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November 16, 2009

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Stock ratings confirmed

Friday, May 21, 1999 | 11:58 a.m.

Bear Stearns & Co. reiterated its rating of Circus as "attractive," while BancBoston Robertson Stephens confirmed Circus as a "buy" and Schroder & Co. reiterated the casino operator's stock rating as "neutral."

Circus reported sharply higher revenue and operating earnings for the quarter, though pre-opening expenses related to Mandalay Bay and a casino project in Detroit resulted in a slight loss for the period.

BancBoston senior gaming analyst Harry Curtis said, "We believe momentum at Circus properties, particularly in Las Vegas, remains strong, and we are increasing our second-quarter cash flow estimate $8 million, to $137 million."

Curtis raised his second-quarter earnings estimate to 34 cents a share from 24 cents and his projection for fiscal 2000 full-year net to $1.33 a share from $1.27.

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