Scientific Games (SGMS) Issues Earnings Results, Beats Estimates By $0.04 EPS

Scientific Games (NASDAQ:SGMS) announced its quarterly earnings data on Thursday. The technology company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04, Briefing.com reports. The firm had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $828.92 million. During the same quarter in the previous year, the firm earned ($0.66) earnings per share. Scientific Games’s revenue was up 6.8% on a year-over-year basis.

SGMS traded down $3.42 during mid-day trading on Friday, reaching $23.32. 142,895 shares of the company traded hands, compared to its average volume of 1,732,984. The firm has a market cap of $1.98 billion, a PE ratio of -10.51 and a beta of 2.21. Scientific Games has a 52-week low of $18.21 and a 52-week high of $62.80.

In other Scientific Games news, Director Ronald O. Perelman acquired 175,000 shares of the business’s stock in a transaction dated Monday, August 13th. The stock was purchased at an average price of $31.73 per share, with a total value of $5,552,750.00. Following the transaction, the director now directly owns 88,032 shares in the company, valued at approximately $2,793,255.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Barry F. Schwartz acquired 5,000 shares of the business’s stock in a transaction dated Monday, September 17th. The shares were acquired at an average cost of $24.76 per share, with a total value of $123,800.00. Following the transaction, the director now owns 106,852 shares in the company, valued at $2,645,655.52. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 185,000 shares of company stock valued at $5,828,300. Company insiders own 40.48% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Amalgamated Bank boosted its holdings in Scientific Games by 16.7% in the 2nd quarter. Amalgamated Bank now owns 8,925 shares of the technology company’s stock worth $439,000 after buying an additional 1,279 shares during the period. Russell Investments Group Ltd. lifted its stake in Scientific Games by 4.4% in the 1st quarter. Russell Investments Group Ltd. now owns 30,647 shares of the technology company’s stock worth $1,275,000 after purchasing an additional 1,296 shares in the last quarter. SG Americas Securities LLC lifted its stake in Scientific Games by 21.7% in the 2nd quarter. SG Americas Securities LLC now owns 9,730 shares of the technology company’s stock worth $478,000 after purchasing an additional 1,738 shares in the last quarter. Bank of Montreal Can purchased a new stake in Scientific Games in the 2nd quarter worth $104,000. Finally, Mutual of America Capital Management LLC raised its position in shares of Scientific Games by 6.5% during the 2nd quarter. Mutual of America Capital Management LLC now owns 45,293 shares of the technology company’s stock valued at $2,226,000 after buying an additional 2,770 shares in the last quarter. 66.11% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts recently weighed in on SGMS shares. SunTrust Banks started coverage on shares of Scientific Games in a report on Monday, October 1st. They issued a “buy” rating and a $36.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of Scientific Games from $61.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday, August 7th. ValuEngine lowered shares of Scientific Games from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 3rd. Zacks Investment Research upgraded shares of Scientific Games from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Monday, July 16th. Finally, TheStreet lowered shares of Scientific Games from a “c-” rating to a “d+” rating in a research note on Friday, August 3rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. Scientific Games currently has a consensus rating of “Hold” and a consensus target price of $48.43.

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Scientific Games Company Profile

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.

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Earnings History for Scientific Games (NASDAQ:SGMS)

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