Scientific Games Corp. Trading Down 4.3% on Disappointing Earnings (SGMS)
Scientific Games Corp. (NASDAQ:SGMS) fell 4.3% on Tuesday following a dissappointing earnings announcement, Analyst Ratings Network.com reports. The company traded as low as $8.49 and last traded at $8.51, with a volume of 1,456,914 shares trading hands. The stock had previously closed at $8.89.
The company reported ($0.86) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.27) by $0.59. The company had revenue of $416.90 million for the quarter, compared to the consensus estimate of $413.72 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 77.4% on a year-over-year basis.
A number of research firms have recently commented on SGMS. Analysts at Citigroup Inc. downgraded shares of Scientific Games Corp. from a “buy” rating to a “hold” rating in a research note on Monday. They now have a $90.00 price target on the stock, up previously from $83.30. Separately, analysts at Buckingham Research initiated coverage on shares of Scientific Games Corp. in a research note on Friday, June 27th. They set a “neutral” rating and a $11.00 price target on the stock. Finally, 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. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Scientific Games Corp. presently has an average rating of “Hold” and an average target price of $25.90.
The stock’s 50-day moving average is $10.03 and its 200-day moving average is $11.78. The company’s market cap is $715.5 million.
Scientific Games Corporation (NASDAQ:SGMS) is a global supplier of solutions to lottery and gaming organizations worldwide.
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