Everi Holdings Analysts Slash Their Forecasts After Q4 Results

Avi Kapoor

March 01, 2024

Everi Holdings Inc. (NYSE:EVRI) reported downbeat sales results for its fourth quarter on Thursday.

Everi Hldgs posted adjusted earnings of 30 cents per share, beating market estimates of 20 cents per share. The company’s quarterly sales came in at $192.00 million, missing expectations of $198.46 million, according to data from Benzinga Pro.

Randy Taylor, Chief Executive Officer of Everi, said, "This morning we announced the strategic combination of Everi with IGT's Gaming and Digital businesses. We are excited about the opportunity to bring together the two companies to create a world class leader in gaming solutions for our customers…After several years of rapid growth, 2023 was a transitional year in our gaming business as we executed on our roadmap which included the introduction of four new cabinets and new content. Our FinTech business continues to perform well, adding new products and services to our suite of financial access, RegTech and loyalty solutions."

Everi Hldgs shares gained 5.1% to close at $11.86 on Thursday.

These analysts made changes to their price targets on Everi Holdings after the company reported quarterly results.

Jefferies cut the price target on Everi Holdings from $18 to $13. Jefferies analyst David Katz downgraded the stock from Buy to Hold.
Truist Securities slashed the price target on Everi Holdings from $14 to $13. Truist Securities analyst Barry Jonas downgraded the stock from Buy to Hold.

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