$760.72 Million in Sales Expected for Scientific Games Corp (SGMS) This Quarter
Wall Street brokerages expect that Scientific Games Corp (NASDAQ:SGMS) will post $760.72 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Scientific Games Corp’s earnings. The highest sales estimate is $769.78 million and the lowest is $755.57 million. Scientific Games Corp posted sales of $720.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The firm is expected to issue its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Scientific Games Corp will report full year sales of $760.72 million for the current year, with estimates ranging from $3.04 billion to $3.07 billion. For the next fiscal year, analysts forecast that the business will post sales of $3.16 billion per share, with estimates ranging from $3.11 billion to $3.19 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Scientific Games Corp.
Scientific Games Corp (NASDAQ:SGMS) last released its quarterly earnings data on Monday, July 24th. The technology company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.08. The firm had revenue of $766.30 million during the quarter, compared to analyst estimates of $732.93 million. During the same quarter in the prior year, the company posted ($0.59) EPS. The company’s quarterly revenue was up 5.1% on a year-over-year basis.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Scientific Games Corp from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, August 1st. Stifel Nicolaus boosted their target price on Scientific Games Corp from $24.00 to $35.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. BidaskClub cut Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine upgraded 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 Scientific Games Corp from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Friday, April 28th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Scientific Games Corp presently has a consensus rating of “Hold” and an average target price of $30.00.
In other Scientific Games Corp news, Director Michael Gavin Isaacs sold 68,036 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $38.85, for a total transaction of $2,643,198.60. Following the transaction, the director now owns 110,815 shares of the company’s stock, valued at approximately $4,305,162.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gabrielle K. Mcdonald sold 2,133 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $38.50, for a total value of $82,120.50. Following the transaction, the director now directly owns 7,173 shares in the company, valued at approximately $276,160.50. The disclosure for this sale can be found here. Insiders have sold a total of 192,850 shares of company stock worth $7,281,691 in the last ninety days. Insiders own 42.03% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan raised its position in Scientific Games Corp by 1.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 11,600 shares of the technology company’s stock worth $274,000 after buying an additional 220 shares during the last quarter. Alambic Investment Management L.P. raised its position in Scientific Games Corp by 5.1% in the first quarter. Alambic Investment Management L.P. now owns 323,826 shares of the technology company’s stock worth $7,658,000 after buying an additional 15,600 shares during the last quarter. Guggenheim Capital LLC acquired a new position in Scientific Games Corp during the fourth quarter worth $1,072,000. AQR Capital Management LLC acquired a new position in Scientific Games Corp during the fourth quarter worth $247,000. Finally, Laurion Capital Management LP acquired a new position in Scientific Games Corp during the first quarter worth $215,000. 60.42% of the stock is currently owned by institutional investors and hedge funds.
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Scientific Games Corp (SGMS) opened at 35.15 on Friday. The firm’s market cap is $3.14 billion. The company has a 50-day moving average price of $30.48 and a 200-day moving average price of $24.19. Scientific Games Corp has a 12-month low of $8.07 and a 12-month high of $39.25.
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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