PlayAGS (AGS) Stock Moves -0.38%: What You Should Know
In the latest trading session, PlayAGS (AGS) closed at $5.23, marking a -0.38% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.7%. Elsewhere, the Dow lost 0.8%, while the tech-heavy Nasdaq lost 1.82%.
Prior to today's trading, shares of the gaming industry supplier had lost 27.79% over the past month. This has lagged the Consumer Discretionary sector's loss of 0.38% and the S&P 500's gain of 0.39% in that time.
PlayAGS will be looking to display strength as it nears its next earnings release, which is expected to be May 9, 2023. On that day, PlayAGS is projected to report earnings of -$0.08 per share, which would represent year-over-year growth of 27.27%. Meanwhile, our latest consensus estimate is calling for revenue of $77.5 million, up 6.37% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.01 per share and revenue of $326.79 million. These totals would mark changes of 0% and +5.61%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for PlayAGS. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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 has moved 25% higher within the past month. PlayAGS is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that PlayAGS has a Forward P/E ratio of 630 right now. For comparison, its industry has an average Forward P/E of 24.29, which means PlayAGS is trading at a premium to the group.
The Gaming industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 99, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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
