Genting outlook boosts bets against gaming firm
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
ANALYSTS are the least optimistic about Genting Singapore plc in a year as slumping casino revenue from high-rollers curbs earnings prospects for the second-worst performing stock on the city's benchmark gauge.
The difference between Genting's share price and analysts' predictions for where it will be in 12 months narrowed on Wednesday to the least since December 2013, according to data compiled by Bloomberg. Twelve-month average price targets dropped to S$1.24 from S$1.55 a year ago, compared with a closing price of S$1.155 on Wednesday. While more than half of analysts still have buy ratings, at least nine of the 21 covering the stock cut forecasts after the casino operator this month reported a 50 per cent plunge in quarterly profit.
Share with us your feedback on BT's products and services
TRENDING NOW
‘We’ve seen the worst-case scenario’: How Indonesia’s Cinema XXI navigated crisis and change
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
S-E Asia tourism takes hit from Middle East crisis, but intra-regional travel could spell hope
Auditors flag uncertainty on Katrina Group’s ability to continue as a going concern
