Scientific Games (NASDAQ:SGMS) Sets New 52-Week High at $33.86

Scientific Games Corp (NASDAQ:SGMS)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $33.86 and last traded at $33.36, with a volume of 43994 shares trading hands. The stock had previously closed at $30.31.

A number of research firms have weighed in on SGMS. Craig Hallum restated a “buy” rating on shares of Scientific Games in a research note on Friday, June 12th. ValuEngine lowered shares of Scientific Games from a “buy” rating to a “hold” rating in a research note on Tuesday, September 1st. BidaskClub upgraded shares of Scientific Games from a “hold” rating to a “buy” rating in a research note on Friday, August 7th. Zacks Investment Research upgraded shares of Scientific Games from a “strong sell” rating to a “hold” rating and set a $13.00 price target for the company in a research note on Tuesday, June 16th. Finally, SunTrust Banks lifted their price target on shares of Scientific Games from $15.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.00.

The company has a market cap of $2.87 billion, a PE ratio of -7.98 and a beta of 2.44. The business’s fifty day moving average is $19.85 and its 200-day moving average is $14.86.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings data on Thursday, July 23rd. The technology company reported ($1.79) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.91) by $0.12. The company had revenue of $539.00 million for the quarter, compared to the consensus estimate of $462.99 million. Scientific Games had a negative net margin of 13.11% and a negative return on equity of 0.53%. As a group, equities analysts expect that Scientific Games Corp will post -3.41 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in Scientific Games by 69.0% during the second quarter. PNC Financial Services Group Inc. now owns 1,611 shares of the technology company’s stock valued at $25,000 after purchasing an additional 658 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Scientific Games during the first quarter valued at approximately $36,000. Strs Ohio purchased a new position in Scientific Games during the second quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Scientific Games by 58.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,165 shares of the technology company’s stock valued at $80,000 after purchasing an additional 1,909 shares in the last quarter. Finally, Bogle Investment Management L P DE purchased a new position in Scientific Games during the first quarter valued at approximately $123,000. 59.49% of the stock is currently owned by institutional investors and hedge funds.

About Scientific Games (NASDAQ:SGMS)

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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