Scotiabank Sticks to Its Hold Rating for Great Canadian Gaming

Wall Street analyst has provided a rating update for the Services sector company yesterday, while remaining neutral on the stock. Great Canadian Gaming (TSX: GC) received a Hold rating from Scotiabank’s analyst George Doumet, with a C$35 price target.

Doumet has an average return of 33.8% when recommending Great Canadian Gaming.

According to TipRanks.com, Doumet is ranked #619 out of 4628 analysts.

Great Canadian Gaming has an analyst consensus of Moderate Buy, with a price target consensus of C$36.67.

Based on Great Canadian Gaming’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of C$143 million and quarterly net profit of C$17.8 million. In comparison, last year the company earned revenue of C$140 million and had a net profit of C$22.8 million.

Great Canadian Gaming Corp. is a multi-jurisdictional gaming and entertainment and hospitality operator. The company through its subsidiaries operates casinos, a thoroughbred racetrack that offers slot machines, standardbred racetracks, community gaming centers, bingo hall, resort with hotels, conference centre and marina, show theatres, various associated food, beverage and entertainment facilities. Great Canadian Gaming was founded by Ross John McLeod in 1982 and is headquartered in Richmond, Canada.

The company’s shares closed on Friday at C$32.30, close to its 52-week high of C$33.22.

Leave a Reply

Your email address will not be published. Required fields are marked *