The 10-second takeaway
For the quarter ended June 30 (Q2), Ameristar Casinos met expectations on revenues and 0 on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. Non-GAAP earnings per share increased significantly. GAAP earnings per share grew.
Margins increased across the board.
Ameristar Casinos reported revenue of $291.3 million. The seven analysts polled by S&P Capital IQ expected sales of $292.1 million on the same basis. GAAP reported sales were the same as the prior-year quarter's.
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 $0.60. The 10 earnings estimates compiled by S&P Capital IQ predicted $0.50 per share. Non-GAAP EPS of $0.60 for Q2 were 18% higher than the prior-year quarter's $0.51 per share. GAAP EPS of $0.57 for Q2 were 12% higher than the prior-year quarter's $0.51 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 50.1%, 60 basis points better than the prior-year quarter. Operating margin was 21.0%, 90 basis points better than the prior-year quarter. Net margin was 6.9%, 100 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $298.6 million. On the bottom line, the average EPS estimate is $0.50.
Next year's average estimate for revenue is $1.18 billion. The average EPS estimate is $1.99.
The stock has a one-star rating (out of five) at Motley Fool CAPS, with 188 members out of 237 rating the stock outperform, and 49 members rating it underperform. Among 84 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 76 give Ameristar Casinos a green thumbs-up, and eight 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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