Zacks: Brokerages Anticipate Glu Mobile Inc. (GLUU) Will Post Earnings of $0.07 Per Share

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Brokerages predict that Glu Mobile Inc. (NASDAQ:GLUU) will announce earnings of $0.07 per share for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Glu Mobile’s earnings, with the highest EPS estimate coming in at $0.07 and the lowest estimate coming in at $0.06. Glu Mobile posted earnings per share of ($0.14) in the same quarter last year, which suggests a positive year over year growth rate of 150%. The business is expected to announce its next quarterly earnings results on Thursday, February 14th.

On average, analysts expect that Glu Mobile will report full-year earnings of $0.26 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.28. For the next fiscal year, analysts anticipate that the company will post earnings of $0.34 per share, with EPS estimates ranging from $0.29 to $0.37. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last posted its earnings results on Tuesday, November 6th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.07 by $0.01. The company had revenue of $99.30 million for the quarter, compared to the consensus estimate of $96.14 million. Glu Mobile had a negative return on equity of 19.28% and a negative net margin of 14.65%. The firm’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.09) earnings per share.

GLUU has been the subject of several recent research reports. Stephens initiated coverage on Glu Mobile in a research note on Thursday, January 10th. They issued an “overweight” rating and a $10.50 price target for the company. Roth Capital cut Glu Mobile from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Cowen boosted their price target on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research note on Monday, December 10th. BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 1st. Finally, Wedbush reiterated a “hold” rating and issued a $7.00 price target on shares of Glu Mobile in a research note on Wednesday, November 7th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Glu Mobile currently has a consensus rating of “Buy” and an average price target of $8.21.

Shares of GLUU stock opened at $9.29 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.26 and a current ratio of 1.26. Glu Mobile has a 1 year low of $3.02 and a 1 year high of $9.78.

In other Glu Mobile news, CRO Chris Akhavan sold 39,903 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $8.09, for a total transaction of $322,815.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Benjamin T. Iv Smith sold 179,595 shares of the stock in a transaction on Thursday, December 6th. The shares were sold at an average price of $7.37, for a total value of $1,323,615.15. Following the completion of the transaction, the director now owns 189,595 shares of the company’s stock, valued at $1,397,315.15. The disclosure for this sale can be found here. Insiders have sold 308,808 shares of company stock valued at $2,272,494 over the last 90 days. Corporate insiders own 5.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in GLUU. JPMorgan Chase & Co. increased its holdings in Glu Mobile by 14,199.2% in the third quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock valued at $23,774,000 after purchasing an additional 3,168,975 shares during the period. Emerald Advisers Inc. PA increased its holdings in Glu Mobile by 5,940.3% in the third quarter. Emerald Advisers Inc. PA now owns 1,229,200 shares of the company’s stock valued at $9,158,000 after purchasing an additional 1,208,850 shares during the period. MARSHALL WACE ASIA Ltd increased its holdings in Glu Mobile by 34.8% in the third quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock valued at $33,941,000 after purchasing an additional 1,176,427 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in Glu Mobile in the third quarter valued at $8,470,000. Finally, Vanguard Group Inc increased its holdings in Glu Mobile by 9.9% in the third quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock valued at $80,407,000 after purchasing an additional 975,586 shares during the period. Institutional investors own 56.29% of the company’s stock.

Glu Mobile Company Profile

Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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