Scientific Games Corp (SGMS) Given Average Recommendation of “Hold” by Brokerages

Shares of Scientific Games Corp (NASDAQ:SGMS) have earned an average recommendation of “Hold” from the ten research firms that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $47.00.

SGMS has been the topic of a number of recent research reports. ValuEngine downgraded shares of Scientific Games from a “hold” rating to a “sell” rating in a report on Tuesday, September 4th. Jefferies Financial Group cut their price target on shares of Scientific Games from $61.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday, August 7th. SunTrust Banks initiated coverage on shares of Scientific Games in a report on Monday, October 1st. They set a “buy” rating and a $36.00 price target on the stock. Credit Suisse Group initiated coverage on shares of Scientific Games in a report on Tuesday, August 14th. They set an “underperform” rating and a $31.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of Scientific Games from a “buy” rating to a “hold” rating in a report on Monday, August 6th.

Shares of NASDAQ:SGMS opened at $18.59 on Thursday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -8.34 and a beta of 2.29. Scientific Games has a 12-month low of $18.37 and a 12-month high of $62.80.

Scientific Games (NASDAQ:SGMS) last issued its earnings results on Thursday, August 2nd. The technology company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $844.70 million for the quarter, compared to analyst estimates of $853.64 million. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned ($0.44) EPS. Equities research analysts expect that Scientific Games will post -0.67 earnings per share for the current fiscal year.

In other Scientific Games news, Director Barry F. Schwartz purchased 5,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were acquired at an average price of $24.76 per share, for a total transaction of $123,800.00. Following the acquisition, the director now owns 106,852 shares of the company’s stock, valued at $2,645,655.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronald O. Perelman bought 175,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was purchased at an average price of $31.73 per share, for a total transaction of $5,552,750.00. Following the acquisition, the director now directly owns 88,032 shares in the company, valued at $2,793,255.36. The disclosure for this purchase can be found here. Insiders have bought a total of 195,000 shares of company stock worth $6,160,700 in the last 90 days. 40.48% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in Scientific Games by 6.3% in the 2nd quarter. BlackRock Inc. now owns 6,072,629 shares of the technology company’s stock worth $298,469,000 after acquiring an additional 361,648 shares during the period. Whale Rock Capital Management LLC raised its holdings in Scientific Games by 25.0% in the 2nd quarter. Whale Rock Capital Management LLC now owns 2,610,625 shares of the technology company’s stock worth $128,312,000 after acquiring an additional 522,724 shares during the period. Northern Trust Corp raised its holdings in Scientific Games by 3.9% in the 2nd quarter. Northern Trust Corp now owns 854,135 shares of the technology company’s stock worth $41,981,000 after acquiring an additional 32,429 shares during the period. Dimensional Fund Advisors LP raised its holdings in Scientific Games by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 851,431 shares of the technology company’s stock worth $35,419,000 after acquiring an additional 6,523 shares during the period. Finally, RWC Asset Management LLP raised its holdings in Scientific Games by 71.4% in the 2nd quarter. RWC Asset Management LLP now owns 600,000 shares of the technology company’s stock worth $29,490,000 after acquiring an additional 250,000 shares during the period. Hedge funds and other institutional investors own 65.97% of the company’s stock.

About Scientific Games

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

See Also: How to Use the New Google Finance Tool

Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

Receive News & Ratings for Scientific Games Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scientific Games and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply