Zacks: Brokerages Expect Esports Entertainment Group, Inc. (NASDAQ:GMBL) to Post -$0.37 EPS

Brokerages predict that Esports Entertainment Group, Inc. (NASDAQ:GMBLGet Rating) will post earnings per share (EPS) of ($0.37) for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Esports Entertainment Group’s earnings. The lowest EPS estimate is ($0.58) and the highest is ($0.15). Esports Entertainment Group reported earnings per share of ($0.34) during the same quarter last year, which would suggest a negative year over year growth rate of 8.8%. The company is expected to report its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Esports Entertainment Group will report full-year earnings of ($2.05) per share for the current financial year, with EPS estimates ranging from ($2.51) to ($1.36). For the next year, analysts anticipate that the firm will report earnings of ($0.85) per share, with EPS estimates ranging from ($1.42) to ($0.44). Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Esports Entertainment Group.

Esports Entertainment Group (NASDAQ:GMBLGet Rating) last released its quarterly earnings results on Tuesday, February 22nd. The company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). Esports Entertainment Group had a negative net margin of 115.86% and a negative return on equity of 44.43%. The firm had revenue of $14.53 million for the quarter, compared to the consensus estimate of $22.01 million.

A number of research firms have commented on GMBL. Benchmark dropped their price target on shares of Esports Entertainment Group from $20.00 to $4.00 and set a “speculative buy” rating on the stock in a research report on Wednesday, February 23rd. Zacks Investment Research lowered shares of Esports Entertainment Group from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. HC Wainwright lowered their price objective on shares of Esports Entertainment Group from $14.00 to $6.00 and set a “buy” rating on the stock in a research report on Wednesday, February 23rd. Finally, Roth Capital downgraded shares of Esports Entertainment Group from a “buy” rating to a “neutral” rating in a research report on Thursday, February 24th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Esports Entertainment Group presently has an average rating of “Buy” and a consensus target price of $8.95.

Esports Entertainment Group stock traded up $0.01 during midday trading on Tuesday, reaching $0.47. 356,806 shares of the stock traded hands, compared to its average volume of 1,269,884. The firm has a fifty day moving average price of $0.66 and a two-hundred day moving average price of $2.76. The firm has a market cap of $11.98 million, a price-to-earnings ratio of -0.19 and a beta of 1.07. Esports Entertainment Group has a fifty-two week low of $0.37 and a fifty-two week high of $13.74.

A number of institutional investors have recently added to or reduced their stakes in the stock. Engineers Gate Manager LP boosted its stake in Esports Entertainment Group by 87.0% during the 1st quarter. Engineers Gate Manager LP now owns 64,184 shares of the company’s stock worth $46,000 after acquiring an additional 29,864 shares during the last quarter. UBS Group AG acquired a new position in Esports Entertainment Group during the first quarter worth $27,000. Renaissance Technologies LLC increased its holdings in Esports Entertainment Group by 458.6% during the first quarter. Renaissance Technologies LLC now owns 1,205,260 shares of the company’s stock worth $871,000 after buying an additional 989,507 shares during the last quarter. Vanguard Group Inc. boosted its position in Esports Entertainment Group by 29.0% during the first quarter. Vanguard Group Inc. now owns 303,916 shares of the company’s stock worth $220,000 after purchasing an additional 68,351 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Esports Entertainment Group by 180.8% during the first quarter. Bank of New York Mellon Corp now owns 56,276 shares of the company’s stock worth $41,000 after purchasing an additional 36,236 shares during the period. 19.83% of the stock is currently owned by institutional investors and hedge funds.

Esports Entertainment Group Company Profile (Get Rating)

Esports Entertainment Group, Inc operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software for managing mission critical functions, such as game licensing and payments.

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