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What's in Store for Century Casinos' (CNTY) Q1 Earnings?

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Zacks Equity Research
·4 min read
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Century Casinos, Inc. CNTY is scheduled to report first-quarter 2020 results on May 20. In the last-reported quarter, the company delivered a negative earnings surprise of 2,333.3%. 

How Are Estimates Placed?

The Zacks Consensus Estimate for first-quarter earnings is pegged at 5 cents, indicating 25% growth from 4 cents registered in the year-ago quarter. For revenues, the consensus mark stands at $92.1 million, suggesting growth of 101.9% from the prior-year quarter’s figure.

Let's take a look at how things have shaped up in the quarter.

Century Casinos, Inc. Price and EPS Surprise

Century Casinos, Inc. Price and EPS Surprise
Century Casinos, Inc. Price and EPS Surprise

Century Casinos, Inc. price-eps-surprise | Century Casinos, Inc. Quote

Factors at Play

Solid performance by the acquired properties like Mountaineer Casino Cape Girardeau and Caruthersville casinos is likely to have boosted the company’s first-quarter top line performance. Moreover, strategies like expansion, replacing old slot machines with new ones, reconfiguration of gaming floor layouts and focusing on cost-saving initiatives are likely to get reflected in first-quarter results. Also, increased focus on sports wagering license deals is likely to have aided the company in the to-be-reported quarter.

However, the coronavirus pandemic is expected to have materially affected Century Casinos’ performance in the first quarter. The shutdown of operations in the month of March to contain the spread of the virus is likely to have dented performance. Also, increased costs in sports betting and marketing initiatives along with softness in Poland markets are likely to have weighed on margins in the to-be-reported quarter. 

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for Century Casinos this time around. A stock needs to have a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) to beat estimates. That is not the case here.

Earnings ESP: Century Casinos has an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: The company has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

Peer Releases

Boyd Gaming Corporation BYD reported preliminary first-quarter 2020 results, wherein both the top and the bottom line missed the Zacks Consensus Estimate. Adjusted loss per share came in at 2 cents, comparing unfavorably with the Zacks Consensus Estimate of earnings of 23 cents. In the prior-year quarter, the company reported adjusted earnings of 43 cents per share. Quarterly revenues of $680.5 million missed the consensus mark by 12.1% and declined 47.7% year over year.

MGM Resorts International MGM reported first-quarter 2020 results, wherein earnings and revenues missed the Zacks Consensus Estimate. The company reported adjusted loss per share of 45 cents, wider than the Zacks Consensus Estimate of a loss of 8 cents. Quarterly revenues of $2,252.8 million lagged the consensus mark by 11.4% and declined 29% year over year.

Wynn Resorts, Limited WYNN reported first-quarter 2020 results, wherein earnings and revenues missed the Zacks Consensus Estimate for the third straight quarter. The company reported an adjusted loss of $3.54 per share, wider than the Zacks Consensus Estimate of a loss of $1.05. Further, quarterly revenues of $953.7 million lagged the consensus mark by 12.7% and declined 42.3% year over year.

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MGM Resorts International (MGM) : Free Stock Analysis Report
 
Wynn Resorts, Limited (WYNN) : Free Stock Analysis Report
 
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
 
Century Casinos, Inc. (CNTY) : Free Stock Analysis Report
 
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