Glu Mobile Inc. (NASDAQ:GLUU) to Post Q3 2017 Earnings of ($0.05) Per Share, Wedbush Forecasts

Glu Mobile Inc. (NASDAQ:GLUU) – Equities research analysts at Wedbush boosted their Q3 2017 EPS estimates for Glu Mobile in a report issued on Wednesday. Wedbush analyst N. Mckay now forecasts that the company will post earnings of ($0.05) per share for the quarter, up from their previous forecast of ($0.07). Wedbush has a “Hold” rating on the stock. Wedbush also issued estimates for Glu Mobile’s Q4 2017 earnings at ($0.04) EPS, FY2017 earnings at ($0.18) EPS, Q1 2018 earnings at ($0.02) EPS, Q2 2018 earnings at ($0.02) EPS, Q3 2018 earnings at ($0.02) EPS, Q4 2018 earnings at ($0.01) EPS and FY2018 earnings at ($0.07) EPS.

Several other analysts also recently weighed in on GLUU. Stifel Nicolaus reissued a “buy” rating and issued a $3.30 price target (up from $2.80) on shares of Glu Mobile in a research note on Monday, July 31st. Roth Capital set a $4.00 price target on shares of Glu Mobile and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company reissued an “outperform” rating and issued a $3.50 price target (up from $3.00) on shares of Glu Mobile in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of Glu Mobile from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Mizuho boosted their price target on shares of Glu Mobile from $2.40 to $2.80 and gave the stock a “neutral” rating in a research note on Thursday, May 4th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Glu Mobile presently has a consensus rating of “Buy” and an average target price of $3.03.

COPYRIGHT VIOLATION WARNING: “Glu Mobile Inc. (NASDAQ:GLUU) to Post Q3 2017 Earnings of ($0.05) Per Share, Wedbush Forecasts” was originally posted by Rincon Hill News and is the property of of Rincon Hill News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://rinconhillneighbors.org/2017/08/19/glu-mobile-inc-nasdaqgluu-to-post-q3-2017-earnings-of-0-05-per-share-wedbush-forecasts-updated.html.

Shares of Glu Mobile (NASDAQ:GLUU) opened at 3.13 on Monday. The company has a 50-day moving average price of $2.64 and a 200-day moving average price of $2.40. The firm’s market capitalization is $422.75 million. Glu Mobile has a 12-month low of $1.73 and a 12-month high of $3.21.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Glu Mobile by 8.0% in the first quarter. Vanguard Group Inc. now owns 4,667,543 shares of the company’s stock valued at $10,595,000 after buying an additional 344,727 shares during the period. State Street Corp increased its position in shares of Glu Mobile by 2.4% in the fourth quarter. State Street Corp now owns 1,799,025 shares of the company’s stock valued at $3,493,000 after buying an additional 41,559 shares during the period. Menta Capital LLC purchased a new position in shares of Glu Mobile during the first quarter valued at approximately $3,359,000. Geode Capital Management LLC increased its position in shares of Glu Mobile by 2.0% in the first quarter. Geode Capital Management LLC now owns 879,018 shares of the company’s stock valued at $1,995,000 after buying an additional 17,600 shares during the period. Finally, Morgan Stanley increased its position in shares of Glu Mobile by 40.5% in the first quarter. Morgan Stanley now owns 713,836 shares of the company’s stock valued at $1,620,000 after buying an additional 205,918 shares during the period. 30.17% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Masi Niccolo De sold 339,648 shares of the company’s stock in a transaction dated Thursday, June 8th. The shares were sold at an average price of $2.59, for a total transaction of $879,688.32. Following the completion of the transaction, the insider now directly owns 537,228 shares of the company’s stock, valued at $1,391,420.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.60% of the company’s stock.

About Glu Mobile

Glu Mobile Inc develops, publishes and markets a portfolio of mobile games. The Company develops and publishes a portfolio of mobile games designed to appeal to a cross section of the users of smartphones and tablet devices. Its portfolio of mobile games is spread across various genres, including Fashion and Celebrity, Food, Sports and Action, Social Networking and Home.

Earnings History and Estimates for Glu Mobile (NASDAQ:GLUU)

Receive News & Ratings for Glu Mobile Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Glu Mobile Inc. and related companies with our FREE daily email newsletter.

 

Latest News



Leave a Reply

 
© 2006-2017 Rincon Hill News.