Scientific Games Corp (NASDAQ:SGMS) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS

Scientific Games Corp (NASDAQ:SGMS) released its earnings results on Monday, July 24th. The technology company reported ($0.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.52) by $0.08, MarketWatch Earnings reports. The company had revenue of $766.30 million for the quarter, compared to the consensus estimate of $732.93 million. During the same quarter in the previous year, the company posted ($0.59) EPS. The business’s revenue was up 5.1% on a year-over-year basis.

Shares of Scientific Games Corp (SGMS) traded down 0.44% during midday trading on Friday, reaching $34.15. The company had a trading volume of 992,390 shares. The company has a 50 day moving average price of $31.66 and a 200-day moving average price of $24.83. Scientific Games Corp has a one year low of $8.07 and a one year high of $39.25. The firm’s market capitalization is $3.05 billion.

In other Scientific Games Corp news, EVP James C. Kennedy sold 122,681 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $37.14, for a total transaction of $4,556,372.34. Following the sale, the executive vice president now owns 186,363 shares of the company’s stock, valued at approximately $6,921,521.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Gavin Isaacs sold 68,036 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $38.85, for a total transaction of $2,643,198.60. Following the sale, the director now directly owns 110,815 shares in the company, valued at approximately $4,305,162.75. The disclosure for this sale can be found here. Insiders sold a total of 192,850 shares of company stock worth $7,281,691 in the last ninety days. 42.03% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the stock. Piedmont Investment Advisors LLC acquired a new stake in shares of Scientific Games Corp during the second quarter worth about $291,000. Ameritas Investment Partners Inc. raised its position in Scientific Games Corp by 13.5% in the second quarter. Ameritas Investment Partners Inc. now owns 4,673 shares of the technology company’s stock worth $122,000 after buying an additional 556 shares during the period. Private Advisory Group LLC raised its position in Scientific Games Corp by 17.8% in the second quarter. Private Advisory Group LLC now owns 16,041 shares of the technology company’s stock worth $419,000 after buying an additional 2,421 shares during the period. The Manufacturers Life Insurance Company raised its position in Scientific Games Corp by 3.0% in the second quarter. The Manufacturers Life Insurance Company now owns 42,638 shares of the technology company’s stock worth $1,113,000 after buying an additional 1,227 shares during the period. Finally, Sylebra HK Co Ltd raised its position in Scientific Games Corp by 0.4% in the second quarter. Sylebra HK Co Ltd now owns 8,619,044 shares of the technology company’s stock worth $224,957,000 after buying an additional 36,275 shares during the period. 60.11% of the stock is currently owned by institutional investors and hedge funds.

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Several analysts have issued reports on SGMS shares. Zacks Investment Research lowered Scientific Games Corp from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Stifel Nicolaus upped their price objective on Scientific Games Corp from $24.00 to $35.00 and gave the company a “hold” rating in a research note on Tuesday, July 25th. BidaskClub lowered Scientific Games Corp from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 5th. ValuEngine upgraded Scientific Games Corp from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Telsey Advisory Group upped their target price on Scientific Games Corp from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Friday, April 28th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Scientific Games Corp presently has a consensus rating of “Hold” and an average target price of $30.00.

Scientific Games Corp Company Profile

Scientific Games Corporation is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. Its segments include Gaming, Lottery and Interactive. Its portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions.

Earnings History for Scientific Games Corp (NASDAQ:SGMS)

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