The 10-second takeaway
For the quarter ended March 31 (Q1), Ameristar Casinos missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue dropped. Non-GAAP earnings per share dropped significantly. GAAP earnings per share contracted significantly.
Margins shrank across the board.
Ameristar Casinos logged revenue of $295.1 million. The 11 analysts polled by S&P Capital IQ foresaw a top line of $301.3 million on the same basis. GAAP reported sales were 5.5% lower than the prior-year quarter's $312.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.56. The 11 earnings estimates compiled by S&P Capital IQ forecast $0.60 per share. Non-GAAP EPS of $0.56 for Q1 were 25% lower than the prior-year quarter's $0.75 per share. GAAP EPS of $0.51 for Q1 were 58% lower than the prior-year quarter's $1.21 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 49.2%, 90 basis points worse than the prior-year quarter. Operating margin was 19.7%, 240 basis points worse than the prior-year quarter. Net margin was 6.1%, 720 basis points worse than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $296.7 million. On the bottom line, the average EPS estimate is $0.53.
Next year's average estimate for revenue is $1.19 billion. The average EPS estimate is $2.03.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 189 members out of 238 rating the stock outperform, and 49 members rating it underperform. Among 81 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 72 give Ameristar Casinos a green thumbs-up, and nine give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Ameristar Casinos is hold, with an average price target of $25.17.
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