Stars Group Slashes FY19 Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter, Stars Group, Inc. (TSG, TSGI.TO) on Monday slashed its adjusted earnings and revenue guidance for the full year 2019.

For fiscal 2019, the company now projects adjusted earnings in a range of $1.68 to $1.83 per share on revenues between $2.50 billion and $2.575 billion.

Previously, the company expected adjusted earnings in the range of $1.87 to $2.11 per share on revenues between $2.64 billion and $2.765 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.28 per share on revenues of $1.31 billion for the year. Analysts' estimates typically exclude special items.

Additionally, the Stars Group continues to expect to achieve the medium-term financial and leverage target ranges set out in late March, but now over the three to five year period from the currently slashed 2019 outlook range. Over the next three to five year period, the company had projected annual adjusted earnings per share growth of at least 10 percent and annual constant currency revenue growth of 8 to 12 percent from the previous guidance range.