Boyer said TRWH is being hindered by initial trial play at Encore Boston Harbor and elevated promotional activity, which should \u201cgradually taper off, consistent with what we have seen with other new openings.\u201d<\/strong><\/p>\nPlenty of Firepower<\/h2>\n
The analyst estimates TRWH has about $171 million left it can use for buybacks and dividends.<\/p>\n
\u201cWe believe management not only honored its commitment to return capital, but also sent a clear message to investors as to how it views the shares\u2019 current valuation,\u201d said Boyer. \u201cWe positively view the buyback activity and expect it to push shares higher.\u201d<\/p>\n
Twin River’s buyback sparked more bullishness from Boyer. The Stifel analyst reiterated a \u201cbuy\u201d rating on the stock, while boosting his price target on the name to $30, implying upside of about 36 percent from Friday’s close.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"Amid increasing competition in New England, shares of Twin River Worldwide Holdings, Inc. (NYSE:TRWH) have shed nearly a third of their value since early July. But management has used that decline to buy back stock. Based on the company’s recently announced quarterly dividend payment of 10 cents a share, which cost the operator of Rhode […]<\/p>\n","protected":false},"author":46,"featured_media":116496,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Twin River is Using a Share Price Slide to Buy Back Stock<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n