Scientific Games Corp (SGMS) Receives Average Recommendation of “Hold” from Analysts
Shares of Scientific Games Corp (NASDAQ:SGMS) have been given an average recommendation of “Hold” by the eight ratings firms that are covering the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $16.14.
A number of analysts recently issued reports on SGMS shares. Zacks Investment Research upgraded Scientific Games Corp from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Tuesday, May 2nd. Bank of America Corp upgraded Scientific Games Corp from an “underperform” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday, January 26th. Stifel Nicolaus boosted their price target on Scientific Games Corp from $22.00 to $24.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Telsey Advisory Group boosted their price target on Scientific Games Corp from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, April 28th.
In other news, Director Michael Gavin Isaacs sold 154,951 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $22.81, for a total transaction of $3,534,432.31. Following the completion of the sale, the director now owns 110,542 shares in the company, valued at approximately $2,521,463.02. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 42.03% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SGMS. Whitebox Advisors LLC purchased a new position in Scientific Games Corp during the third quarter valued at about $1,800,000. Russell Investments Group Ltd. purchased a new position in Scientific Games Corp during the fourth quarter valued at about $946,000. Two Sigma Investments LP purchased a new position in Scientific Games Corp during the fourth quarter valued at about $1,298,000. AQR Capital Management LLC purchased a new position in Scientific Games Corp during the fourth quarter valued at about $247,000. Finally, Comerica Bank increased its position in Scientific Games Corp by 6.3% in the fourth quarter. Comerica Bank now owns 46,214 shares of the technology company’s stock valued at $723,000 after buying an additional 2,726 shares during the last quarter. 65.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Scientific Games Corp (NASDAQ:SGMS) opened at 23.30 on Friday. The stock’s market cap is $2.07 billion. Scientific Games Corp has a 12-month low of $7.90 and a 12-month high of $24.55. The firm has a 50-day moving average price of $22.39 and a 200 day moving average price of $18.08.
Scientific Games Corp (NASDAQ:SGMS) last announced its quarterly earnings results on Thursday, April 27th. The technology company reported ($0.92) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by $0.18. The company had revenue of $725.40 million during the quarter, compared to analysts’ expectations of $706.74 million. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts expect that Scientific Games Corp will post ($2.50) earnings per share for the current year.
About Scientific Games Corp
Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.
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