NEW YORK (TheStreet) -- Shares of Isle of Capri Casinos (ISLE) are higher by 4.54% to $7.83 in mid-morning trading on Wednesday, after the gaming company reported a narrowed net loss for the fiscal 2015 first quarter to -$2.3 million, or -6 cents per diluted share, from -$4.9 million, or -12 cents per diluted share for the fiscal 2014 first quarter.
The company's net revenue increased to $241.6 million versus $238 million for the year ago period.
Isle of Capri's fiscal 2015 first quarter adjusted net earnings were 2 cents per share, which matched the expectations of analysts polled by Thomson Reuters, compared to a net loss of -7 cents per share for the same quarter last year.
The company said its loss narrowed due to higher revenues and a reduction in tax provisions.
Separately, TheStreet Ratings team rates ISLE OF CAPRI CASINOS INC as a Sell with a ratings score of D+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ISLE OF CAPRI CASINOS INC (ISLE) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, generally disappointing historical performance in the stock itself and feeble growth in its earnings per share."
You can view the full analysis from the report here: ISLE Ratings Report