Scientific Games Corp (NASDAQ:SGMS) – Equities research analysts at Jefferies Financial Group issued their Q3 2021 earnings per share estimates for Scientific Games in a report issued on Monday, September 14th. Jefferies Financial Group analyst D. Katz anticipates that the technology company will post earnings of $0.19 per share for the quarter. Jefferies Financial Group also issued estimates for Scientific Games’ Q4 2021 earnings at $0.22 EPS and FY2022 earnings at $1.19 EPS.
SGMS has been the subject of several other reports. SunTrust Banks increased their price objective on shares of Scientific Games from $15.00 to $30.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Zacks Investment Research raised shares of Scientific Games from a “strong sell” rating to a “hold” rating and set a $13.00 price objective for the company in a research report on Tuesday, June 16th. BidaskClub raised shares of Scientific Games from a “hold” rating to a “buy” rating in a research report on Friday, August 7th. ValuEngine lowered shares of Scientific Games from a “buy” rating to a “hold” rating in a research report on Tuesday, September 1st. Finally, Craig Hallum reaffirmed a “buy” rating on shares of Scientific Games in a research report on Friday, June 12th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $27.00.
Shares of Scientific Games stock opened at $30.90 on Tuesday. The firm has a market capitalization of $2.93 billion, a P/E ratio of -7.45 and a beta of 2.44. The company has a 50 day moving average price of $20.11 and a 200 day moving average price of $14.91. Scientific Games has a 52 week low of $3.76 and a 52 week high of $33.86.
Scientific Games (NASDAQ:SGMS) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported ($1.79) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.91) by $0.12. Scientific Games had a negative net margin of 13.11% and a negative return on equity of 0.53%. The business had revenue of $539.00 million for the quarter, compared to analysts’ expectations of $462.99 million.
In other Scientific Games news, Chairman Ronald O. Perelman sold 9,375,806 shares of the firm’s 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 completion of the transaction, the chairman now directly 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 is accessible through this link. Company insiders own 40.30% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SGMS. Morgan Stanley grew its stake in shares of Scientific Games by 747.2% during the 1st quarter. Morgan Stanley now owns 3,040,860 shares of the technology company’s stock worth $29,497,000 after purchasing an additional 2,681,942 shares during the period. Bank of America Corp DE grew its stake in shares of Scientific Games by 8,147.1% during the 2nd quarter. Bank of America Corp DE now owns 1,334,957 shares of the technology company’s stock worth $20,639,000 after purchasing an additional 1,318,770 shares during the period. Neuberger Berman Group LLC grew its stake in shares of Scientific Games by 817.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 639,611 shares of the technology company’s stock worth $9,888,000 after purchasing an additional 569,911 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Scientific Games by 284.0% during the 1st quarter. Russell Investments Group Ltd. now owns 469,599 shares of the technology company’s stock worth $4,514,000 after purchasing an additional 347,322 shares during the period. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Scientific Games during the 2nd quarter worth approximately $3,697,000. 59.49% of the stock is currently owned by institutional investors and hedge funds.
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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