Scientific Games Co. (NASDAQ:SGMS) Expected to Post Quarterly Sales of $821.75 Million

Wall Street brokerages predict that Scientific Games Co. (NASDAQ:SGMS) will announce sales of $821.75 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Scientific Games’ earnings. The lowest sales estimate is $810.80 million and the highest is $846.30 million. Scientific Games posted sales of $698.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.7%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, November 9th.

On average, analysts expect that Scientific Games will report full year sales of $3.30 billion for the current financial year, with estimates ranging from $3.27 billion to $3.32 billion. For the next financial year, analysts forecast that the company will report sales of $3.60 billion, with estimates ranging from $3.57 billion to $3.66 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Scientific Games.

Scientific Games (NASDAQ:SGMS) last announced its quarterly earnings data on Monday, August 9th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $1.01. The firm had revenue of $880.00 million during the quarter, compared to the consensus estimate of $771.73 million. During the same period last year, the company earned ($2.15) EPS. The firm’s revenue for the quarter was up 63.3% compared to the same quarter last year.

Several brokerages recently issued reports on SGMS. Stifel Nicolaus increased their price objective on Scientific Games from $66.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, June 30th. Deutsche Bank Aktiengesellschaft increased their target price on Scientific Games from $54.00 to $63.00 and gave the company a “hold” rating in a research report on Tuesday, August 10th. Truist increased their target price on Scientific Games from $68.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 1st. Jefferies Financial Group increased their target price on Scientific Games from $62.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, June 30th. Finally, Craig Hallum increased their target price on Scientific Games from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Friday, September 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $76.09.

Shares of NASDAQ:SGMS opened at $85.51 on Friday. Scientific Games has a 52-week low of $30.11 and a 52-week high of $89.16. The stock has a market cap of $8.24 billion, a P/E ratio of -68.96 and a beta of 2.06. The business’s 50 day moving average is $75.68 and its 200 day moving average is $67.66.

Hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its stake in shares of Scientific Games by 1.3% during the 2nd quarter. American Century Companies Inc. now owns 12,968 shares of the technology company’s stock valued at $1,004,000 after buying an additional 170 shares during the last quarter. Texas Permanent School Fund raised its stake in shares of Scientific Games by 0.5% during the 2nd quarter. Texas Permanent School Fund now owns 42,244 shares of the technology company’s stock valued at $3,271,000 after buying an additional 198 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Scientific Games by 0.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 33,100 shares of the technology company’s stock valued at $2,750,000 after buying an additional 300 shares during the last quarter. Hotaling Investment Management LLC raised its stake in shares of Scientific Games by 1.6% during the 3rd quarter. Hotaling Investment Management LLC now owns 20,983 shares of the technology company’s stock valued at $1,743,000 after buying an additional 333 shares during the last quarter. Finally, IFP Advisors Inc raised its stake in shares of Scientific Games by 422.5% during the 2nd quarter. IFP Advisors Inc now owns 465 shares of the technology company’s stock valued at $36,000 after buying an additional 376 shares during the last quarter. Institutional investors 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.

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