Scientific Games Corp (SGMS) Receives $38.63 Consensus Target Price from Analysts

Shares of Scientific Games Corp (NASDAQ:SGMS) have been given a consensus rating of “Hold” by the twelve brokerages that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $38.63.

A number of analysts recently weighed in on the stock. BidaskClub lowered shares of Scientific Games from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 13th. Deutsche Bank lowered their price objective on shares of Scientific Games to $26.00 and set a “hold” rating for the company in a research note on Monday, November 12th. ValuEngine raised shares of Scientific Games from a “sell” rating to a “hold” rating in a research note on Thursday, November 8th. Jefferies Financial Group set a $22.00 price objective on shares of Scientific Games and gave the stock a “hold” rating in a research note on Friday, December 14th. Finally, Susquehanna Bancshares assumed coverage on shares of Scientific Games in a research note on Friday, December 7th. They issued a “positive” rating and a $25.00 price objective for the company.

In other news, Director Ronald O. Perelman purchased 200,000 shares of the firm’s stock in a transaction on Monday, December 24th. The stock was acquired at an average cost of $16.20 per share, with a total value of $3,240,000.00. Following the completion of the transaction, the director now owns 88,032 shares in the company, valued at approximately $1,426,118.40. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald O. Perelman purchased 100,000 shares of the firm’s stock in a transaction on Wednesday, December 26th. The shares were purchased at an average cost of $17.11 per share, with a total value of $1,711,000.00. Following the completion of the transaction, the director now owns 88,032 shares of the company’s stock, valued at approximately $1,506,227.52. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 900,000 shares of company stock valued at $14,921,000. Insiders own 40.48% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in SGMS. BlackRock Inc. increased its holdings in shares of Scientific Games by 3.8% during the third quarter. BlackRock Inc. now owns 6,301,235 shares of the technology company’s stock valued at $160,050,000 after acquiring an additional 228,606 shares in the last quarter. Whale Rock Capital Management LLC increased its holdings in shares of Scientific Games by 25.0% during the second quarter. Whale Rock Capital Management LLC now owns 2,610,625 shares of the technology company’s stock valued at $128,312,000 after acquiring an additional 522,724 shares in the last quarter. FMR LLC increased its holdings in shares of Scientific Games by 34.8% during the third quarter. FMR LLC now owns 2,451,221 shares of the technology company’s stock valued at $62,262,000 after acquiring an additional 632,380 shares in the last quarter. Northern Trust Corp increased its holdings in shares of Scientific Games by 3.9% during the second quarter. Northern Trust Corp now owns 854,135 shares of the technology company’s stock valued at $41,981,000 after acquiring an additional 32,429 shares in the last quarter. Finally, Deutsche Bank AG increased its holdings in shares of Scientific Games by 172.9% during the third quarter. Deutsche Bank AG now owns 825,459 shares of the technology company’s stock valued at $20,966,000 after acquiring an additional 522,968 shares in the last quarter. 66.20% of the stock is owned by institutional investors and hedge funds.

SGMS stock opened at $20.72 on Tuesday. The firm has a market cap of $1.87 billion, a price-to-earnings ratio of -9.29, a PEG ratio of 3.98 and a beta of 2.05. Scientific Games has a twelve month low of $14.79 and a twelve month high of $62.80.

Scientific Games (NASDAQ:SGMS) last posted its quarterly earnings results on Thursday, November 8th. The technology company reported ($0.14) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.04. The company had revenue of $821.00 million during the quarter, compared to the consensus estimate of $828.92 million. During the same quarter in the previous year, the company posted ($0.66) earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Scientific Games will post -0.7 EPS for the current fiscal year.

About Scientific Games

Scientific Games Corporation develops technology-based products and services, and related content for the gaming, lottery, and interactive gaming industries worldwide. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals (VLTs), 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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