BidaskClub Lowers Scientific Games (NASDAQ:SGMS) to Buy

BidaskClub cut shares of Scientific Games (NASDAQ:SGMS) from a strong-buy rating to a buy rating in a report issued on Wednesday, BidAskClub reports.

Other analysts have also recently issued research reports about the stock. Truist raised their target price on shares of Scientific Games from $30.00 to $45.00 in a research note on Wednesday, October 14th. Zacks Investment Research cut shares of Scientific Games from a hold rating to a sell rating and set a $44.00 target price for the company. in a research note on Friday, December 11th. Stifel Nicolaus started coverage on shares of Scientific Games in a research note on Wednesday, December 9th. They issued a buy rating for the company. Craig Hallum raised their target price on shares of Scientific Games from $40.00 to $45.00 and gave the stock a buy rating in a research note on Thursday, November 5th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. raised their target price on shares of Scientific Games from $18.00 to $30.00 and gave the stock a neutral rating in a research note on Thursday, November 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Buy and an average target price of $37.33.

Shares of NASDAQ:SGMS opened at $41.49 on Wednesday. The stock has a market cap of $3.95 billion, a P/E ratio of -10.00 and a beta of 2.09. The firm has a fifty day moving average price of $39.19 and a 200 day moving average price of $28.01. Scientific Games has a 1-year low of $3.76 and a 1-year high of $43.87.

Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings results on Wednesday, November 4th. The technology company reported ($1.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.76) by ($0.47). The company had revenue of $698.00 million for the quarter, compared to analysts’ expectations of $648.59 million. During the same period in the prior year, the company posted $0.15 EPS. Scientific Games’s revenue for the quarter was down 18.4% compared to the same quarter last year. Analysts anticipate that Scientific Games will post -3.43 earnings per share for the current fiscal year.

In related news, Chairman Ronald O. Perelman sold 2,499,999 shares of the firm’s stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $28.00, for a total value of $69,999,972.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 40.60% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System increased its holdings in Scientific Games by 2.2% during the 3rd quarter. Louisiana State Employees Retirement System now owns 14,000 shares of the technology company’s stock valued at $489,000 after acquiring an additional 300 shares in the last quarter. State of Michigan Retirement System increased its holdings in Scientific Games by 2.0% during the 3rd quarter. State of Michigan Retirement System now owns 20,345 shares of the technology company’s stock valued at $710,000 after acquiring an additional 400 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Scientific Games by 69.0% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,611 shares of the technology company’s stock valued at $25,000 after acquiring an additional 658 shares in the last quarter. AQR Capital Management LLC increased its holdings in Scientific Games by 0.4% during the 3rd quarter. AQR Capital Management LLC now owns 234,500 shares of the technology company’s stock valued at $8,186,000 after acquiring an additional 857 shares in the last quarter. Finally, Advisor Group Holdings Inc. increased its holdings in Scientific Games by 27.6% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,721 shares of the technology company’s stock valued at $73,000 after acquiring an additional 1,021 shares in the last quarter. Hedge funds and other institutional investors own 59.49% 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, social and digital gaming industries in the United States and internationally. 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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