Scientific Games Corp (SGMS) Receives Consensus Recommendation of “Buy” from Analysts
Scientific Games Corp (NASDAQ:SGMS) has been given an average rating of “Buy” by the ten ratings firms that are currently covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $42.20.
SGMS has been the topic of several analyst reports. Zacks Investment Research raised Scientific Games Corp from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Thursday, July 20th. Bank of America Corporation reaffirmed a “buy” rating and issued a $50.00 price objective (up from $38.00) on shares of Scientific Games Corp in a research note on Wednesday, September 20th. Craig Hallum reaffirmed a “buy” rating and issued a $56.00 price objective (up from $45.00) on shares of Scientific Games Corp in a research note on Thursday, October 5th. Stifel Nicolaus raised their price objective 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. Finally, BidaskClub lowered Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th.
In related news, EVP James C. Kennedy sold 122,681 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $37.14, for a total value of $4,556,372.34. Following the sale, the executive vice president now directly owns 186,363 shares of the company’s stock, valued at $6,921,521.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gabrielle K. Mcdonald sold 2,133 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $38.50, for a total value of $82,120.50. Following the completion of the sale, the director now directly owns 7,173 shares in the company, valued at $276,160.50. The disclosure for this sale can be found here. Insiders sold 192,850 shares of company stock worth $7,281,691 over the last ninety days. 41.53% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC acquired a new stake in Scientific Games Corp in the second quarter valued at about $17,104,000. Piedmont Investment Advisors LLC bought a new position in Scientific Games Corp in the second quarter valued at about $291,000. Ameritas Investment Partners Inc. raised its position in Scientific Games Corp by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,673 shares of the technology company’s stock valued at $122,000 after purchasing an additional 556 shares during the last quarter. Private Advisory Group LLC raised its position in Scientific Games Corp by 17.8% in the second quarter. Private Advisory Group LLC now owns 16,041 shares of the technology company’s stock valued at $419,000 after purchasing an additional 2,421 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Scientific Games Corp by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 42,638 shares of the technology company’s stock valued at $1,113,000 after purchasing an additional 1,227 shares during the last quarter. 62.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of Scientific Games Corp (NASDAQ:SGMS) opened at 46.35 on Wednesday. Scientific Games Corp has a 52 week low of $10.90 and a 52 week high of $48.05. The stock has a 50 day moving average of $40.26 and a 200 day moving average of $29.98. The firm’s market cap is $4.14 billion.
Scientific Games Corp (NASDAQ:SGMS) last released its earnings results on Monday, July 24th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.08. The company 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% compared to the same quarter last year. During the same period last year, the company posted ($0.59) earnings per share. Analysts anticipate that Scientific Games Corp will post ($2.24) earnings per share for the current fiscal 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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