Glu Mobile Inc. (GLUU) Expected to Post Earnings of $0.07 Per Share

Analysts predict that Glu Mobile Inc. (NASDAQ:GLUU) will report earnings of $0.07 per share for the current quarter, according to Zacks. Four analysts have made estimates for Glu Mobile’s earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.08. Glu Mobile reported earnings per share of ($0.09) in the same quarter last year, which would suggest a positive year over year growth rate of 177.8%. The company is scheduled to issue its next earnings report after the market closes on Tuesday, November 6th.

According to Zacks, analysts expect that Glu Mobile will report full year earnings of $0.25 per share for the current year, with EPS estimates ranging from $0.22 to $0.27. For the next fiscal year, analysts expect that the business will report earnings of $0.34 per share, with EPS estimates ranging from $0.29 to $0.43. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Tuesday, July 31st. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The business had revenue of $90.20 million during the quarter, compared to the consensus estimate of $91.56 million. Glu Mobile had a negative return on equity of 26.30% and a negative net margin of 18.88%. The business’s revenue was up 31.3% on a year-over-year basis. During the same period last year, the company earned ($0.17) EPS.

GLUU has been the subject of a number of research reports. BidaskClub lowered Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. Zacks Investment Research raised Glu Mobile from a “hold” rating to a “buy” rating and set a $7.25 price target for the company in a research note on Wednesday, June 27th. Stifel Nicolaus increased their price target on Glu Mobile from $6.50 to $7.00 and gave the company a “buy” rating in a research note on Wednesday, August 1st. Wedbush set a $7.00 price target on Glu Mobile and gave the company a “hold” rating in a research note on Wednesday, August 1st. Finally, Roth Capital lowered Glu Mobile from a “buy” rating to a “neutral” rating in a research note on Monday, October 8th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Glu Mobile currently has a consensus rating of “Buy” and a consensus target price of $6.38.

Glu Mobile stock traded down $0.31 during midday trading on Thursday, reaching $6.09. 47,861 shares of the stock traded hands, compared to its average volume of 2,147,365. Glu Mobile has a 12 month low of $3.02 and a 12 month high of $7.80. The firm has a market cap of $1.06 billion, a PE ratio of -11.94, a PEG ratio of 6.21 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.03.

In other news, Director Eric R. Ball sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $6.46, for a total value of $161,500.00. Following the completion of the sale, the director now directly owns 75,000 shares of the company’s stock, valued at approximately $484,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric R. Ludwig sold 142,500 shares of the firm’s stock in a transaction that occurred on Friday, September 7th. The shares were sold at an average price of $7.32, for a total value of $1,043,100.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 267,500 shares of company stock valued at $1,835,600. 5.80% of the stock is owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Glu Mobile by 6.4% in the 2nd quarter. BlackRock Inc. now owns 7,702,726 shares of the company’s stock valued at $49,374,000 after purchasing an additional 460,693 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Glu Mobile by 31.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,948,495 shares of the company’s stock valued at $7,346,000 after purchasing an additional 462,526 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Glu Mobile by 13.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 1,438,681 shares of the company’s stock valued at $9,222,000 after purchasing an additional 170,912 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Glu Mobile by 14.3% in the 2nd quarter. Northern Trust Corp now owns 1,321,499 shares of the company’s stock valued at $8,471,000 after purchasing an additional 165,276 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Glu Mobile by 5.4% in the 2nd quarter. Renaissance Technologies LLC now owns 1,049,600 shares of the company’s stock valued at $6,728,000 after purchasing an additional 54,000 shares during the last quarter. 54.17% of the stock is owned by institutional investors and hedge funds.

About Glu Mobile

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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