Jefferies Financial Group downgraded shares of Scientific Games (NASDAQ:SGMS) from a buy rating to a hold rating in a research report sent to investors on Friday, MarketBeat Ratings reports. Jefferies Financial Group currently has $22.00 target price on the technology company’s stock. Jefferies Financial Group also issued estimates for Scientific Games’ Q3 2019 earnings at $0.04 EPS, Q4 2019 earnings at $0.15 EPS, FY2019 earnings at $0.52 EPS and FY2020 earnings at $0.33 EPS.

Several other research analysts have also recently issued reports on SGMS. BidaskClub cut shares of Scientific Games from a hold rating to a sell rating in a report on Thursday, July 26th. ValuEngine cut shares of Scientific Games from a strong-buy rating to a buy rating in a report on Friday, August 3rd. Stifel Nicolaus reduced their target price on shares of Scientific Games from $57.00 to $46.00 and set a hold rating for the company in a report on Friday, August 3rd. Zacks Investment Research cut shares of Scientific Games from a buy rating to a hold rating in a report on Monday, August 6th. Finally, TheStreet lowered shares of Scientific Games from a c- rating to a d+ rating in a research report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $42.63.

Shares of Scientific Games stock opened at $18.70 on Friday. Scientific Games has a 1 year low of $17.91 and a 1 year high of $62.80. The firm has a market cap of $1.71 billion, a P/E ratio of -8.38 and a beta of 2.21.

Scientific Games (NASDAQ:SGMS) last issued its earnings results on Thursday, November 8th. The technology company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.04. The business had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $828.92 million. During the same period last year, the business earned ($0.66) EPS. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, analysts forecast that Scientific Games will post -0.7 EPS for the current year.

In other news, Director Barry F. Schwartz purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, September 17th. The shares were bought at an average price of $24.76 per share, for a total transaction of $123,800.00. Following the completion of the transaction, the director now owns 106,852 shares in the company, valued at $2,645,655.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 40.48% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in SGMS. Amalgamated Bank grew its position in shares of Scientific Games by 16.7% in the second quarter. Amalgamated Bank now owns 8,925 shares of the technology company’s stock valued at $439,000 after purchasing an additional 1,279 shares during the period. SG Americas Securities LLC grew its position in shares of Scientific Games by 21.7% in the second quarter. SG Americas Securities LLC now owns 9,730 shares of the technology company’s stock valued at $478,000 after purchasing an additional 1,738 shares during the period. Bank of Montreal Can acquired a new stake in shares of Scientific Games in the second quarter valued at about $104,000. Mutual of America Capital Management LLC grew its position in shares of Scientific Games by 6.5% in the second quarter. Mutual of America Capital Management LLC now owns 45,293 shares of the technology company’s stock valued at $2,226,000 after purchasing an additional 2,770 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Scientific Games in the second quarter valued at about $140,000. Institutional investors own 65.21% of the company’s stock.

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.

Further Reading: Day Trading – Risk Worth the Reward?

Analyst Recommendations for Scientific Games (NASDAQ:SGMS)

Receive News & Ratings for Scientific Games Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Scientific Games and related companies with MarketBeat.com's FREE daily email newsletter.