Zacks: Brokerages Expect Glu Mobile Inc. (NASDAQ:GLUU) Will Announce Quarterly Sales of $103.20 Million

Wall Street brokerages forecast that Glu Mobile Inc. (NASDAQ:GLUU) will announce sales of $103.20 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Glu Mobile’s earnings. The highest sales estimate is $105.00 million and the lowest is $102.50 million. Glu Mobile reported sales of $98.20 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.1%. The business is expected to issue its next quarterly earnings report on Monday, February 3rd.

On average, analysts expect that Glu Mobile will report full year sales of $418.09 million for the current fiscal year, with estimates ranging from $417.40 million to $419.88 million. For the next year, analysts expect that the company will report sales of $455.00 million, with estimates ranging from $427.80 million to $485.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.13). The business had revenue of $120.40 million for the quarter, compared to analysts’ expectations of $111.00 million. Glu Mobile had a negative net margin of 0.82% and a positive return on equity of 0.22%. Glu Mobile’s revenue for the quarter was up 19.6% compared to the same quarter last year.

Several research firms have issued reports on GLUU. Roth Capital raised shares of Glu Mobile from a “neutral” rating to a “buy” rating and set a $7.00 price target on the stock in a report on Wednesday, September 11th. Stephens set a $8.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a report on Friday, September 6th. Piper Jaffray Companies reiterated an “overweight” rating and set a $6.50 price objective on shares of Glu Mobile in a research note on Tuesday, September 24th. DA Davidson initiated coverage on shares of Glu Mobile in a research note on Tuesday, September 24th. They set a “buy” rating and a $8.00 price objective for the company. Finally, BidaskClub downgraded shares of Glu Mobile from a “hold” rating to a “sell” rating in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $7.25.

GLUU stock traded down $0.26 during trading on Friday, hitting $5.58. 73,574 shares of the company’s stock traded hands, compared to its average volume of 2,907,060. The business has a fifty day simple moving average of $5.67 and a two-hundred day simple moving average of $6.03. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.21. Glu Mobile has a 1 year low of $4.11 and a 1 year high of $11.75. The firm has a market capitalization of $866.72 million, a P/E ratio of -70.19, a PEG ratio of 2.57 and a beta of 1.13.

In related news, Director Greg Brandeau sold 12,498 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $6.00, for a total transaction of $74,988.00. Following the completion of the transaction, the director now directly owns 29,166 shares in the company, valued at $174,996. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Eric R. Ludwig sold 20,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $5.75, for a total transaction of $115,000.00. Following the transaction, the chief financial officer now owns 77,938 shares of the company’s stock, valued at $448,143.50. The disclosure for this sale can be found here. Insiders own 6.84% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Glu Mobile by 4.2% in the second quarter. Vanguard Group Inc. now owns 9,835,104 shares of the company’s stock valued at $70,617,000 after buying an additional 391,907 shares in the last quarter. DNB Asset Management AS purchased a new stake in shares of Glu Mobile during the third quarter worth about $17,010,000. Highline Capital Management L.P. purchased a new stake in shares of Glu Mobile during the second quarter worth about $22,276,000. Emerald Advisers LLC increased its stake in shares of Glu Mobile by 15.9% during the second quarter. Emerald Advisers LLC now owns 2,733,514 shares of the company’s stock worth $19,627,000 after purchasing an additional 374,859 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust increased its stake in shares of Glu Mobile by 16.5% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 2,493,485 shares of the company’s stock worth $17,903,000 after purchasing an additional 353,391 shares in the last quarter. 64.71% 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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