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Casino Hotel Operator Reclaims Support Line.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: Craig Shaw
Ameristar Casinos has traded between 31 and 35 the past 12 weeks after marking an all-time high near 38 on April 8. Strong up days Friday through Tuesday launched the stock back above its 50-day support line and within 10% of that peak.
The Las Vegas-based casino operator grew earnings from 2% to 84% the past three quarters after four quarters of declines. Three-year annual growth rates are a robust 41% for profit and 23% for sales. Earnings are seen growing 26% this fiscal year, but only 8% in 2005.
The Leisure-Gaming/Equipment group ranks No. 16 of IBD's 197 industries for an A+ ...
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