Scientific Games Corp (NASDAQ:SGMS) – Equities research analysts at SunTrust Banks reduced their Q4 2018 EPS estimates for shares of Scientific Games in a research report issued on Wednesday, January 9th. SunTrust Banks analyst B. Jonas now anticipates that the technology company will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.14. SunTrust Banks has a “Buy” rating and a $36.00 price objective on the stock. SunTrust Banks also issued estimates for Scientific Games’ Q1 2019 earnings at $0.03 EPS, Q2 2019 earnings at $0.04 EPS, Q3 2019 earnings at ($0.03) EPS, Q4 2019 earnings at $0.39 EPS, FY2019 earnings at $0.43 EPS and FY2020 earnings at $1.39 EPS.
Several other analysts have also recently weighed in on the stock. BidaskClub cut shares of Scientific Games from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. Jefferies Financial Group cut shares of Scientific Games from a “buy” rating to a “hold” rating and set a $22.00 target price on the stock. in a report on Friday, November 16th. Deutsche Bank reaffirmed a “hold” rating and issued a $26.00 target price on shares of Scientific Games in a report on Monday, December 17th. Susquehanna Bancshares started coverage on shares of Scientific Games in a report on Friday, December 7th. They issued a “positive” rating and a $25.00 target price on the stock. Finally, ValuEngine raised shares of Scientific Games from a “sell” rating to a “hold” rating in a report on Thursday, November 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $40.67.
Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.14) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The business had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $828.92 million. During the same period in the previous year, the business posted ($0.66) EPS. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year.
In related news, Director Ronald O. Perelman acquired 300,000 shares of the business’s stock in a transaction on Friday, December 27th. The shares were bought at an average price of $16.93 per share, with a total value of $5,079,000.00. Following the completion of the acquisition, the director now owns 88,032 shares in the company, valued at $1,490,381.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronald O. Perelman acquired 200,000 shares of the business’s stock in a transaction on Monday, December 24th. The shares were bought at an average cost of $16.20 per share, for a total transaction of $3,240,000.00. Following the acquisition, the director now owns 88,032 shares of the company’s stock, valued at approximately $1,426,118.40. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 900,000 shares of company stock worth $14,921,000. 40.48% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in Scientific Games during the second quarter worth approximately $140,000. Cerebellum GP LLC increased its holdings in shares of Scientific Games by 125.9% in the 3rd quarter. Cerebellum GP LLC now owns 5,565 shares of the technology company’s stock valued at $141,000 after acquiring an additional 3,101 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Scientific Games by 1,643.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,520 shares of the technology company’s stock valued at $166,000 after acquiring an additional 6,146 shares during the period. Alps Advisors Inc. acquired a new position in shares of Scientific Games in the 2nd quarter valued at $208,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Scientific Games in the 3rd quarter valued at $285,000. 66.20% of the stock is currently owned by institutional investors.
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.
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