Wall Street brokerages forecast that Scientific Games Corp (NASDAQ:SGMS) will announce earnings of ($0.13) per share for the current quarter, Zacks reports. Five analysts have provided estimates for Scientific Games’ earnings. The lowest EPS estimate is ($0.24) and the highest is ($0.05). Scientific Games posted earnings per share of ($0.60) during the same quarter last year, which would suggest a positive year-over-year growth rate of 78.3%. The firm is scheduled to report its next quarterly earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Scientific Games will report full-year earnings of ($2.16) per share for the current fiscal year, with EPS estimates ranging from ($2.56) to ($1.71). For the next year, analysts forecast that the company will report earnings of $0.66 per share, with EPS estimates ranging from $0.15 to $1.27. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Scientific Games.
Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings data on Thursday, August 2nd. The technology company reported ($0.06) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.06). The company had revenue of $844.70 million for the quarter, compared to the consensus estimate of $853.64 million. During the same quarter last year, the business earned ($0.44) earnings per share. Scientific Games’s revenue was up 10.2% compared to the same quarter last year.
SGMS has been the subject of a number of analyst reports. Jefferies Financial Group lowered their price objective on Scientific Games from $61.00 to $46.00 and set a “buy” rating for the company in a research report on Tuesday, August 7th. BidaskClub downgraded Scientific Games from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 8th. Zacks Investment Research upgraded Scientific Games from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Monday, July 16th. ValuEngine downgraded Scientific Games from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 3rd. Finally, TheStreet downgraded Scientific Games from a “c-” rating to a “d+” rating in a research report on Friday, August 3rd. Three research analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $51.29.
Shares of SGMS traded up $1.25 during mid-day trading on Monday, reaching $27.15. 1,913,137 shares of the company were exchanged, compared to its average volume of 1,651,963. Scientific Games has a 52 week low of $25.30 and a 52 week high of $62.80. The company has a debt-to-equity ratio of -3.90, a current ratio of 1.92 and a quick ratio of 1.58. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of -12.17 and a beta of 2.29.
In other Scientific Games news, Director Gabrielle K. Mcdonald sold 5,000 shares of Scientific Games stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $49.71, for a total value of $248,550.00. Following the completion of the sale, the director now directly owns 10,549 shares in the company, valued at $524,390.79. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald O. Perelman bought 175,000 shares of the stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $31.73 per share, with a total value of $5,552,750.00. Following the completion of the acquisition, the director now owns 88,032 shares of the company’s stock, valued at approximately $2,793,255.36. The disclosure for this purchase can be found here. Insiders have bought 190,000 shares of company stock valued at $6,036,900 over the last 90 days. 40.48% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the business. Bank of Montreal Can bought a new stake in Scientific Games in the second quarter worth approximately $104,000. Alps Advisors Inc. bought a new stake in Scientific Games in the second quarter worth approximately $208,000. EAM Investors LLC bought a new stake in Scientific Games in the second quarter worth approximately $2,114,000. Fox Run Management L.L.C. bought a new stake in Scientific Games in the second quarter worth approximately $719,000. Finally, Northern Trust Corp increased its holdings in Scientific Games by 21.5% in the first quarter. Northern Trust Corp now owns 821,706 shares of the technology company’s stock worth $34,182,000 after purchasing an additional 145,318 shares in the last quarter. Institutional investors and hedge funds own 70.66% of the company’s stock.
About Scientific Games
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.
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