “buy” rating and a $11.00 price target on the stock. BidaskClub upgraded Century Casinos from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, December 20th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.77.

Shares of Century Casinos (NASDAQ CNTY) traded down $0.23 during midday trading on Tuesday, hitting $9.04. The company had a trading volume of 67,921 shares, compared to its average volume of 122,933. The company has a quick ratio of 1.73, a current ratio of 1.75 and a debt-to-equity ratio of 0.33. Century Casinos has a 52 week low of $6.28 and a 52 week high of $9.85. The company has a market capitalization of $224.66, a PE ratio of 15.32 and a beta of -0.20.

Century Casinos (NASDAQ:CNTY) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.21. Century Casinos had a return on equity of 9.75% and a net margin of 9.53%. The company had revenue of $41.05 million for the quarter, compared to analysts’ expectations of $39.10 million. research analysts anticipate that Century Casinos will post 0.36 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its position in Century Casinos by 21.1% in the second quarter. The Manufacturers Life Insurance Company now owns 23,207 shares of the company’s stock valued at $171,000 after acquiring an additional 4,044 shares during the last quarter. Hancock Holding Co. acquired a new stake in shares of Century Casinos during the second quarter valued at about $171,000. Rhumbline Advisers boosted its stake in shares of Century Casinos by 39.5% during the second quarter. Rhumbline Advisers now owns 23,414 shares of the company’s stock valued at $173,000 after purchasing an additional 6,625 shares in the last quarter. Numeric Investors LLC acquired a new stake in shares of Century Casinos during the second quarter valued at about $203,000. Finally, PDT Partners LLC acquired a new stake in shares of Century Casinos during the second quarter valued at about $206,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.

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Century Casinos Company Profile

Century Casinos, Inc is an international casino entertainment company. The Company develops and operates gaming establishments, as well as related lodging, restaurant and entertainment facilities around the world. Its segments include Canada, the United States, Poland, and Corporate and Other. The Canada segment consists of Century Casino & Hotel-Edmonton; Century Casino Calgary; Century Downs Racetrack and Casino, and Century Bets! Inc (Century Bets).

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