Scientific Games (SGMS) Price Target Lowered to $46.00 at Jefferies Financial Group
Scientific Games (NASDAQ:SGMS) had its price target cut by Jefferies Financial Group from $61.00 to $46.00 in a report released on Tuesday, MarketBeat.com reports. They currently have a buy rating on the technology company’s stock. Jefferies Financial Group also issued estimates for Scientific Games’ Q3 2018 earnings at ($0.24) EPS, Q4 2018 earnings at ($0.07) EPS, Q1 2019 earnings at $0.13 EPS, Q2 2019 earnings at $0.18 EPS, Q3 2019 earnings at $0.07 EPS, Q4 2019 earnings at $0.24 EPS, FY2019 earnings at $0.62 EPS, Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.29 EPS and FY2020 earnings at $1.04 EPS.
Other analysts have also issued reports about the company. Zacks Investment Research raised Scientific Games from a hold rating to a buy rating and set a $60.00 target price for the company in a research report on Wednesday, May 2nd. Telsey Advisory Group boosted their target price on Scientific Games from $59.00 to $70.00 and gave the company an outperform rating in a research report on Thursday, May 24th. ValuEngine raised Scientific Games from a buy rating to a strong-buy rating in a research report on Wednesday, May 2nd. BidaskClub lowered Scientific Games from a strong-buy rating to a buy rating in a research report on Friday, June 8th. Finally, Stifel Nicolaus decreased their target price on Scientific Games from $57.00 to $46.00 and set a hold rating for the company in a research report on Friday, August 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Scientific Games has an average rating of Hold and an average price target of $54.67.
Shares of Scientific Games traded up $0.15, reaching $33.30, during midday trading on Tuesday, MarketBeat.com reports. The company’s stock had a trading volume of 1,828,109 shares, compared to its average volume of 1,754,854. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of -14.93 and a beta of 2.41. The company has a debt-to-equity ratio of -3.90, a current ratio of 1.92 and a quick ratio of 1.58. Scientific Games has a fifty-two week low of $31.45 and a fifty-two week high of $62.80.
In other Scientific Games news, EVP Derik Mooberry sold 84,174 shares of the business’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $59.82, for a total transaction of $5,035,288.68. Following the completion of the sale, the executive vice president now directly owns 69,899 shares of the company’s stock, valued at approximately $4,181,358.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Winterscheidt sold 4,420 shares of the business’s stock in a transaction that occurred on Thursday, June 14th. The stock was sold at an average price of $56.77, for a total value of $250,923.40. The disclosure for this sale can be found here. Insiders sold a total of 93,594 shares of company stock valued at $5,534,762 over the last ninety days. 40.48% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Bank of Montreal Can bought a new stake in Scientific Games during the 2nd quarter worth approximately $104,000. Cerebellum GP LLC bought a new stake in Scientific Games during the 2nd quarter worth approximately $121,000. Alps Advisors Inc. bought a new stake in Scientific Games during the 2nd quarter worth approximately $208,000. LS Investment Advisors LLC increased its holdings in Scientific Games by 42.9% during the 1st quarter. LS Investment Advisors LLC now owns 4,441 shares of the technology company’s stock worth $185,000 after purchasing an additional 1,333 shares in the last quarter. Finally, Verition Fund Management LLC bought a new stake in Scientific Games during the 1st quarter worth approximately $222,000. 63.77% of the stock is owned by hedge funds and other institutional investors.
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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