Scientific Games (NASDAQ:SGMS) PT Lowered to $85.00

Scientific Games (NASDAQ:SGMS) had its price target reduced by investment analysts at Truist Securities from $110.00 to $85.00 in a research report issued on Thursday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the technology company’s stock. Truist Securities’ price target would indicate a potential upside of 38.66% from the company’s current price. Truist Securities also issued estimates for Scientific Games’ Q1 2022 earnings at $0.44 EPS, Q2 2022 earnings at $0.63 EPS, Q3 2022 earnings at $0.18 EPS and FY2022 earnings at $1.55 EPS.

SGMS has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of Scientific Games from $63.00 to $71.00 and gave the stock a “hold” rating in a research report on Thursday, November 11th. Berenberg Bank assumed coverage on shares of Scientific Games in a research report on Tuesday, October 19th. They set a “buy” rating and a $98.00 price target on the stock. Credit Suisse Group raised their price target on shares of Scientific Games from $39.00 to $45.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 10th. Craig Hallum raised their price target on shares of Scientific Games from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Friday, September 24th. Finally, Truist lowered their price target on shares of Scientific Games from $110.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $81.50.

Shares of SGMS opened at $61.30 on Thursday. The firm has a market capitalization of $5.92 billion, a PE ratio of 33.50 and a beta of 1.93. The company’s 50-day moving average is $65.22 and its 200-day moving average is $71.02. Scientific Games has a fifty-two week low of $36.89 and a fifty-two week high of $90.20.

Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings data on Tuesday, November 9th. The technology company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.51. The company had revenue of $539.00 million for the quarter, compared to analyst estimates of $759.57 million. Scientific Games had a net margin of 6.39% and a negative return on equity of 5.54%. As a group, sell-side analysts expect that Scientific Games will post 2.95 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the business. FORA Capital LLC bought a new position in Scientific Games in the 2nd quarter valued at about $46,000. Advisory Services Network LLC acquired a new stake in shares of Scientific Games in the 2nd quarter valued at approximately $46,000. US Bancorp DE boosted its stake in shares of Scientific Games by 121.5% in the 3rd quarter. US Bancorp DE now owns 866 shares of the technology company’s stock valued at $71,000 after purchasing an additional 475 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its stake in shares of Scientific Games by 86.4% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 1,191 shares of the technology company’s stock valued at $91,000 after purchasing an additional 552 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of Scientific Games in the 3rd quarter valued at approximately $108,000. 93.71% of the stock is currently owned by hedge funds and other institutional investors.

Scientific Games Company Profile

Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay, and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.

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