Zacks: Analysts Anticipate Scientific Games Co. (NASDAQ:SGMS) Will Post Earnings of -$0.39 Per Share

Equities analysts forecast that Scientific Games Co. (NASDAQ:SGMSGet Rating) will report earnings per share of ($0.39) for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Scientific Games’ earnings, with the lowest EPS estimate coming in at ($0.53) and the highest estimate coming in at ($0.31). Scientific Games posted earnings per share of ($0.16) during the same quarter last year, which would suggest a negative year over year growth rate of 143.8%. The company is scheduled to report its next quarterly earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Scientific Games will report full year earnings of ($0.01) per share for the current financial year, with EPS estimates ranging from ($1.04) to $0.77. For the next fiscal year, analysts expect that the firm will post earnings of $2.43 per share, with EPS estimates ranging from $1.81 to $3.00. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Scientific Games.

Scientific Games (NASDAQ:SGMSGet Rating) last released its quarterly earnings data on Tuesday, March 1st. The technology company reported $0.58 earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.94. The business had revenue of $580.00 million for the quarter, compared to analyst estimates of $558.79 million. Scientific Games had a negative return on equity of 10.75% and a net margin of 13.60%. Scientific Games’s revenue was up 20.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.59) earnings per share.

A number of research firms have weighed in on SGMS. Susquehanna increased their target price on shares of Scientific Games from $13.00 to $55.00 and gave the company a “neutral” rating in a research report on Friday, March 11th. Credit Suisse Group upped their price objective on shares of Scientific Games from $45.00 to $52.00 and gave the company an “underperform” rating in a research note on Thursday, March 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Scientific Games from $71.00 to $67.00 and set a “hold” rating on the stock in a research note on Wednesday, March 2nd. Susquehanna Bancshares upped their price objective on shares of Scientific Games from $13.00 to $55.00 in a research note on Friday, March 11th. Finally, Truist Financial reduced their price objective on shares of Scientific Games from $110.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, January 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $76.64.

NASDAQ:SGMS traded up $1.23 during trading hours on Thursday, hitting $63.08. 1,208 shares of the company were exchanged, compared to its average volume of 797,731. Scientific Games has a one year low of $42.70 and a one year high of $90.20. The stock has a market capitalization of $6.10 billion, a price-to-earnings ratio of 16.87 and a beta of 1.86. The company has a fifty day simple moving average of $60.33 and a 200 day simple moving average of $65.67.

In related news, Director Hamish Mclennan bought 6,250 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average cost of $54.79 per share, with a total value of $342,437.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Scientific Games by 7.5% in the fourth quarter. BlackRock Inc. now owns 10,186,006 shares of the technology company’s stock valued at $680,730,000 after buying an additional 714,287 shares in the last quarter. Fine Capital Partners L.P. raised its holdings in shares of Scientific Games by 3.9% in the fourth quarter. Fine Capital Partners L.P. now owns 9,354,622 shares of the technology company’s stock valued at $625,169,000 after purchasing an additional 355,000 shares during the last quarter. Caledonia Private Investments Pty Ltd raised its holdings in shares of Scientific Games by 0.3% in the third quarter. Caledonia Private Investments Pty Ltd now owns 9,296,876 shares of the technology company’s stock valued at $772,291,000 after purchasing an additional 32,143 shares during the last quarter. State Street Corp raised its holdings in shares of Scientific Games by 2.4% in the fourth quarter. State Street Corp now owns 2,870,556 shares of the technology company’s stock valued at $191,839,000 after purchasing an additional 67,718 shares during the last quarter. Finally, Natixis purchased a new stake in shares of Scientific Games in the third quarter valued at about $192,163,000. 93.19% of the stock is currently owned by hedge funds and other institutional investors.

Scientific Games Company Profile (Get Rating)

Scientific Games Corporation, doing business as Light & Wonder Inc, develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to proprietary table games.

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