Brokerages Expect NeoGames S.A. (NASDAQ:NGMS) Will Post Quarterly Sales of $11.05 Million

Brokerages predict that NeoGames S.A. (NASDAQ:NGMS) will post $11.05 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for NeoGames’ earnings. The lowest sales estimate is $10.50 million and the highest is $11.60 million. The company is scheduled to report its next quarterly earnings report on Wednesday, November 10th.

According to Zacks, analysts expect that NeoGames will report full-year sales of $48.90 million for the current financial year, with estimates ranging from $47.70 million to $50.10 million. For the next financial year, analysts forecast that the firm will report sales of $50.60 million, with estimates ranging from $48.20 million to $53.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for NeoGames.

NeoGames (NASDAQ:NGMS) last posted its quarterly earnings results on Wednesday, August 11th. The company reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.04). The company had revenue of $12.89 million for the quarter, compared to analyst estimates of $12.65 million.

Separately, Zacks Investment Research upgraded shares of NeoGames from a “sell” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $44.40.

Several institutional investors have recently added to or reduced their stakes in NGMS. Employees Retirement System of Texas boosted its holdings in NeoGames by 2.2% during the first quarter. Employees Retirement System of Texas now owns 27,173 shares of the company’s stock worth $972,000 after purchasing an additional 586 shares during the last quarter. Legal & General Group Plc boosted its holdings in NeoGames by 131.5% during the second quarter. Legal & General Group Plc now owns 1,169 shares of the company’s stock worth $71,000 after purchasing an additional 664 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in NeoGames during the second quarter worth $61,000. Deutsche Bank AG boosted its holdings in NeoGames by 38.9% during the second quarter. Deutsche Bank AG now owns 4,881 shares of the company’s stock worth $300,000 after purchasing an additional 1,366 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in NeoGames during the first quarter worth $57,000. Institutional investors own 25.63% of the company’s stock.

NASDAQ:NGMS traded up $3.38 during trading hours on Monday, hitting $41.30. The stock had a trading volume of 3,160 shares, compared to its average volume of 170,697. NeoGames has a one year low of $18.67 and a one year high of $73.54. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.40 and a current ratio of 2.40. The company has a market cap of $908.43 million and a price-to-earnings ratio of 103.59. The business’s 50 day moving average is $40.64 and its 200-day moving average is $48.05.

About NeoGames

NeoGames SA provides a suite of iLottery technology solutions worldwide. The company offers various technology platforms, a range of value-added services, and a game studio that provides a portfolio of draw based games and instant tickets through personal computers, smartphones, and handheld devices.

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Earnings History and Estimates for NeoGames (NASDAQ:NGMS)

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