Brokerages Anticipate Scientific Games Co. (NASDAQ:SGMS) Will Announce Quarterly Sales of $834.52 Million

Brokerages predict that Scientific Games Co. (NASDAQ:SGMS) will announce $834.52 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Scientific Games’ earnings. The highest sales estimate is $851.86 million and the lowest is $813.84 million. Scientific Games reported sales of $698.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The firm is scheduled to report its next earnings report on Wednesday, November 3rd.

On average, analysts expect that Scientific Games will report full year sales of $3.30 billion for the current fiscal year, with estimates ranging from $3.23 billion to $3.34 billion. For the next year, analysts anticipate that the business will post sales of $3.61 billion, with estimates ranging from $3.57 billion to $3.66 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Scientific Games.

Scientific Games (NASDAQ:SGMS) last issued its earnings results on Monday, August 9th. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $1.01. The firm had revenue of $880.00 million for the quarter, compared to analyst estimates of $771.73 million. The business’s revenue for the quarter was up 63.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($2.15) EPS.

A number of brokerages recently commented on SGMS. Jefferies Financial Group boosted their target price on shares of Scientific Games from $62.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, June 30th. Zacks Investment Research downgraded shares of Scientific Games from a “buy” rating to a “hold” rating and set a $71.00 price objective for the company. in a research note on Wednesday, August 11th. Stifel Nicolaus upped their price objective on shares of Scientific Games from $66.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, June 30th. Truist upped their price objective on shares of Scientific Games from $68.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 1st. Finally, Craig Hallum upped their price objective on shares of Scientific Games from $92.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday, August 10th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $69.36.

Shares of SGMS stock traded up $3.60 on Wednesday, reaching $77.33. 1,037,809 shares of the stock were exchanged, compared to its average volume of 920,089. The business’s 50 day moving average price is $68.49 and its 200 day moving average price is $62.33. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of -62.71 and a beta of 2.06. Scientific Games has a twelve month low of $29.54 and a twelve month high of $81.00.

Institutional investors and hedge funds have recently made changes to their positions in the company. IFP Advisors Inc boosted its stake in shares of Scientific Games by 422.5% during the second quarter. IFP Advisors Inc now owns 465 shares of the technology company’s stock worth $36,000 after buying an additional 376 shares during the period. Cypress Point Wealth Management LLC purchased a new position in Scientific Games during the second quarter worth about $39,000. FORA Capital LLC purchased a new position in Scientific Games during the second quarter worth about $46,000. Advisory Services Network LLC purchased a new position in Scientific Games during the second quarter worth about $46,000. Finally, Point72 Hong Kong Ltd purchased a new position in Scientific Games during the first quarter worth about $34,000. Institutional investors and hedge funds own 85.30% of the company’s stock.

About Scientific Games

Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay, and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.

Read More: How do investors use RSI to grade stocks?

Get a free copy of the Zacks research report on Scientific Games (SGMS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.