Scientific Games Co. (NASDAQ:SGMS) Receives Average Rating of “Hold” from Brokerages

Shares of Scientific Games Co. (NASDAQ:SGMSGet Rating) have been assigned an average rating of “Hold” from the twelve research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $76.64.

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group increased their price target on shares of Scientific Games from $45.00 to $52.00 and gave the company an “underperform” rating in a report on Thursday, March 3rd. Truist Financial dropped their target price on shares of Scientific Games from $110.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, January 13th. Susquehanna boosted their price target on Scientific Games from $13.00 to $55.00 and gave the stock a “neutral” rating in a research note on Friday, March 11th. StockNews.com initiated coverage on Scientific Games in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Susquehanna Bancshares boosted their target price on Scientific Games from $13.00 to $55.00 in a research report on Friday, March 11th.

Shares of NASDAQ:SGMS opened at $59.62 on Friday. Scientific Games has a 52 week low of $45.56 and a 52 week high of $90.20. The company has a 50-day moving average price of $60.28 and a 200 day moving average price of $65.62. The company has a market cap of $5.76 billion, a P/E ratio of 15.98 and a beta of 1.86.

Scientific Games (NASDAQ:SGMSGet Rating) last posted its quarterly earnings results on Tuesday, March 1st. The technology company reported $0.58 EPS for the quarter, beating the consensus estimate of ($0.36) by $0.94. Scientific Games had a negative return on equity of 10.75% and a net margin of 13.60%. The business had revenue of $580.00 million during the quarter, compared to analysts’ expectations of $558.79 million. During the same period last year, the firm earned ($0.59) EPS. The company’s quarterly revenue was up 20.8% compared to the same quarter last year. As a group, analysts predict that Scientific Games will post 0.22 earnings per share for the current fiscal year.

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

Hedge funds have recently added to or reduced their stakes in the business. Natixis acquired a new position in Scientific Games in the 3rd quarter valued at $192,163,000. Norges Bank acquired a new position in Scientific Games in the fourth quarter valued at $107,803,000. BlackRock Inc. lifted its position in Scientific Games by 18.6% during the third quarter. BlackRock Inc. now owns 9,471,719 shares of the technology company’s stock worth $786,815,000 after buying an additional 1,487,919 shares during the period. Capital Research Global Investors boosted its stake in Scientific Games by 30.6% in the 3rd quarter. Capital Research Global Investors now owns 2,227,936 shares of the technology company’s stock worth $185,075,000 after buying an additional 522,178 shares during the last quarter. Finally, Invesco Ltd. increased its stake in shares of Scientific Games by 49.9% during the 3rd quarter. Invesco Ltd. now owns 1,318,709 shares of the technology company’s stock valued at $109,546,000 after acquiring an additional 438,736 shares during the last quarter. 93.19% of the stock is 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.

Further Reading

Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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