akun terjamin member menang berapapun pasti kami bayarfani jackpot di slot mahjong ways2 dan menikmati kemanangan di eropascatter hitam pecah dan memberikan cuan member di slot mahjong ways2slot olympus di jamin sensasional hanya di akun gacortidak ada yg mustahil menjadi sultan ketika kamu bermain mahjong wayssarapan di malaysia makan siang di singapura makan malam di mesir semua berkat mahjong wayssatu satunya situs kumpulan game slot online terpercaya hanya ada disinipacar sidik jadi sultan karena bermain mahjong ways sidik pun ikut mencoba mahjong waysmemenangkan permainan slot termudah memakai pola dan trik dari admindaftar dan deposit menggunakan akun kamu di jamin langsung dikasih withdraw disinislot no limit city merupakan provider slot yang memiliki maxwin yang paling besarkakek zeus bagi bagi uang gratis bruan daftar dan klaim hadiah kamuslot gacor mantapslot online jitupermainan slot onlineagen slot online terpercayacara curang akalin sistem slot olympus 1000 terbaru langsung jprekor baru kemenangan besar dari slot gates of olympusmudah untuk memenangkan slot gates of gatotkaca 1000 dari pragmatic playslot gates of olympus x1000 banjir petirborong pola gacor slot online mahjong ways2kunci sukses meraih jackpot di slot online olympus1000panduan eksklusif menemukan pola gacor slot online princess x1000rtp tinggi kemenangan pasti di slot online mahjong ways2legenda slot scatter hitam mahjong ways telah kembali jackpot besarjagoan baru slot olympus 1000 menang sensasionalcara baru menang dengan pola sakti slot starlight princess terbaikkeberuntungan mahjong ways dihalangi motor scoopy begini cara menangkalnyapunggung admin harith sungguh berat menampung beban maxwin slot starlight princesskalah adu retri admin slot all in ke slot gates of olympusdiculik partai besar pemain all in ke slot mahjong scatter hitamsekarang adalah zamannya slot online jadi sumber penghasilan para sultandemi kebahagiaan mama mba indah mempelajari pola mahjong waysturis bule yang ikut ikutan bang milen bermain mahjong waysbang yudi terkena sawan mantan pemain legendaris mahjong waystrik menang bermain slot mahjong ways dua langsung dari admin dalamkemenangan sejati para pemain slot itu bermain di situs initrik menang bermain slot sweet bonanza seribu hanya modal nekat di taruhan dua ribuanpositif menang untuk bermain slot gates of olympus malah di beri maxwin langsungmencari jati diri dalam bermain slot online pragmatic playresep rahasia win streak bermain mahjong ways 2cara menganalisa statis rtp di slot online agar menang terusmudah meraih jackpot progressiv dalam bermain slot online starlight princessslot pasti cuan besar main slot pragmatic play sweet bonanzacara jitu menjadi jutawan bermain mahjong waysslot online gampang menang princessrahasia sukses maxwin di gates of olympusakun gacor hanya di slot gacor pg softgacornya slot sweet bonanza xmas langsung buat kamu jadi ketagihanpastikan kondisi sinyal kamu bagus saat bermain slot gates of olympusmenang besar hari ini di slot wild bounty showdown dari provider pg softcobaan dalam bermain main slot online pragmatic play menang kalah sudah biasacara cepat jackpot super maxwin dalam bermain slot gacortrik mudah menang bermain slot gates of gatotkacakembalinya legenda pola gacor slot mahjong ways2petualangan arkeolog mencari scatter hitam mahjong ways2update akun pragmatic play gacor hari inirekomendasi baru dari provider pragmatic play game slot mahjong win auto banjir kemenanganslot mahjong wins gampang menang jackpot 50 juta dengan bocoran asli admin satoruslot online super jackpot 1slot online super jackpot 2slot online super jackpot 3slot online super jackpot 4slot online super jackpot 5slot online super jackpot 6slot online super jackpot 7slot online super jackpot 8slot online super jackpot 9slot online super jackpot 10slot online super jackpot 11slot online super jackpot 12bang galam buka lapak spesialis pola gacor mahjong waysketenangan hati yang didapat berkat bermain mahjong wayskeunikan permainan slot online mahjong ways yang menjanjikan kemenanganfani sakit karena kaget dirinya maxwin slot dewi mahjongpola kemenangan hakiki pada scatter hitam slot mahjong waysarmadabet situs terbaik untuk gacha slot gates of olympus hari inibandar slot resmi starlight princess x1000akun pilihan admin menjamin kemenangan pertamamu di permainan slot pragmatic playjackpot jutaan rupiah dengan pola viral ini mahjong wayscara mendapatkan kemenangan maksimal dalam bermain slot online sweet bonanzasang ahli slot online memberikan bocoran untuk kemenangan mudah bermain slot gates of olympus 1000keganasan petir perkalian merah gates of olympus menghujani layar slotmenikmati kemenangan di slot gates of olympus setelah melakukan withdraw dengan hasil maxwinbanjir pola di akun slot online server thailandkesempurnaan pola di slot olympus memberikan hoki pada pemainmember sebelah main di akun kami karna wd kami pasti di bayarpemain hoki pecahkan petir x500 slot olympustrik anti boncos pola slot online princessupdate rtp slot mahjong wasy2 untuk kemenangan memberjangan ragu menambah deposit di situs mahjong ways kalau ingin menang banyakpemuda 19 tahun raup pendapatan puluhan juta dari mahjong waysanalis hyde o bryan memprediksi turunnya x500 pada slot pragmatic olympusadmin tante esme membocorkan jam gacor mahjong scatter hitam karena tergoda kumis agusledakan maxwin slot sweet bonanza banjir jakcpot besar PlayAGS Cheap Stock With Debt Reduction Kicker - Casino Lucky

