Why Scientific Games (SGMS) Stock Is Plummeting Today

NEW YORK (TheStreet) -- Shares of Scientific Games Corp. (SGMS) are down -18.22% to $8.84 on Friday as a result of the -$45 million net loss the company reported for the 2014 first quarter, compared to a net loss of -12.3 million from the same period last year.

The global supplier of solutions to lottery and gaming organizations said net loss per share for the most recent quarter was -53 cents versus a net loss of -15 cents from the 2013 first quarter.

Scientific games said revenue rose to $338 million, compared to $219.6 from the year ago quarter.

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TheStreet Ratings team rates SCIENTIFIC GAMES CORP as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SCIENTIFIC GAMES CORP (SGMS) a HOLD. The primary factors that have impacted our rating are mixed some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet."

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Here's Why Scientific Games (SGMS) Stock Is Soaring Today