PlayAGS (AGS) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, PlayAGS (AGS) closed at $5.60, marking a +1.27% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.45%. At the same time, the Dow added 0.8%, and the tech-heavy Nasdaq gained 1.99%.
Prior to today's trading, shares of the gaming industry supplier had gained 3.56% over the past month. This has lagged the Consumer Discretionary sector's gain of 5.88% and the S&P 500's gain of 4.25% in that time.
PlayAGS will be looking to display strength as it nears its next earnings release. On that day, PlayAGS is projected to report earnings of -$0.01 per share, which would represent a year-over-year decline of 125%. Our most recent consensus estimate is calling for quarterly revenue of $83.93 million, up 9.59% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.01 per share and revenue of $334.87 million, which would represent changes of 0% and +8.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for PlayAGS. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. PlayAGS is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, PlayAGS is currently trading at a Forward P/E ratio of 1106. This represents a premium compared to its industry's average Forward P/E of 22.44.
The Gaming industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 73, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow AGS in the coming trading sessions, be sure to utilize Zacks.com.
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PlayAGS, Inc. (AGS) : Free Stock Analysis Report
