Glu Mobile Inc. (GLUU) Expected to Post Earnings of -$0.03 Per Share

Brokerages predict that Glu Mobile Inc. (NASDAQ:GLUU) will post ($0.03) earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Glu Mobile’s earnings. The highest EPS estimate is ($0.02) and the lowest is ($0.03). Glu Mobile reported earnings of ($0.11) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 72.7%. The business is expected to report its next earnings results on Wednesday, February 14th.

According to Zacks, analysts expect that Glu Mobile will report full-year earnings of ($0.07) per share for the current financial year, with EPS estimates ranging from ($0.08) to ($0.06). For the next fiscal year, analysts anticipate that the business will report earnings of $0.08 per share, with EPS estimates ranging from $0.05 to $0.12. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings results on Wednesday, November 1st. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Glu Mobile had a negative net margin of 29.74% and a negative return on equity of 35.19%. The company had revenue of $81.10 million for the quarter, compared to analyst estimates of $80.67 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Glu Mobile’s revenue was up 57.8% on a year-over-year basis.

Several research analysts have recently commented on the stock. Roth Capital set a $4.00 price objective on shares of Glu Mobile and gave the company a “buy” rating in a research note on Thursday, August 17th. Stifel Nicolaus reissued a “buy” rating on shares of Glu Mobile in a research note on Thursday, September 7th. ValuEngine raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Cowen Inc reissued an “outperform” rating and issued a $3.50 price objective (up previously from $3.00) on shares of Glu Mobile in a research note on Wednesday, August 2nd. Finally, Wedbush reiterated a “hold” rating on shares of Glu Mobile in a research note on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $3.97.

Glu Mobile (NASDAQ:GLUU) opened at $4.31 on Friday. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.03. Glu Mobile has a 12 month low of $1.85 and a 12 month high of $4.73.

In other news, Director Hany Nada sold 766,456 shares of Glu Mobile stock in a transaction on Monday, October 16th. The shares were sold at an average price of $4.51, for a total value of $3,456,716.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Masi Niccolo De sold 131,966 shares of Glu Mobile stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $3.70, for a total transaction of $488,274.20. Following the completion of the transaction, the insider now directly owns 512,859 shares in the company, valued at $1,897,578.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,196,422 shares of company stock worth $5,055,591. 5.60% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. increased its stake in Glu Mobile by 125.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 47,691 shares of the company’s stock valued at $108,000 after buying an additional 26,535 shares during the period. Emerald Advisers Inc. PA acquired a new position in Glu Mobile in the 2nd quarter valued at $141,000. Voya Investment Management LLC increased its stake in Glu Mobile by 19.2% in the 2nd quarter. Voya Investment Management LLC now owns 56,969 shares of the company’s stock valued at $142,000 after buying an additional 9,186 shares during the period. American International Group Inc. increased its stake in Glu Mobile by 7.1% in the 1st quarter. American International Group Inc. now owns 63,380 shares of the company’s stock valued at $144,000 after buying an additional 4,196 shares during the period. Finally, Capital Advisors Inc. OK boosted its position in shares of Glu Mobile by 43.3% during the 2nd quarter. Capital Advisors Inc. OK now owns 65,900 shares of the company’s stock worth $165,000 after purchasing an additional 19,900 shares in the last quarter. 35.24% of the stock is currently owned by institutional investors.

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Glu Mobile Company Profile

Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.

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Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

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