Iao Kun Group Holding Downgraded by Zacks (IKGH)
Iao Kun Group Holding (NASDAQ:IKGH) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday. They currently have a $2.90 price objective on the stock. Zacks‘s target price would suggest a potential downside of 3.65% from the stock’s previous close.
Separately, analysts at Stifel Nicolaus cut their price target on shares of Iao Kun Group Holding from $5.00 to $4.00 in a research note on Friday, August 29th. They now have a “buy” rating on the stock.
Shares of Iao Kun Group Holding (NASDAQ:IKGH) remained flat at $3.01 during during mid-day trading trading on Wednesday. 12,228 shares of the company’s stock traded hands. Iao Kun Group Holding has a 1-year low of $2.57 and a 1-year high of $4.18. The stock has a 50-day moving average of $3.14 and a 200-day moving average of $3.13. The company’s market cap is $174.3 million.
Iao Kun Group Holding (NASDAQ:IKGH) last posted its quarterly earnings results on Thursday, August 28th. The company reported ($0.12) earnings per share for the quarter, missing the analysts’ consensus estimate of $0.01 by $0.13. The company had revenue of $49.69 million for the quarter, compared to the consensus estimate of $60.60 million. During the same quarter last year, the company posted $0.15 earnings per share. Iao Kun Group Holding’s revenue was down 21.7% compared to the same quarter last year. Analysts expect that Iao Kun Group Holding will post $0.25 EPS for the current fiscal year.
Iao Kun Group Holding Co Ltd, formerly Asia Entertainment & Resources Ltd. is a holding company that conducts its primary business operations through its wholly owned subsidiary, Asia Gaming & Resort Limited (NASDAQ:IKGH), and its subsidiaries.
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