Scientific Games Corp (NASDAQ:SGMS) – Research analysts at Jefferies Financial Group increased their Q3 2020 earnings estimates for Scientific Games in a research note issued on Monday, September 14th. Jefferies Financial Group analyst D. Katz now forecasts that the technology company will earn ($0.70) per share for the quarter, up from their previous forecast of ($0.77). Jefferies Financial Group also issued estimates for Scientific Games’ Q4 2020 earnings at ($0.47) EPS, FY2020 earnings at ($3.35) EPS, Q1 2021 earnings at $0.20 EPS, Q2 2021 earnings at ($0.24) EPS and FY2021 earnings at $0.38 EPS.
Several other equities research analysts have also recently weighed in on SGMS. Craig Hallum restated a “buy” rating on shares of Scientific Games in a research report on Friday, June 12th. BidaskClub raised shares of Scientific Games from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. ValuEngine lowered shares of Scientific Games from a “buy” rating to a “hold” rating in a research note on Tuesday, September 1st. Deutsche Bank raised their target price on shares of Scientific Games from $8.00 to $16.00 and gave the company a “hold” rating in a research note on Monday, July 27th. Finally, Zacks Investment Research raised shares of Scientific Games from a “strong sell” rating to a “hold” rating and set a $13.00 target price on the stock in a research note on Tuesday, June 16th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $27.00.
SGMS opened at $30.90 on Wednesday. The stock has a market capitalization of $2.93 billion, a PE ratio of -7.45 and a beta of 2.44. Scientific Games has a 1-year low of $3.76 and a 1-year high of $33.86. The firm has a 50-day moving average price of $20.11 and a two-hundred day moving average price of $14.91.
Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported ($1.79) earnings per share for the quarter, beating the consensus estimate of ($1.91) by $0.12. The firm had revenue of $539.00 million during the quarter, compared to analysts’ expectations of $462.99 million. Scientific Games had a negative net margin of 13.11% and a negative return on equity of 0.53%.
A number of institutional investors have recently added to or reduced their stakes in SGMS. PNC Financial Services Group Inc. boosted its stake in Scientific Games by 69.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,611 shares of the technology company’s stock worth $25,000 after acquiring an additional 658 shares during the last quarter. Advisor Group Holdings Inc. bought a new position in Scientific Games in the first quarter valued at approximately $36,000. Strs Ohio bought a new position in Scientific Games in the second quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Scientific Games by 58.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,165 shares of the technology company’s stock valued at $80,000 after buying an additional 1,909 shares in the last quarter. Finally, Bogle Investment Management L P DE bought a new position in Scientific Games in the first quarter valued at approximately $123,000. 59.49% of the stock is currently owned by institutional investors and hedge funds.
In related news, Chairman Ronald O. Perelman sold 9,375,806 shares of Scientific Games stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $28.00, for a total transaction of $262,522,568.00. Following the transaction, the chairman now owns 17,104 shares of the company’s stock, valued at approximately $478,912. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 40.30% of the stock is owned by company insiders.
About Scientific Games
Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and digital gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, 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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