Everi Holdings is experiencing a decline in its stock value after receiving downgrades from both Jefferies and Truist Securities. Jefferies downgraded the stock from a Buy rating to Hold and adjusted its price target from $18 to $13. Truist Securities also followed suit by downgrading Everi Holdings from Buy to Hold and lowering its price target from $14 to $13. This news has caused a negative impact on the company’s shares as investors react to the revised ratings and price targets.
Everi Holdings Inc. (EVRI) Stock Price Drops 11.13% on March 2, 2024, But Sees After-Hours Uptick
On March 2, 2024, Everi Holdings Inc. (EVRI) experienced a significant drop in its stock price, closing at $10.54, which was a decrease of $1.32 or 11.13% from the previous trading day. Despite the drop in the regular trading session, EVRI saw a slight uptick in after-hours trading, with the stock rising $0.46. This could suggest that some investors see potential value in the stock at its current price level and are taking advantage of the lower prices to buy shares.
EVRI Stock Performance Analysis: Revenue Up, Net Income Down
On March 2, 2024, EVRI stock experienced mixed performances based on the financial data provided by CNN Money. The total revenue for the company was reported at $817.16 million for the past year, with a slight increase of 3.16% compared to the previous year. However, the total revenue remained flat at $194.37 million for the last quarter.
In terms of net income, EVRI reported a net income of $84.00 million for the past year, which represented a decrease of 30.29% compared to the previous year. The net income for the last quarter was reported at $1.89 million, showing a significant decrease of 92.9% compared to the previous quarter.
Similarly, the earnings per share (EPS) for EVRI stock was reported at $0.91 for the past year, reflecting a decrease of 26.1% compared to the previous year. The EPS for the last quarter remained flat at $0.02.
Overall, the financial performance of EVRI stock on March 2, 2024, showed mixed results. While the total revenue saw a slight increase compared to the previous year, the net income and EPS experienced significant decreases, especially in the last quarter. Investors and analysts may need to closely monitor these financial metrics to assess the company’s future growth prospects and stock performance.
