Scientific Games Corp (SGMS) Expected to Announce Earnings of $0.10 Per Share

Wall Street brokerages expect Scientific Games Corp (NASDAQ:SGMS) to report earnings of $0.10 per share for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Scientific Games’ earnings. The highest EPS estimate is $0.22 and the lowest is $0.03. Scientific Games reported earnings of ($0.06) per share in the same quarter last year, which suggests a positive year over year growth rate of 266.7%. The firm is expected to report its next quarterly earnings results on Wednesday, August 7th.

On average, analysts expect that Scientific Games will report full-year earnings of $0.33 per share for the current financial year, with EPS estimates ranging from $0.18 to $0.46. For the next financial year, analysts anticipate that the firm will report earnings of $1.22 per share, with EPS estimates ranging from $0.68 to $1.71. Zacks’ EPS calculations are an average based on a survey of research analysts that cover Scientific Games.

Scientific Games (NASDAQ:SGMS) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.19. The company had revenue of $837.00 million during the quarter, compared to analyst estimates of $832.28 million. During the same period in the prior year, the firm earned ($2.24) EPS. Scientific Games’s quarterly revenue was up 3.1% on a year-over-year basis.

A number of brokerages have weighed in on SGMS. Deutsche Bank reduced their price target on Scientific Games from $26.00 to $22.00 and set an “in-line” rating for the company in a research report on Wednesday. Telsey Advisory Group restated an “outperform” rating and set a $31.00 price target (down from $36.00) on shares of Scientific Games in a research note on Wednesday. BidaskClub lowered Scientific Games from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 27th. Credit Suisse Group restated an “underperform” rating and set a $21.00 price target on shares of Scientific Games in a research note on Wednesday, March 20th. Finally, ValuEngine lowered Scientific Games from a “hold” rating to a “sell” rating in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. Scientific Games has a consensus rating of “Hold” and an average target price of $32.50.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royce & Associates LP bought a new position in Scientific Games during the first quarter valued at about $2,050,000. Parametric Portfolio Associates LLC raised its position in shares of Scientific Games by 12.8% during the 1st quarter. Parametric Portfolio Associates LLC now owns 57,372 shares of the technology company’s stock valued at $1,172,000 after acquiring an additional 6,528 shares during the last quarter. Mason Street Advisors LLC raised its position in shares of Scientific Games by 2.1% during the 1st quarter. Mason Street Advisors LLC now owns 29,433 shares of the technology company’s stock valued at $601,000 after acquiring an additional 612 shares during the last quarter. Stevens Capital Management LP bought a new stake in shares of Scientific Games in the 1st quarter valued at $1,940,000. Finally, Texas Permanent School Fund increased its position in shares of Scientific Games by 4.4% in the 1st quarter. Texas Permanent School Fund now owns 37,581 shares of the technology company’s stock valued at $767,000 after buying an additional 1,574 shares in the last quarter. Hedge funds and other institutional investors own 68.41% of the company’s stock.

Shares of NASDAQ:SGMS traded down $0.57 on Thursday, reaching $21.90. The company had a trading volume of 1,724,821 shares, compared to its average volume of 1,561,458. Scientific Games has a twelve month low of $14.79 and a twelve month high of $62.80. The stock has a market capitalization of $2.08 billion, a P/E ratio of -40.56, a P/E/G ratio of 4.69 and a beta of 2.32.

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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