PlayAGS Cheap Stock With Debt Reduction Kicker

Must read

[ad_1]

Posted on: March 10, 2023, 03:03h. 

Last updated on: March 10, 2023, 03:24h.

On a dismal day for the broader market and gaming equities, gaming device manufacturer PlayAGS (NYSE:AGS) cobbled together some upside following a solid fourth-quarter earnings report.

PlayAGS
A scene from a PlayAGS gaming machine, above. Analysts say the stock is cheap. (Image: Overlooked Alpha)

Those results are in the past, and while the slot machine maker didn’t offer up specific earnings guidance for the current quarter, the Las Vegas-based company said it is attempting to drive leverage down to a range of 3.25x to 3.75x. Analysts applauded the effort.

(That) implies earnings before interest, taxes, depreciation and amortization (EBITDA) guidance of ~$130 million-150 million; however, management noted at current levels, they would achieve midpoint or better, implying $140 million-plus,” wrote Macquarie analyst Chad Beynon in a note to clients today.

He reiterated an “outperform” rating and an $11 price target on PlayAGS stock, implying upside of 65.1% from the March 9 close. The fourth quarter of 2022 marked the ninth consecutive three-month period in which the company topped analysts’ EBITDA estimates.

PlayAGS Has Makings of Value Play

Assuming PlayAGS does generate 2023 EBITDA in the $140 million, that could imply the stock is deeply discounted at current levels because $140 million is more than half the company’s current market capitalization of $233.36 million.

Based on Beynon’s 2023 EBTIDA estimate of $144 million, PlayAGS trades at an enterprise value/EBITDA multiple of just 5.5x with a free cash flow yield of 14%. As the analyst notes, there are potential 2023 drivers with which PlayAGS can close the valuation gap with peers while possibly accruing share price appreciation.

“With ~70% of the business model recurring and domestic installed units in a solid place, AGS is well positioned to build the business in ’23 from higher unit sales (we’re projecting high singles), continued premium installed placements, higher table revenue from the PaxS and growth in interactive (new game content/deals). Bottom line, while we’re still forecasting mid[1]singles revenue/EBITDA growth, current trends (record Jan) and 2H catalysts could prove this to be conservative,” added Beynon.

PlayAGS Can Compress Valuation Gap

The Macquarie analyst isn’t alone in his thinking on PlayAGS. Stife’s Jeffrey Stantial observed that if the company properly executes this year, prior research and development and related offers could pay off for investors.

Despite already impressive growth in premium installs over the past two years, we see significant runway still left (peers average >40% mix) with the timing of R&D investments suggesting momentum should continue through 2023. Management also highlighted product momentum in non-premium leased content, buffered by the successful launch of Spectra and initial high-denom content,” wrote Stantial.

He reiterated a “buy” rating on PlayAGS with a $10 price target. The average price forecast on the name is $11.13.

Entering Friday, the stock was up 29.80% year-to-date, making it one of the best-performing gaming equities of any stripe.

[ad_2]

Source link

More articles

- Advertisement -spot_img

Latest article