Accel Entertainment, Inc. (NYSE:ACEL) Expected to Post Earnings of $0.24 Per Share

Wall Street brokerages forecast that Accel Entertainment, Inc. (NYSE:ACELGet Rating) will announce earnings per share (EPS) of $0.24 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Accel Entertainment’s earnings, with the lowest EPS estimate coming in at $0.22 and the highest estimate coming in at $0.25. Accel Entertainment reported earnings of $0.27 per share during the same quarter last year, which would suggest a negative year-over-year growth rate of 11.1%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Accel Entertainment will report full-year earnings of $0.97 per share for the current fiscal year, with EPS estimates ranging from $0.92 to $1.04. For the next fiscal year, analysts anticipate that the business will post earnings of $1.25 per share, with EPS estimates ranging from $1.12 to $1.37. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Accel Entertainment.

Accel Entertainment (NYSE:ACELGet Rating) last issued its earnings results on Wednesday, March 9th. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.01). Accel Entertainment had a net margin of 5.84% and a return on equity of 48.62%. The firm had revenue of $192.31 million during the quarter, compared to analyst estimates of $192.96 million.

A number of research analysts have commented on ACEL shares. The Goldman Sachs Group reduced their price objective on Accel Entertainment from $15.50 to $13.50 and set a “neutral” rating on the stock in a research note on Thursday, May 19th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Accel Entertainment from $17.00 to $15.00 in a report on Monday, May 9th. Zacks Investment Research lowered shares of Accel Entertainment from a “buy” rating to a “hold” rating in a report on Monday, March 14th. Finally, TheStreet downgraded Accel Entertainment from a “b-” rating to a “c” rating in a research note on Monday, May 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Accel Entertainment has an average rating of “Buy” and a consensus target price of $15.90.

Shares of ACEL traded up $0.31 during midday trading on Thursday, reaching $11.02. 218,249 shares of the company were exchanged, compared to its average volume of 232,933. The stock has a 50-day moving average price of $11.61 and a 200-day moving average price of $12.45. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 22.96 and a beta of 1.06. Accel Entertainment has a 1-year low of $9.85 and a 1-year high of $14.10. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 1.94.

In other Accel Entertainment news, Director David W. Ruttenberg sold 11,880 shares of the business’s stock in a transaction on Tuesday, March 15th. The shares were sold at an average price of $13.00, for a total transaction of $154,440.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian M. Carroll sold 20,000 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $12.62, for a total transaction of $252,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,280 shares of company stock valued at $1,987,054. 18.77% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley lifted its stake in Accel Entertainment by 8,995.5% in the second quarter. Morgan Stanley now owns 64,123 shares of the company’s stock valued at $761,000 after buying an additional 63,418 shares during the last quarter. Royal Bank of Canada lifted its position in Accel Entertainment by 109.7% in the 2nd quarter. Royal Bank of Canada now owns 6,556 shares of the company’s stock valued at $78,000 after purchasing an additional 3,430 shares during the last quarter. Millennium Management LLC boosted its stake in Accel Entertainment by 70.6% during the 2nd quarter. Millennium Management LLC now owns 32,126 shares of the company’s stock valued at $381,000 after purchasing an additional 13,291 shares during the period. Invesco Ltd. grew its position in Accel Entertainment by 68.3% in the 2nd quarter. Invesco Ltd. now owns 20,415 shares of the company’s stock worth $242,000 after purchasing an additional 8,286 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Accel Entertainment in the third quarter valued at approximately $143,000. 48.32% of the stock is currently owned by hedge funds and other institutional investors.

Accel Entertainment Company Profile (Get Rating)

Accel Entertainment, Inc, together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.

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