Scientific Games Corp (NASDAQ:SGMS) Receives $24.20 Consensus Target Price from Analysts

Scientific Games Corp (NASDAQ:SGMS) has earned a consensus rating of “Hold” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $24.20.

Several brokerages recently weighed in on SGMS. ValuEngine upgraded Scientific Games from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. BidaskClub lowered Scientific Games from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd.

In other news, Director Ronald O. Perelman acquired 50,000 shares of the stock in a transaction that occurred on Monday, September 30th. The shares were bought at an average cost of $20.42 per share, for a total transaction of $1,021,000.00. Following the acquisition, the director now owns 9,074 shares in the company, valued at approximately $185,291.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard M. Haddrill sold 45,681 shares of Scientific Games stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $23.94, for a total value of $1,093,603.14. Following the completion of the sale, the director now owns 225,957 shares in the company, valued at $5,409,410.58. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 350,000 shares of company stock valued at $7,643,000. 40.60% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of SGMS. Park West Asset Management LLC acquired a new stake in Scientific Games in the 2nd quarter worth about $29,973,000. Nuveen Asset Management LLC acquired a new stake in Scientific Games in the 2nd quarter worth about $17,576,000. Intrinsic Edge Capital Management LLC acquired a new stake in Scientific Games in the 2nd quarter worth about $14,619,000. BlackRock Inc. boosted its holdings in Scientific Games by 8.1% in the 2nd quarter. BlackRock Inc. now owns 6,876,116 shares of the technology company’s stock worth $136,284,000 after buying an additional 515,519 shares during the last quarter. Finally, Panagora Asset Management Inc. boosted its holdings in Scientific Games by 752.9% in the 2nd quarter. Panagora Asset Management Inc. now owns 475,765 shares of the technology company’s stock worth $9,430,000 after buying an additional 419,985 shares during the last quarter. Institutional investors own 64.49% of the company’s stock.

Shares of NASDAQ SGMS traded up $1.89 during trading on Thursday, reaching $22.35. 1,327,493 shares of the company traded hands, compared to its average volume of 976,672. The firm’s fifty day simple moving average is $20.36 and its 200 day simple moving average is $20.20. The stock has a market cap of $1.91 billion, a P/E ratio of -41.38 and a beta of 2.23. Scientific Games has a 12-month low of $14.79 and a 12-month high of $29.95.

Scientific Games (NASDAQ:SGMS) last released its quarterly earnings data on Thursday, August 1st. The technology company reported ($0.09) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.11). Scientific Games had a negative net margin of 7.25% and a negative return on equity of 0.52%. The company had revenue of $845.00 million for the quarter, compared to analysts’ expectations of $859.67 million. As a group, equities analysts expect that Scientific Games will post -0.88 earnings per share for the current fiscal year.

Scientific Games Company Profile

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.

Read More: Index Funds

Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

Receive News & Ratings for Scientific Games Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scientific Games and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit