Scientific Games Corp (NASDAQ:SGMS) Expected to Post Earnings of $0.01 Per Share

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Equities research analysts predict that Scientific Games Corp (NASDAQ:SGMS) will report earnings of $0.01 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Scientific Games’ earnings, with estimates ranging from ($0.03) to $0.10. Scientific Games reported earnings of ($0.14) per share during the same quarter last year, which would indicate a positive year over year growth rate of 107.1%. The firm is scheduled to issue its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Scientific Games will report full year earnings of ($0.75) per share for the current fiscal year, with EPS estimates ranging from ($0.97) to $0.12. For the next financial year, analysts forecast that the company will report earnings of $0.68 per share, with EPS estimates ranging from $0.46 to $0.95. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Scientific Games.

SGMS has been the topic of a number of recent analyst reports. Deutsche Bank reduced their price target on shares of Scientific Games from $26.00 to $22.00 and set an “in-line” rating on the stock in a research report on Wednesday, May 8th. ValuEngine raised shares of Scientific Games from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub downgraded shares of Scientific Games from a “hold” rating to a “sell” rating in a research note on Friday, August 16th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $31.00 target price (down from $36.00) on shares of Scientific Games in a research note on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Scientific Games currently has a consensus rating of “Hold” and a consensus price target of $26.17.

NASDAQ:SGMS opened at $16.79 on Friday. The firm has a market cap of $1.56 billion, a PE ratio of -31.08 and a beta of 2.21. Scientific Games has a 12 month low of $14.79 and a 12 month high of $32.50. The company’s 50-day moving average price is $18.78 and its two-hundred day moving average price is $21.25.

In other Scientific Games news, Director Ronald O. Perelman purchased 120,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The stock was acquired at an average cost of $20.29 per share, with a total value of $2,434,800.00. Following the completion of the purchase, the director now directly owns 7,519 shares in the company, valued at approximately $152,560.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald O. Perelman purchased 110,000 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were acquired at an average cost of $19.73 per share, with a total value of $2,170,300.00. Following the completion of the purchase, the director now owns 7,519 shares of the company’s stock, valued at $148,349.87. The disclosure for this purchase can be found here. Insiders own 40.60% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nuveen Asset Management LLC acquired a new position in shares of Scientific Games in the second quarter valued at approximately $17,576,000. Intrinsic Edge Capital Management LLC bought a new stake in Scientific Games during the second quarter worth $14,619,000. BlackRock Inc. raised its position in Scientific Games by 8.1% during the second quarter. BlackRock Inc. now owns 6,876,116 shares of the technology company’s stock worth $136,284,000 after acquiring an additional 515,519 shares in the last quarter. Panagora Asset Management Inc. raised its position in Scientific Games by 752.9% during the second quarter. Panagora Asset Management Inc. now owns 475,765 shares of the technology company’s stock worth $9,430,000 after acquiring an additional 419,985 shares in the last quarter. Finally, Norges Bank bought a new stake in Scientific Games during the fourth quarter worth $6,008,000. 64.88% of the stock is owned by institutional investors and hedge funds.

About Scientific Games

Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; slot, casino, and table-management systems; table products, including shufflers; and perpetual licenses to proprietary table games.

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