Zacks: Analysts Anticipate Scientific Games Corp (SGMS) Will Post Quarterly Sales of $739.35 Million
Wall Street brokerages forecast that Scientific Games Corp (NASDAQ:SGMS) will post sales of $739.35 million for the current quarter, Zacks reports. Four analysts have provided estimates for Scientific Games Corp’s earnings, with the lowest sales estimate coming in at $727.67 million and the highest estimate coming in at $757.90 million. Scientific Games Corp reported sales of $729.20 million during the same quarter last year, which indicates a positive year over year growth rate of 1.4%. The firm is scheduled to report its next earnings results before the market opens on Monday, July 24th.
According to Zacks, analysts expect that Scientific Games Corp will report full year sales of $739.35 million for the current financial year, with estimates ranging from $2.97 billion to $3.04 billion. For the next financial year, analysts expect that the firm will report sales of $3.09 billion per share, with estimates ranging from $3.03 billion to $3.16 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Scientific Games Corp.
Scientific Games Corp (NASDAQ:SGMS) last posted its earnings results on Thursday, April 27th. The technology company reported ($0.92) earnings per share for the quarter, missing the consensus estimate of ($0.74) by $0.18. The firm had revenue of $725.40 million for the quarter, compared to analysts’ expectations of $706.74 million. The firm’s revenue for the quarter was up 6.4% compared to the same quarter last year.
Several equities research analysts recently weighed in on SGMS shares. Telsey Advisory Group increased their price target on Scientific Games Corp from $20.00 to $24.00 and gave the stock a “market perform” rating in a report on Friday, April 28th. BidaskClub downgraded Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 5th. Zacks Investment Research raised Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Thursday. Stifel Nicolaus reaffirmed a “hold” rating and set a $24.00 price target on shares of Scientific Games Corp in a report on Friday, July 14th. Finally, ValuEngine raised Scientific Games Corp from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Scientific Games Corp has a consensus rating of “Hold” and an average price target of $24.50.
In other Scientific Games Corp 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 value of $3,534,432.31. Following the completion of the transaction, the director now owns 110,542 shares in the company, valued at $2,521,463.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 42.03% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SGMS. Oppenheimer Asset Management Inc. acquired a new position in Scientific Games Corp during the first quarter valued at about $120,000. SG Americas Securities LLC acquired a new position in Scientific Games Corp during the first quarter valued at about $130,000. State of Alaska Department of Revenue boosted its position in Scientific Games Corp by 2.7% in the first quarter. State of Alaska Department of Revenue now owns 5,640 shares of the technology company’s stock valued at $133,000 after buying an additional 150 shares during the last quarter. Parametrica Management Ltd acquired a new position in Scientific Games Corp during the first quarter valued at about $211,000. Finally, ARP Americas LLC acquired a new position in Scientific Games Corp during the first quarter valued at about $213,000. Hedge funds and other institutional investors own 61.38% of the company’s stock.
Scientific Games Corp (NASDAQ:SGMS) opened at 26.85 on Friday. The stock’s market capitalization is $2.38 billion. Scientific Games Corp has a 12-month low of $8.07 and a 12-month high of $27.40. The stock’s 50 day moving average is $25.67 and its 200 day moving average is $21.95.
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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