Brokers Set Expectations for PlayAGS Inc’s FY2023 Earnings (NYSE:AGS)

PlayAGS Inc (NYSE:AGS) – B. Riley increased their FY2023 earnings per share (EPS) estimates for PlayAGS in a note issued to investors on Monday, July 19th. B. Riley analyst D. Bain now forecasts that the company will post earnings per share of $0.73 for the year, up from their previous forecast of $0.72. B. Riley has a “Buy” rating and a $21.00 price objective on the stock.

A number of other brokerages have also recently commented on AGS. Truist Securities raised PlayAGS from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Friday, May 7th. Truist upgraded PlayAGS from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Friday, May 7th. Credit Suisse Group raised their price objective on PlayAGS from $13.00 to $15.00 and gave the company an “outperform” rating in a research report on Tuesday, May 11th. Zacks Investment Research lowered PlayAGS from a “buy” rating to a “hold” rating in a research report on Wednesday, July 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on PlayAGS from $10.00 to $12.00 and gave the stock a “hold” rating in a research report on Friday, May 7th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.80.

Shares of NYSE:AGS opened at $7.87 on Tuesday. The company has a debt-to-equity ratio of 13.06, a current ratio of 3.85 and a quick ratio of 3.22. The company has a market cap of $288.28 million, a price-to-earnings ratio of -3.56 and a beta of 3.53. The stock has a 50 day moving average price of $9.56. PlayAGS has a 52-week low of $2.50 and a 52-week high of $11.32.

PlayAGS (NYSE:AGS) last released its quarterly earnings data on Thursday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.21. PlayAGS had a negative return on equity of 129.55% and a negative net margin of 46.85%. The company had revenue of $55.36 million for the quarter, compared to analyst estimates of $49.97 million.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of PlayAGS by 2.6% during the first quarter. BlackRock Inc. now owns 2,163,542 shares of the company’s stock valued at $17,480,000 after buying an additional 54,102 shares during the last quarter. Emerald Mutual Fund Advisers Trust purchased a new stake in shares of PlayAGS during the first quarter valued at $5,148,000. Geode Capital Management LLC grew its holdings in shares of PlayAGS by 18.8% during the first quarter. Geode Capital Management LLC now owns 526,673 shares of the company’s stock valued at $4,255,000 after buying an additional 83,174 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of PlayAGS by 13.3% during the fourth quarter. Nuveen Asset Management LLC now owns 316,519 shares of the company’s stock valued at $2,279,000 after buying an additional 37,271 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of PlayAGS by 18.5% during the first quarter. Dimensional Fund Advisors LP now owns 266,681 shares of the company’s stock valued at $2,155,000 after buying an additional 41,712 shares during the last quarter. 82.43% of the stock is currently owned by hedge funds and other institutional investors.

PlayAGS Company Profile

AGS is a global company focused on creating a diverse mix of entertaining gaming experiences for every kind of player. Their roots are firmly planted in the Class II Native American gaming market, but their customer-centric culture and growth have helped them branch out to become a leading all-inclusive commercial gaming supplier.

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