Glu Mobile Inc. (GLUU) Expected to Post Earnings of $0.05 Per Share

Wall Street brokerages expect Glu Mobile Inc. (NASDAQ:GLUU) to report $0.05 earnings per share (EPS) for the current quarter, according to Zacks. Four analysts have issued estimates for Glu Mobile’s earnings, with the lowest EPS estimate coming in at $0.04 and the highest estimate coming in at $0.06. Glu Mobile reported earnings of $0.03 per share during the same quarter last year, which indicates a positive year over year growth rate of 66.7%. The firm is expected to report its next earnings results on Tuesday, May 7th.

On average, analysts expect that Glu Mobile will report full year earnings of $0.33 per share for the current fiscal year, with EPS estimates ranging from $0.22 to $0.37. For the next year, analysts expect that the firm will post earnings of $0.46 per share, with EPS estimates ranging from $0.34 to $0.55. Zacks’ EPS calculations are an average based on a survey of research analysts that that provide coverage for Glu Mobile.

GLUU has been the topic of several analyst reports. BidaskClub lowered Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 25th. Zacks Investment Research upgraded Glu Mobile from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research note on Wednesday, February 6th. Wedbush reiterated a “hold” rating and issued a $9.00 target price on shares of Glu Mobile in a research note on Wednesday, January 30th. Cowen lifted their target price on Glu Mobile to $9.50 and gave the company an “outperform” rating in a research note on Monday, December 10th. Finally, Stephens initiated coverage on Glu Mobile in a research note on Thursday, January 10th. They issued an “overweight” rating and a $10.50 target price on the stock. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $9.31.

GLUU opened at $10.94 on Friday. Glu Mobile has a 1 year low of $3.58 and a 1 year high of $11.46. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -136.75, a P/E/G ratio of 3.99 and a beta of 0.73.

In related news, Director Hany Nada sold 50,000 shares of Glu Mobile stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $9.18, for a total transaction of $459,000.00. Following the completion of the sale, the director now owns 240,200 shares of the company’s stock, valued at $2,205,036. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.80% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Glu Mobile by 9.9% in the third quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock valued at $80,407,000 after acquiring an additional 975,586 shares during the period. Vanguard Group Inc raised its stake in shares of Glu Mobile by 9.9% during the 3rd quarter. Vanguard Group Inc now owns 10,792,797 shares of the company’s stock worth $80,407,000 after buying an additional 975,586 shares during the period. BlackRock Inc. raised its stake in shares of Glu Mobile by 1.2% during the 4th quarter. BlackRock Inc. now owns 7,694,965 shares of the company’s stock worth $62,097,000 after buying an additional 92,914 shares during the period. MARSHALL WACE ASIA Ltd raised its stake in shares of Glu Mobile by 34.8% during the 3rd quarter. MARSHALL WACE ASIA Ltd now owns 4,555,849 shares of the company’s stock worth $33,941,000 after buying an additional 1,176,427 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Glu Mobile by 14,199.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,191,293 shares of the company’s stock worth $23,774,000 after buying an additional 3,168,975 shares during the period. 56.56% of the stock is owned by institutional investors.

About Glu Mobile

Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.

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Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

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