Scientific Games Corp (SGMS) Expected to Post Quarterly Sales of $808.53 Million

Analysts predict that Scientific Games Corp (NASDAQ:SGMS) will post sales of $808.53 million for the current quarter, according to Zacks. Three analysts have issued estimates for Scientific Games’ earnings. The highest sales estimate is $818.69 million and the lowest is $800.80 million. Scientific Games posted sales of $752.20 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7.5%. The firm is expected to report its next earnings report on Thursday, March 1st.

On average, analysts expect that Scientific Games will report full-year sales of $808.53 million for the current fiscal year, with estimates ranging from $3.06 billion to $3.08 billion. For the next year, analysts anticipate that the company will post sales of $3.27 billion per share, with estimates ranging from $3.20 billion to $3.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Scientific Games.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported ($0.66) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.44) by ($0.22). The company had revenue of $768.90 million for the quarter, compared to the consensus estimate of $748.56 million. During the same quarter in the previous year, the company posted ($1.13) EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year.

SGMS has been the topic of several research analyst reports. Craig Hallum reiterated a “buy” rating and issued a $56.00 target price (up previously from $45.00) on shares of Scientific Games in a research report on Thursday, October 5th. Stifel Nicolaus lifted their target price on shares of Scientific Games from $35.00 to $40.00 and gave the company a “hold” rating in a research report on Monday, September 18th. Finally, Bank of America reiterated a “buy” rating and issued a $50.00 target price (up previously from $38.00) on shares of Scientific Games in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $42.20.

Shares of Scientific Games (SGMS) opened at $53.15 on Monday. Scientific Games has a 52-week low of $13.65 and a 52-week high of $53.60. The company has a debt-to-equity ratio of -4.07, a quick ratio of 1.45 and a current ratio of 1.83.

In related news, Director David L. Kennedy sold 40,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $48.26, for a total transaction of $1,930,400.00. Following the transaction, the director now directly owns 63,551 shares in the company, valued at $3,066,971.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP James C. Kennedy sold 100,000 shares of the business’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $48.30, for a total transaction of $4,830,000.00. Following the transaction, the executive vice president now owns 105,029 shares in the company, valued at $5,072,900.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,384 shares of company stock worth $9,026,426. Company insiders own 40.61% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SGMS. Ameritas Investment Partners Inc. boosted its position in Scientific Games by 13.5% during the second quarter. Ameritas Investment Partners Inc. now owns 4,673 shares of the technology company’s stock worth $122,000 after acquiring an additional 556 shares during the last quarter. First Quadrant L P CA acquired a new position in Scientific Games during the third quarter worth about $139,000. LS Investment Advisors LLC boosted its position in Scientific Games by 42.2% during the third quarter. LS Investment Advisors LLC now owns 3,940 shares of the technology company’s stock worth $181,000 after acquiring an additional 1,170 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Scientific Games during the third quarter worth about $201,000. Finally, Bayesian Capital Management LP acquired a new position in Scientific Games during the second quarter worth about $209,000. Hedge funds and other institutional investors own 63.97% of the company’s stock.

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Scientific Games 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.

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