Esports Entertainment Group, Inc. (NASDAQ:GMBL) Expected to Post Quarterly Sales of $18.07 Million

Wall Street brokerages expect Esports Entertainment Group, Inc. (NASDAQ:GMBLGet Rating) to report sales of $18.07 million for the current quarter, according to Zacks. Three analysts have issued estimates for Esports Entertainment Group’s earnings, with the highest sales estimate coming in at $19.30 million and the lowest estimate coming in at $17.20 million. Esports Entertainment Group reported sales of $5.40 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 234.6%. The business is scheduled to report its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Esports Entertainment Group will report full year sales of $70.41 million for the current financial year, with estimates ranging from $69.00 million to $72.20 million. For the next fiscal year, analysts forecast that the company will post sales of $94.87 million, with estimates ranging from $90.01 million to $100.50 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Esports Entertainment Group.

Esports Entertainment Group (NASDAQ:GMBLGet Rating) last announced its earnings results on Tuesday, February 22nd. The company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). The company had revenue of $14.53 million during the quarter, compared to analysts’ expectations of $22.01 million. Esports Entertainment Group had a negative net margin of 115.86% and a negative return on equity of 44.43%.

Several equities research analysts recently weighed in on the stock. Roth Capital cut shares of Esports Entertainment Group from a “buy” rating to a “neutral” rating in a research report on Thursday, February 24th. HC Wainwright cut their price objective on shares of Esports Entertainment Group from $14.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, February 23rd. Zacks Investment Research cut shares of Esports Entertainment Group from a “buy” rating to a “hold” rating in a research report on Tuesday, May 3rd. Finally, Benchmark cut their price objective on shares of Esports Entertainment Group from $20.00 to $4.00 and set a “speculative buy” rating for the company in a research report on Wednesday, February 23rd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $8.95.

Several institutional investors have recently added to or reduced their stakes in the company. Renaissance Technologies LLC increased its stake in shares of Esports Entertainment Group by 458.6% in the first quarter. Renaissance Technologies LLC now owns 1,205,260 shares of the company’s stock valued at $871,000 after buying an additional 989,507 shares during the period. Vanguard Group Inc. increased its stake in shares of Esports Entertainment Group by 29.0% in the first quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock valued at $220,000 after buying an additional 68,351 shares during the period. Marshall Wace LLP increased its stake in shares of Esports Entertainment Group by 372.5% in the fourth quarter. Marshall Wace LLP now owns 280,788 shares of the company’s stock valued at $985,000 after buying an additional 221,364 shares during the period. Geode Capital Management LLC increased its stake in shares of Esports Entertainment Group by 7.5% in the third quarter. Geode Capital Management LLC now owns 129,289 shares of the company’s stock valued at $867,000 after buying an additional 8,974 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Esports Entertainment Group by 20.1% in the third quarter. Raymond James & Associates now owns 69,316 shares of the company’s stock valued at $465,000 after buying an additional 11,577 shares during the period. 19.83% of the stock is owned by institutional investors.

Shares of Esports Entertainment Group stock opened at $0.48 on Thursday. The firm has a 50-day moving average of $0.65 and a 200-day moving average of $2.71. The stock has a market cap of $12.40 million, a PE ratio of -0.20 and a beta of 1.07. Esports Entertainment Group has a 52-week low of $0.37 and a 52-week high of $13.74.

Esports Entertainment Group Company Profile (Get Rating)

Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software for managing mission critical functions, such as game licensing and payments.

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