Short Interest in Scientific Games Corp. Increases By 53.7% (SGMS)
Scientific Games Corp. (NASDAQ:SGMS) saw a large increase in short interest in May. As of May 15th, there was short interest totalling 4,599,193 shares, an increase of 53.7% from the April 30th total of 2,993,226 shares, AnalystRatingsNetwork.com reports. Currently, 9.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,941,317 shares, the days-to-cover ratio is currently 2.4 days.
A number of research firms have recently commented on SGMS. Analysts at Zacks downgraded shares of Scientific Games Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, May 23rd. They now have a $8.50 price target on the stock. Separately, analysts at JPMorgan Chase & Co. cut their price target on shares of Scientific Games Corp. from $16.00 to $13.00 in a research note on Friday, May 9th. They now have an “overweight” rating on the stock. Finally, analysts at JPMorgan Chase & Co. initiated coverage on shares of Scientific Games Corp. in a research note on Monday, April 28th. They set an “overweight” rating and a $16.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.50.
Shares of Scientific Games Corp. (NASDAQ:SGMS) opened at 8.95 on Monday. Scientific Games Corp. has a 52-week low of $8.28 and a 52-week high of $19.48. The stock’s 50-day moving average is $10.66 and its 200-day moving average is $14.19. The company’s market cap is $754.2 million.
Scientific Games Corp. (NASDAQ:SGMS) last posted its quarterly earnings results on Thursday, May 8th. The company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.56. The company had revenue of $388.10 million for the quarter, compared to the consensus estimate of $421.02 million. During the same quarter in the previous year, the company posted ($0.16) earnings per share. The company’s revenue for the quarter was up 76.7% on a year-over-year basis. On average, analysts predict that Scientific Games Corp. will post $-0.83 earnings per share for the current fiscal year.
Scientific Games Corporation (NASDAQ:SGMS) is a global supplier of solutions to lottery and gaming organizations worldwide.
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