Scientific Games (SGMS) Lowered to Strong Sell at BidaskClub

Scientific Games (NASDAQ:SGMS) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Wednesday, March 27th, BidAskClub reports.

A number of other research analysts have also recently commented on the stock. Deutsche Bank reissued a “hold” rating and set a $26.00 target price on shares of Scientific Games in a research report on Monday, December 17th. Zacks Investment Research cut shares of Scientific Games from a “hold” rating to a “sell” rating in a research report on Monday, January 14th. Susquehanna Bancshares started coverage on shares of Scientific Games in a research report on Friday, December 7th. They set a “positive” rating and a $25.00 target price on the stock. Jefferies Financial Group set a $22.00 target price on shares of Scientific Games and gave the stock a “hold” rating in a research report on Friday, December 14th. Finally, ValuEngine cut shares of Scientific Games from a “hold” rating to a “sell” rating in a research report on Thursday, March 7th. Three analysts have rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $37.88.

SGMS stock traded up $0.30 during midday trading on Wednesday, reaching $22.68. 1,674,199 shares of the company’s stock traded hands, compared to its average volume of 1,441,819. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -42.00, a price-to-earnings-growth ratio of 4.74 and a beta of 2.31. Scientific Games has a fifty-two week low of $14.79 and a fifty-two week high of $62.80.

Scientific Games (NASDAQ:SGMS) last announced its quarterly earnings results on Thursday, February 21st. The technology company reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $2.11. The business had revenue of $885.70 million for the quarter, compared to analyst estimates of $871.92 million. During the same period last year, the firm earned ($0.48) earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Scientific Games will post 0.48 earnings per share for the current fiscal year.

Several large investors have recently modified their holdings of SGMS. Whale Rock Capital Management LLC increased its stake in shares of Scientific Games by 30.9% in the fourth quarter. Whale Rock Capital Management LLC now owns 3,415,894 shares of the technology company’s stock worth $61,076,000 after buying an additional 806,935 shares during the last quarter. FMR LLC increased its stake in shares of Scientific Games by 34.8% in the third quarter. FMR LLC now owns 2,451,221 shares of the technology company’s stock worth $62,262,000 after buying an additional 632,380 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Scientific Games by 172.9% in the third quarter. Deutsche Bank AG now owns 825,459 shares of the technology company’s stock worth $20,966,000 after buying an additional 522,968 shares during the last quarter. Morgan Stanley increased its stake in shares of Scientific Games by 168.8% in the third quarter. Morgan Stanley now owns 539,907 shares of the technology company’s stock worth $13,715,000 after buying an additional 339,059 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Scientific Games in the fourth quarter worth $6,008,000. Institutional investors and hedge funds own 68.67% of the company’s stock.

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.

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Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

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