Market News

Century Casinos Gains 4% On 4Q Profit Win

Shares of Century Casinos were up 4.1% in Friday’s extended trading session after closing 9.4% higher on better-than-expected 4Q earnings.

Century Casinos (CNTY) reported 4Q earnings of $0.22 per share compared to a loss of $0.68 per share in the year-ago period. Analysts were anticipating a loss of $0.02 per share in 4Q. Revenues grew 26% year-over-year to $84.8 million but missed consensus estimates of $87.3 million.

The gaming company’s adjusted EBITDA increased 87% to $18.3 million in 4Q, driven by the strong performance of its properties in the U.S. (See Century Casinos stock analysis on TipRanks)

The company’s co-CEOs Erwin Haitzmann and Peter Hoetzinger said, “We have been able to achieve operating margins that we believe will continue to be attainable.” They added, “We look forward to our casinos and racetracks reopening in Canada and to a busy summer season in North America if the pandemic subsides.” 

Following the results, Stifel Nicolaus analyst Steven Wieczynski said that the continued momentum in its U.S. assets, strategic acquisitions, and the expected sale of its Poland gaming properties could act as strong growth catalysts.

Wieczynski maintained a Buy rating and raised the stock’s price target to $12 (18.8% upside potential) from $9. Shares have gained around 136% over the past year.

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