Brokerages expect Scientific Games Corp (NASDAQ:SGMS) to post $824.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Scientific Games’ earnings, with estimates ranging from $781.10 million to $841.92 million. Scientific Games posted sales of $768.90 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, November 8th.
On average, analysts expect that Scientific Games will report full-year sales of $3.36 billion for the current year, with estimates ranging from $3.25 billion to $3.41 billion. For the next fiscal year, analysts forecast that the firm will report sales of $3.49 billion, with estimates ranging from $3.38 billion to $3.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Scientific Games.
A number of analysts have recently weighed in on SGMS shares. SunTrust Banks started coverage on Scientific Games in a research report on Monday, October 1st. They issued a “buy” rating and a $36.00 price objective for the company. BidaskClub cut Scientific Games from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 7th. Jefferies Financial Group lowered their price target 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. ValuEngine cut Scientific Games from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Finally, Stifel Nicolaus lowered their price target on Scientific Games from $57.00 to $46.00 and set a “hold” rating for the company in a research report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $48.43.
In other Scientific Games news, Director Barry F. Schwartz purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 15th. The stock was purchased at an average price of $30.35 per share, for a total transaction of $151,750.00. Following the purchase, the director now directly owns 101,852 shares in the company, valued at $3,091,208.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Barry L. Cottle purchased 10,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was acquired at an average price of $33.24 per share, with a total value of $332,400.00. Following the purchase, the insider now owns 76,287 shares in the company, valued at $2,535,779.88. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 195,000 shares of company stock valued at $6,160,700. 40.48% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Waratah Capital Advisors Ltd. purchased a new position in shares of Scientific Games in the 3rd quarter valued at about $305,000. Cubist Systematic Strategies LLC increased its stake in shares of Scientific Games by 136.6% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,125 shares of the technology company’s stock valued at $1,579,000 after purchasing an additional 18,548 shares in the last quarter. Sei Investments Co. increased its stake in shares of Scientific Games by 29,822.9% in the 2nd quarter. Sei Investments Co. now owns 14,363 shares of the technology company’s stock valued at $706,000 after purchasing an additional 14,315 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Scientific Games by 3.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 300,551 shares of the technology company’s stock valued at $14,773,000 after purchasing an additional 9,491 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new position in shares of Scientific Games in the 2nd quarter valued at about $364,000. Hedge funds and other institutional investors own 66.11% of the company’s stock.
Shares of Scientific Games stock traded down $0.19 during trading on Thursday, reaching $21.65. The company’s stock had a trading volume of 781,323 shares, compared to its average volume of 1,264,421. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of -9.71 and a beta of 2.21. Scientific Games has a 1-year low of $18.21 and a 1-year high of $62.80.
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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