Accel Entertainment, Inc. to Post Q1 2024 Earnings of $0.23 Per Share, Northland Capmk Forecasts (NYSE:ACEL)

Accel Entertainment, Inc. (NYSE:ACEL) – Analysts at Northland Capmk lifted their Q1 2024 EPS estimates for shares of Accel Entertainment in a report issued on Tuesday, April 16th. Northland Capmk analyst G. Gibas now anticipates that the company will post earnings of $0.23 per share for the quarter, up from their previous forecast of $0.19. The consensus estimate for Accel Entertainment’s current full-year earnings is $0.75 per share. Northland Capmk also issued estimates for Accel Entertainment’s FY2024 earnings at $0.92 EPS.

Accel Entertainment (NYSE:ACEL) last posted its earnings results on Wednesday, February 28th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Accel Entertainment had a net margin of 3.90% and a return on equity of 39.62%. The firm had revenue of $297.07 million during the quarter, compared to analysts’ expectations of $286.32 million.

Accel Entertainment Stock Performance

NYSE:ACEL opened at $11.26 on Wednesday. The company has a debt-to-equity ratio of 2.59, a quick ratio of 2.78 and a current ratio of 2.85. The company has a fifty day moving average of $11.19 and a two-hundred day moving average of $10.58. The stock has a market capitalization of $943.17 million, a PE ratio of 21.24 and a beta of 1.40. Accel Entertainment has a fifty-two week low of $8.28 and a fifty-two week high of $12.05.

Institutional Investors Weigh In On Accel Entertainment

A number of hedge funds have recently modified their holdings of the business. Quarry LP raised its position in shares of Accel Entertainment by 54.3% in the fourth quarter. Quarry LP now owns 2,823 shares of the company’s stock valued at $29,000 after buying an additional 993 shares during the last quarter. Rhumbline Advisers raised its position in shares of Accel Entertainment by 1.8% in the first quarter. Rhumbline Advisers now owns 74,270 shares of the company’s stock valued at $677,000 after buying an additional 1,299 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of Accel Entertainment by 8.1% in the second quarter. Hsbc Holdings PLC now owns 17,568 shares of the company’s stock valued at $186,000 after buying an additional 1,314 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Accel Entertainment by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 407,345 shares of the company’s stock valued at $3,711,000 after buying an additional 1,398 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Accel Entertainment by 0.3% in the first quarter. Sei Investments Co. now owns 516,656 shares of the company’s stock valued at $4,707,000 after buying an additional 1,448 shares during the last quarter. 55.39% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Accel Entertainment news, insider Derek Harmer sold 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $11.21, for a total transaction of $112,100.00. Following the completion of the transaction, the insider now directly owns 187,553 shares in the company, valued at $2,102,469.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Accel Entertainment news, insider Derek Harmer sold 10,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $11.21, for a total transaction of $112,100.00. Following the completion of the transaction, the insider now directly owns 187,553 shares in the company, valued at $2,102,469.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karl Mr. Peterson sold 30,000 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $11.00, for a total transaction of $330,000.00. Following the transaction, the director now owns 2,505,645 shares of the company’s stock, valued at $27,562,095. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,999 shares of company stock worth $1,520,439. Company insiders own 19.17% of the company’s stock.

About Accel Entertainment

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.