Global Cash Access Holdings Coverage Initiated at Stifel Nicolaus (GCA)
Stifel Nicolaus assumed coverage on shares of Global Cash Access Holdings (NYSE:GCA) in a research note issued on Tuesday, TheFlyOnTheWall.com reports. The firm set a “hold” rating and a $8.50 price target on the stock. Stifel Nicolaus’ price target indicates a potential upside of 0.95% from the stock’s previous close.
The analysts wrote, “Although GCA is the clear industry leader in cash access solutions for the gaming industry, we see a mixed outlook. On one hand, we believe the company’s integrated products and innovative technology run circles around the competition and support its industry leading market share and premium pricing. However, price competition from outsourced solutions have led to tougher contract negotiations and stagnant domestic industry growth only serves to exacerbate the top line pressure. As such, we rate the shares Hold.”
A number of other firms have also recently commented on GCA. Analysts at Craig Hallum upgraded shares of Global Cash Access Holdings from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. They now have a $9.00 price target on the stock, up previously from $8.50. Separately, analysts at Sterne Agee cut their price target on shares of Global Cash Access Holdings from $12.00 to $10.50 in a research note on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $8.80.
Shares of Global Cash Access Holdings (NYSE:GCA) opened at 8.42 on Tuesday. Global Cash Access Holdings has a 1-year low of $5.71 and a 1-year high of $10.42. The stock has a 50-day moving average of $6.95 and a 200-day moving average of $8.37. The company has a market cap of $554.3 million and a P/E ratio of 22.16.
Global Cash Access Holdings (NYSE:GCA) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.01. The company had revenue of $150.60 million for the quarter, compared to the consensus estimate of $150.79 million. During the same quarter in the previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, analysts predict that Global Cash Access Holdings will post $0.89 earnings per share for the current fiscal year.
Global Cash Access Holdings, Inc (NYSE:GCA) is a holding company.
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