Century Casinos (CNTY) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Century Casinos (NASDAQ:CNTY) from a hold rating to a sell rating in a 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. “

Several other research analysts have also recently weighed in on CNTY. BidaskClub cut Century Casinos from a buy rating to a hold rating in a research report on Friday, January 5th. Roth Capital started coverage on Century Casinos in a research report on Wednesday, September 20th. They issued a buy rating and a $11.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $10.58.

Shares of Century Casinos (NASDAQ:CNTY) opened at $9.50 on Tuesday. Century Casinos has a 1-year low of $6.28 and a 1-year high of $9.85. The stock has a market capitalization of $277.74, a price-to-earnings ratio of 16.67 and a beta of -0.20. The company has a current ratio of 1.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.33.

Century Casinos (NASDAQ:CNTY) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $41.05 million during the quarter, compared to the consensus estimate of $39.10 million. analysts forecast that Century Casinos will post 0.54 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Century Casinos by 2.7% in the second quarter. Vanguard Group Inc. now owns 861,545 shares of the company’s stock worth $6,349,000 after purchasing an additional 22,545 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Century Casinos by 69.1% in the second quarter. Goldman Sachs Group Inc. now owns 35,218 shares of the company’s stock worth $260,000 after purchasing an additional 14,397 shares during the last quarter. Foundry Partners LLC boosted its position in Century Casinos by 36.9% in the third quarter. Foundry Partners LLC now owns 309,380 shares of the company’s stock worth $2,540,000 after purchasing an additional 83,325 shares during the last quarter. Macquarie Group Ltd. purchased a new position in Century Casinos in the third quarter worth $275,000. Finally, Thrivent Financial For Lutherans purchased a new position in Century Casinos in the second quarter worth $288,000. 63.46% of the stock is currently owned by institutional investors and hedge funds.

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About Century Casinos

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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