Equities analysts expect that Glu Mobile Inc. (NASDAQ:GLUU) will report earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Glu Mobile’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.06. Glu Mobile reported earnings per share of ($0.13) during the same quarter last year, which would indicate a positive year-over-year growth rate of 138.5%. The company is expected to announce its next earnings report on Tuesday, August 7th.
On average, analysts expect that Glu Mobile will report full year earnings of $0.22 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.26. For the next fiscal year, analysts anticipate that the company will report earnings of $0.32 per share, with EPS estimates ranging from $0.22 to $0.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Glu Mobile.
Glu Mobile (NASDAQ:GLUU) last announced its quarterly earnings data on Tuesday, May 1st. The company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.02 by $0.02. The business had revenue of $81.44 million during the quarter, compared to analyst estimates of $73.20 million. Glu Mobile had a negative return on equity of 34.72% and a negative net margin of 26.33%. The company’s revenue for the quarter was up 43.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.17) earnings per share.
Several brokerages have commented on GLUU. Stifel Nicolaus raised their price objective on Glu Mobile from $5.50 to $6.50 and gave the company a “buy” rating in a research report on Tuesday. Zacks Investment Research lowered Glu Mobile from a “buy” rating to a “hold” rating in a research report on Friday, May 11th. Benchmark raised their price objective on Glu Mobile from $6.00 to $7.00 and gave the company a “buy” rating in a research report on Wednesday, May 2nd. ValuEngine upgraded Glu Mobile from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, BidaskClub upgraded Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 1st. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $4.86.
In other news, insider Masi Niccolo De sold 134,785 shares of the firm’s stock in a transaction on Thursday, May 3rd. The stock was sold at an average price of $4.81, for a total transaction of $648,315.85. Following the completion of the transaction, the insider now directly owns 524,755 shares in the company, valued at $2,524,071.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Chris Akhavan sold 5,100 shares of the firm’s stock in a transaction on Thursday, May 10th. The shares were sold at an average price of $5.50, for a total value of $28,050.00. Following the transaction, the executive now owns 161,624 shares of the company’s stock, valued at $888,932. The disclosure for this sale can be found here. Insiders have sold 665,936 shares of company stock valued at $3,411,146 over the last 90 days. Corporate insiders own 5.80% of the company’s stock.
Several large investors have recently modified their holdings of GLUU. Wells Fargo & Company MN increased its holdings in shares of Glu Mobile by 66.3% during the third quarter. Wells Fargo & Company MN now owns 109,665 shares of the company’s stock valued at $412,000 after acquiring an additional 43,735 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Glu Mobile by 192.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,098,454 shares of the company’s stock worth $4,130,000 after buying an additional 722,564 shares in the last quarter. Strs Ohio bought a new stake in Glu Mobile in the 4th quarter worth about $584,000. Alambic Investment Management L.P. increased its holdings in Glu Mobile by 1,784.4% in the 4th quarter. Alambic Investment Management L.P. now owns 403,262 shares of the company’s stock worth $1,468,000 after buying an additional 381,862 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Glu Mobile in the 4th quarter worth about $139,000. Hedge funds and other institutional investors own 45.91% of the company’s stock.
Glu Mobile stock traded up $0.07 on Friday, hitting $5.67. 2,565,600 shares of the stock traded hands, compared to its average volume of 2,152,915. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $830.98 million, a P/E ratio of -11.16, a P/E/G ratio of 7.44 and a beta of 1.46. Glu Mobile has a 1 year low of $2.42 and a 1 year high of $6.06.
About Glu Mobile
Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.
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