Scientific Games Corp (SGMS) Expected to Announce Quarterly Sales of $809.75 Million

Analysts expect Scientific Games Corp (NASDAQ:SGMS) to post sales of $809.75 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Scientific Games’ earnings, with the lowest sales estimate coming in at $800.80 million and the highest estimate coming in at $818.69 million. Scientific Games posted sales of $752.20 million during the same quarter last year, which suggests a positive year over year growth rate of 7.7%. The business is expected to report its next earnings report after the market closes on Wednesday, February 28th.

According to Zacks, analysts expect that Scientific Games will report full year sales of $809.75 million for the current year, with estimates ranging from $3.06 billion to $3.08 billion. For the next fiscal year, analysts forecast that the business will report sales of $3.30 billion per share, with estimates ranging from $3.21 billion to $3.36 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Scientific Games.

SGMS has been the topic of a number of analyst reports. BidaskClub lowered shares of Scientific Games from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Zacks Investment Research lowered shares of Scientific Games from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $55.00 target price on shares of Scientific Games in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $45.20.

In other Scientific Games news, Director Michael J. Regan sold 17,000 shares of Scientific Games stock in a transaction on Monday, November 13th. The shares were sold at an average price of $46.88, for a total value of $796,960.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard M. Haddrill sold 8,000 shares of Scientific Games stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $51.28, for a total transaction of $410,240.00. Following the completion of the transaction, the director now owns 136,542 shares in the company, valued at approximately $7,001,873.76. The disclosure for this sale can be found here. 40.61% of the stock is owned by company insiders.

Several hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Scientific Games by 1.9% in the 4th quarter. BlackRock Inc. now owns 6,609,383 shares of the technology company’s stock valued at $339,061,000 after acquiring an additional 123,272 shares during the period. Whale Rock Capital Management LLC raised its stake in shares of Scientific Games by 48.0% in the 3rd quarter. Whale Rock Capital Management LLC now owns 2,093,468 shares of the technology company’s stock valued at $95,986,000 after acquiring an additional 678,561 shares during the period. State Street Corp raised its stake in shares of Scientific Games by 5.4% in the 2nd quarter. State Street Corp now owns 1,279,638 shares of the technology company’s stock valued at $33,399,000 after acquiring an additional 65,816 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Scientific Games by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 841,496 shares of the technology company’s stock valued at $38,580,000 after acquiring an additional 20,166 shares during the period. Finally, Hennessy Advisors Inc. raised its stake in shares of Scientific Games by 326.6% in the 4th quarter. Hennessy Advisors Inc. now owns 822,100 shares of the technology company’s stock valued at $42,174,000 after acquiring an additional 629,400 shares during the period. 64.33% of the stock is currently owned by institutional investors and hedge funds.

Shares of Scientific Games (SGMS) opened at $41.95 on Friday. Scientific Games has a 1 year low of $19.65 and a 1 year high of $56.45. The company has a quick ratio of 1.45, a current ratio of 1.83 and a debt-to-equity ratio of -4.07.

TRADEMARK VIOLATION NOTICE: “Scientific Games Corp (SGMS) Expected to Announce Quarterly Sales of $809.75 Million” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/11/scientific-games-corp-sgms-expected-to-announce-quarterly-sales-of-809-75-million.html.

Scientific Games 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.

Get a free copy of the Zacks research report on Scientific Games (SGMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Scientific Games Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scientific Games and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply