May 18, 2022

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Zacks: Brokerages Anticipate Scientific Games Co. (NASDAQ:SGMS) Will Announce Earnings of -$0.32 Per Share

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Analysts expect Scientific Games Co. (NASDAQ:SGMSGet Rating) to announce ($0.32) earnings per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Scientific Games’ earnings. The highest EPS estimate is ($0.31) and the lowest is ($0.33). Scientific Games posted earnings of ($0.16) per share in the same quarter last year, which suggests a negative year over year growth rate of 100%. The firm is expected to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Scientific Games will report full-year earnings of $0.51 per share for the current year, with EPS estimates ranging from $0.24 to $0.77. For the next financial year, analysts expect that the company will report earnings of $2.28 per share, with EPS estimates ranging from $1.75 to $3.00. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that that provide coverage for Scientific Games.

Scientific Games (NASDAQ:SGMSGet Rating) last announced its quarterly earnings results on Tuesday, March 1st. The technology company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.94. The firm had revenue of $580.00 million during the quarter, compared to analysts’ expectations of $558.79 million. Scientific Games had a net margin of 13.60% and a negative return on equity of 10.75%. The firm’s revenue was up 20.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.59) EPS.

SGMS has been the topic of a number of recent analyst reports. Truist Financial cut their price target on Scientific Games from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, January 13th. Susquehanna Bancshares raised their target price on shares of Scientific Games from $13.00 to $55.00 in a research note on Friday, March 11th. StockNews.com began coverage on Scientific Games in a research report on Thursday. They issued a “hold” rating for the company. Susquehanna raised their target price on Scientific Games from $13.00 to $55.00 and gave the company a “neutral” rating in a research note on Friday, March 11th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Scientific Games from $71.00 to $67.00 and set a “hold” rating for the company in a research note on Wednesday, March 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Scientific Games has a consensus rating of “Hold” and a consensus price target of $76.64.

In other news, Director Hamish Mclennan bought 6,500 shares of the business’s stock in a transaction on Wednesday, March 9th. The shares were bought at an average cost of $58.03 per share, with a total value of $377,195.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Scientific Games by 7.5% during the fourth quarter. BlackRock Inc. now owns 10,186,006 shares of the technology company’s stock worth $680,730,000 after purchasing an additional 714,287 shares during the period. Fine Capital Partners L.P. boosted its stake in shares of Scientific Games by 3.9% during the 4th quarter. Fine Capital Partners L.P. now owns 9,354,622 shares of the technology company’s stock valued at $625,169,000 after buying an additional 355,000 shares during the period. Caledonia Private Investments Pty Ltd grew its holdings in shares of Scientific Games by 0.3% during the 3rd quarter. Caledonia Private Investments Pty Ltd now owns 9,296,876 shares of the technology company’s stock valued at $772,291,000 after acquiring an additional 32,143 shares in the last quarter. Morgan Stanley increased its stake in shares of Scientific Games by 0.5% in the second quarter. Morgan Stanley now owns 2,970,004 shares of the technology company’s stock worth $229,996,000 after acquiring an additional 14,425 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Scientific Games by 2.4% during the fourth quarter. State Street Corp now owns 2,870,556 shares of the technology company’s stock worth $191,839,000 after acquiring an additional 67,718 shares in the last quarter. Institutional investors own 93.19% of the company’s stock.

SGMS opened at $60.57 on Thursday. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 16.24 and a beta of 1.88. The company’s 50-day moving average price is $60.11 and its 200 day moving average price is $67.73. Scientific Games has a fifty-two week low of $36.89 and a fifty-two week high of $90.20.

Scientific Games Company Profile (Get Rating)

Scientific Games Corporation, doing business as Light & Wonder Inc, develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally. The company’s Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to proprietary table games.

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