Scientific Games Corp (SGMS) Upgraded at Zacks Investment Research
Scientific Games Corp (NASDAQ:SGMS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The firm currently has a $30.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.32% from the stock’s previous close.
According to Zacks, “Scientific Games shares have vastly outperformed the Zacks Computer Services Industry on a year-to-date basis. Estimates have been going up ahead of the company's Q2 earnings release. The company has mixed record of earnings surprises in recent quarters. The company aims at reducing costs and optimize its operational structure to drive bottom line growth going ahead. The company's acquisitions of Bally Technologies and WMS Industries are also positives as these expand its global footprint. However, sluggishness in the gaming segment especially with regard to WAP, premium installed base and gaming systems and forex fluctuations remain concerns.”
A number of other research analysts also recently issued reports on SGMS. Stifel Nicolaus restated a “hold” rating and set a $24.00 target price on shares of Scientific Games Corp in a research report on Friday, July 14th. BidaskClub downgraded shares of Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. ValuEngine raised shares of Scientific Games Corp from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Telsey Advisory Group boosted their target price on shares of Scientific Games Corp from $20.00 to $24.00 and gave the stock a “market perform” rating in a research note on Friday, April 28th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $24.50.
Scientific Games Corp (SGMS) traded down 0.278% during trading on Thursday, reaching $26.875. The company had a trading volume of 271,495 shares. The stock’s market capitalization is $2.39 billion. The stock has a 50 day moving average of $25.57 and a 200-day moving average of $21.91. Scientific Games Corp has a 12-month low of $8.07 and a 12-month high of $27.40.
Scientific Games Corp (NASDAQ:SGMS) last posted its 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 for the quarter, compared to the consensus estimate of $706.74 million. Scientific Games Corp’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, analysts forecast that Scientific Games Corp will post ($2.38) earnings per share for the current fiscal year.
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In other news, Director Michael Gavin Isaacs sold 154,951 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $22.81, for a total value of $3,534,432.31. Following the transaction, the director now directly 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 this hyperlink. Corporate insiders own 42.03% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SGMS. Louisiana State Employees Retirement System raised its stake in Scientific Games Corp by 2.0% in the first quarter. Louisiana State Employees Retirement System now owns 20,800 shares of the technology company’s stock worth $492,000 after buying an additional 400 shares during the period. Fox Run Management L.L.C. raised its stake in Scientific Games Corp by 3.4% in the first quarter. Fox Run Management L.L.C. now owns 21,100 shares of the technology company’s stock worth $499,000 after buying an additional 700 shares during the period. Parametrica Management Ltd acquired a new stake in Scientific Games Corp during the first quarter worth about $211,000. Teachers Advisors LLC raised its stake in Scientific Games Corp by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 86,229 shares of the technology company’s stock worth $1,207,000 after buying an additional 3,450 shares during the period. Finally, USA Financial Portformulas Corp acquired a new stake in Scientific Games Corp during the fourth quarter worth about $242,000. Institutional investors own 61.38% of the company’s stock.
Scientific Games Corp Company Profile
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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