Scientific Games Corp (SGMS) Expected to Post Quarterly Sales of $753.60 Million
Analysts forecast that Scientific Games Corp (NASDAQ:SGMS) will report $753.60 million in sales for the current quarter, Zacks reports. Three analysts have provided estimates for Scientific Games Corp’s earnings. The highest sales estimate is $757.63 million and the lowest is $747.60 million. Scientific Games Corp posted sales of $720.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The business is expected to report its next quarterly earnings report after the market closes on Wednesday, November 1st.
According to Zacks, analysts expect that Scientific Games Corp will report full year sales of $753.60 million for the current financial year, with estimates ranging from $3.04 billion to $3.06 billion. For the next year, analysts anticipate that the firm will post sales of $3.19 billion per share, with estimates ranging from $3.14 billion to $3.22 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Scientific Games Corp.
Scientific Games Corp (NASDAQ:SGMS) last issued its earnings results on Monday, July 24th. The technology company reported ($0.44) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.08. The business had revenue of $766.30 million during the quarter, compared to analyst estimates of $732.93 million. Scientific Games Corp’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.59) EPS.
A number of equities research analysts have recently commented on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $24.00 price target on shares of Scientific Games Corp in a research report on Friday, July 14th. Zacks Investment Research raised Scientific Games Corp from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Tuesday, August 1st. Bank of America Corporation reaffirmed a “buy” rating and set a $50.00 price target (up previously from $38.00) on shares of Scientific Games Corp in a research report on Wednesday, September 20th. BidaskClub lowered Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 5th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $56.00 price target (up previously from $45.00) on shares of Scientific Games Corp in a research report on Thursday, October 5th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Scientific Games Corp presently has an average rating of “Buy” and a consensus price target of $42.20.
Scientific Games Corp (SGMS) opened at 44.10 on Thursday. The firm’s market cap is $3.94 billion. The stock has a 50 day moving average price of $42.85 and a 200-day moving average price of $31.61. Scientific Games Corp has a one year low of $10.90 and a one year high of $48.05.
In related news, Director Gabrielle K. Mcdonald sold 2,133 shares of Scientific Games Corp 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 sale, the director now owns 7,173 shares of the company’s stock, valued at approximately $276,160.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP James C. Kennedy sold 122,681 shares of Scientific Games Corp stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $37.14, for a total value of $4,556,372.34. Following the completion of the sale, the executive vice president now directly owns 186,363 shares in the company, valued at approximately $6,921,521.82. The disclosure for this sale can be found here. 41.53% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SGMS. BlackRock Inc. raised its position in Scientific Games Corp by 157,167.7% in the 1st quarter. BlackRock Inc. now owns 6,120,858 shares of the technology company’s stock valued at $144,758,000 after buying an additional 6,116,966 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in Scientific Games Corp in the 2nd quarter valued at approximately $36,929,000. Vanguard Group Inc. raised its position in Scientific Games Corp by 27.6% in the 1st quarter. Vanguard Group Inc. now owns 5,916,233 shares of the technology company’s stock valued at $139,918,000 after buying an additional 1,278,837 shares during the last quarter. Renaissance Technologies LLC raised its position in Scientific Games Corp by 152.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,538,848 shares of the technology company’s stock valued at $40,164,000 after buying an additional 928,800 shares during the last quarter. Finally, Lord Abbett & CO. LLC acquired a new stake in Scientific Games Corp in the 2nd quarter valued at approximately $17,104,000. 63.03% of the stock is currently owned by institutional investors and hedge funds.
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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