On May 8, 2023, the world of finance was buzzing with news about Accel Entertainment (NYSE:ACEL). This distributed gaming operator had just released its quarterly earnings report, which showed remarkable growth for the company. Investors and analysts alike were ecstatic over the outstanding $0.23 earnings per share for the quarter, surpassing market projections by $0.01.
What’s even more impressive is that despite operating in non-casino establishments like restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores as their revenue model suggests; the company earned a staggering $278.07 million during this period which was higher than the consensus estimate of $276.77 million.
Accel Entertainment’s net margin increased to 6.33%, and they had an incredible return on equity of 45.56%. These numbers paint a promising picture of how well the company operates in its niche market.
Accel Entertainment provides an essential service to communities where traditional casinos cannot exist due to legal or regulatory restrictions. By installing and maintaining gaming terminals and other amusement devices in designated outlets across these regions where such facilities can’t operate traditionally; Accel Entertainment has found a way to fill that gap through authorized non-casino locations.
Their business is spearheaded by maintaining customer satisfaction while abiding by all local laws and regulations governing non-casino gambling activities’ operation within these establishments.
With Accel Entertainment’s continued focus on innovation and collaboration with vendors who provide quality games on their platform; they are poised to expand their footprint even further both nationally and internationally.
It’s certainly worth keeping an eye out for what Accel Entertainment has planned next as it seems likely they’ll keep striving forward with this impressive growth track record intact – which could mean great things for investors moving forward!
Accel Entertainment Sees Increase in FY2023 EPS Estimates by Northland Capmk Analyst
Accel Entertainment, Inc., a distributed gaming operator, has seen an increase in FY2023 EPS estimates by Northland Capmk, according to a research note released on May 4th. G. Gibas, the Northland Capmk analyst, now expects the company to earn $0.72 per share for the year, up from their prior estimate of $0.71. The consensus estimate for Accel Entertainment’s current full-year earnings is $0.81 per share. The company’s shares opened at $9.25 on Monday and currently have a 1-year low of $7.26 and a high of $12.18.
Accel Entertainment operates in installation, maintenance and operation of gaming terminals and redemption devices that offer ATM functionality in authorized non-casino locations such as bars and convenience stores. Several institutional investors recently increased or decreased their stakes in ACEL with Darlington Partners Capital Management LP adding 62,956 shares bringing its stake to 7,430,908 worth $58,035,000 while American Century Companies Inc added an additional 32,271 shares bringing their total number to 4,731197 worth $36,430000.
The company boasts a market cap of $801.70 million as well as having a PE ratio of 12:33 which indicates both a healthy position within their industry and good potential for growth moving forward.
Additionally, several insiders such as Derek Harmer – who sold 7,768 shares worth over $69k – have sold significant amounts of the company’s stock within past months.
Despite this upheaval and change within the company’s stakeholding and stakeholder meetings there remains much interest from outside entities due to AceI’s innovative work in the gaming industry alongside industry-specific stability.
Overall it seems that AceI stands in good stead moving forward however stakeholders must remain vigilant given recent changes so they can adjust strategy accordingly if necessary.
