Scientific Games Corp (NASDAQ:SGMS) Releases Earnings Results, Beats Estimates By $0.07 EPS
Scientific Games Corp (NASDAQ:SGMS) issued its earnings results on Monday. The technology company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.07, MarketWatch Earnings reports. The firm had revenue of $766.30 million for the quarter, compared to analyst estimates of $732.93 million. The business’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.59) EPS.
Shares of Scientific Games Corp (NASDAQ SGMS) opened at 26.85 on Monday. The firm’s market capitalization is $2.38 billion. Scientific Games Corp has a 52-week low of $8.07 and a 52-week high of $27.40. The stock has a 50 day moving average of $25.67 and a 200 day moving average of $21.95.
Several equities analysts have issued reports on the stock. Stifel Nicolaus upped their price objective on shares of Scientific Games Corp from $22.00 to $24.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Zacks Investment Research raised shares of Scientific Games Corp from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Tuesday, May 2nd. ValuEngine raised shares of Scientific Games Corp from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Scientific Games Corp from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Finally, Telsey Advisory Group upped their target price on shares of Scientific Games Corp from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Friday, April 28th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.50.
In related news, Director Michael Gavin Isaacs sold 154,951 shares of the business’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 sale, the director now directly owns 110,542 shares in the company, valued at approximately $2,521,463.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.53% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Scientific Games Corp during the fourth quarter valued at approximately $946,000. Comerica Bank increased its stake 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 in the last quarter. State Street Corp increased its stake in Scientific Games Corp by 10.1% in the fourth quarter. State Street Corp now owns 1,149,643 shares of the technology company’s stock valued at $16,095,000 after buying an additional 105,799 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Scientific Games Corp during the fourth quarter valued at approximately $1,976,000. Finally, Guggenheim Capital LLC acquired a new stake in Scientific Games Corp during the fourth quarter valued at approximately $1,072,000. 61.38% of the stock is owned by institutional investors.
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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