Scientific Games (NASDAQ:SGMS) Price Target Cut to $85.00

Scientific Games (NASDAQ:SGMS) had its target price lowered by investment analysts at Truist Securities from $110.00 to $85.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has a “buy” rating on the technology company’s stock. Truist Securities’ price target would suggest a potential upside of 38.66% from the company’s current price. Truist Securities also issued estimates for Scientific Games’ Q1 2022 earnings at $0.44 EPS, Q2 2022 earnings at $0.63 EPS, Q3 2022 earnings at $0.18 EPS and FY2022 earnings at $1.55 EPS.

A number of other equities analysts also recently weighed in on the stock. Stifel Nicolaus downgraded shares of Scientific Games from a “buy” rating to a “hold” rating and boosted their price target for the stock from $84.00 to $90.00 in a report on Wednesday, November 3rd. Berenberg Bank initiated coverage on shares of Scientific Games in a report on Tuesday, October 19th. They issued a “buy” rating and a $98.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Scientific Games from $63.00 to $71.00 and gave the company a “hold” rating in a report on Thursday, November 11th. Craig Hallum upped their price objective on shares of Scientific Games from $100.00 to $105.00 and gave the company a “buy” rating in a report on Friday, September 24th. Finally, Truist dropped their price objective on shares of Scientific Games from $110.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $81.50.

SGMS opened at $61.30 on Thursday. The company has a market capitalization of $5.92 billion, a price-to-earnings ratio of 33.50 and a beta of 1.93. The firm’s fifty day moving average price is $65.22 and its two-hundred day moving average price is $71.02. Scientific Games has a 1 year low of $36.89 and a 1 year high of $90.20.

Scientific Games (NASDAQ:SGMS) last issued its quarterly earnings results on Tuesday, November 9th. The technology company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.51. The company had revenue of $539.00 million for the quarter, compared to the consensus estimate of $759.57 million. Scientific Games had a net margin of 6.39% and a negative return on equity of 5.54%. As a group, sell-side analysts forecast that Scientific Games will post 2.95 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its position in shares of Scientific Games by 0.8% during the fourth quarter. Louisiana State Employees Retirement System now owns 24,800 shares of the technology company’s stock valued at $1,657,000 after buying an additional 200 shares during the period. Jefferies Group LLC increased its position in shares of Scientific Games by 21.6% during the third quarter. Jefferies Group LLC now owns 5,323 shares of the technology company’s stock valued at $442,000 after buying an additional 947 shares during the period. Comerica Bank increased its position in shares of Scientific Games by 96.5% in the third quarter. Comerica Bank now owns 50,486 shares of the technology company’s stock worth $4,317,000 after purchasing an additional 24,793 shares during the last quarter. American International Group Inc. increased its position in shares of Scientific Games by 41.4% in the third quarter. American International Group Inc. now owns 217,539 shares of the technology company’s stock worth $18,071,000 after purchasing an additional 63,655 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Scientific Games by 42.2% in the third quarter. Bank of New York Mellon Corp now owns 929,960 shares of the technology company’s stock worth $77,252,000 after purchasing an additional 275,844 shares during the last quarter. Hedge funds and other institutional investors own 93.71% of the company’s stock.

Scientific Games Company Profile

Scientific Games Corp. engages in the development of technology-based products and services and associated content. It operates through the following business segments: Gaming, Lottery, and SciPlay, and Digital. The Gaming segment designs, develops, manufactures, markets, and distributes a comprehensive portfolio of gaming products and services.

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