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Century Casinos (CNTY) Surges 5.8%: Is This an Indication of Further Gains?

Zacks Equity Research
·2-min read

Century Casinos (CNTY) shares soared 5.8% in the last trading session to close at $13.45. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 13.9% gain over the past four weeks.

Reopening of United Sates, Canada and Poland properties have been instilling investor confidence.

This casino operator is expected to post quarterly earnings of $0.10 per share in its upcoming report, which represents a year-over-year change of +300%. Revenues are expected to be $100.1 million, up 38.2% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Century Casinos, the consensus EPS estimate for the quarter has been revised 61.3% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on CNTY going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Century Casinos is part of the Zacks Gaming industry. NeoGames S.A. (NGMS), another stock in the same industry, closed the last trading session 0.8% higher at $14.17. NGMS has returned -40.5% in the past month.

NeoGames S.A.'s consensus EPS estimate for the upcoming report has changed -32.4% over the past month to $0.12. Compared to the company's year-ago EPS, this represents a change of -20%. NeoGames S.A. currently boasts a Zacks Rank of #4 (Sell).


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Century Casinos, Inc. (CNTY) : Free Stock Analysis Report
 
NeoGames S.A. (NGMS) : Free Stock Analysis Report
 
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Zacks Investment Research