Glu Mobile Inc. (GLUU) Expected to Post Earnings of $0.05 Per Share

Equities analysts expect that Glu Mobile Inc. (NASDAQ:GLUU) will report earnings of $0.05 per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Glu Mobile’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.06. Glu Mobile reported earnings per share of ($0.13) during the same quarter last year, which would indicate a positive year-over-year growth rate of 138.5%. The company is expected to announce its next earnings report on Tuesday, August 7th.

On average, analysts expect that Glu Mobile will report full year earnings of $0.22 per share for the current financial year, with EPS estimates ranging from $0.20 to $0.26. For the next fiscal year, analysts anticipate that the company will report earnings of $0.32 per share, with EPS estimates ranging from $0.22 to $0.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Tuesday, May 1st. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.02. The business had revenue of $81.44 million for the quarter, compared to the consensus estimate of $73.20 million. Glu Mobile had a negative net margin of 26.33% and a negative return on equity of 34.72%. The company’s revenue was up 43.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share.

Several research firms have commented on GLUU. Stifel Nicolaus upped their price objective on shares of Glu Mobile from $5.50 to $6.50 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research downgraded shares of Glu Mobile from a “buy” rating to a “hold” rating in a report on Friday, May 11th. Benchmark upped their price objective on shares of Glu Mobile from $6.00 to $7.00 and gave the company a “buy” rating in a report on Wednesday, May 2nd. ValuEngine raised shares of Glu Mobile from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. Finally, BidaskClub raised shares of Glu Mobile from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 1st. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Glu Mobile currently has a consensus rating of “Buy” and an average target price of $4.86.

Glu Mobile traded up $0.07, hitting $5.67, during trading on Friday, according to Marketbeat. 2,565,600 shares of the company’s stock traded hands, compared to its average volume of 2,152,915. The company has a market cap of $830.98 million, a PE ratio of -11.16, a price-to-earnings-growth ratio of 7.44 and a beta of 1.46. Glu Mobile has a 12-month low of $2.42 and a 12-month high of $6.06. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.04.

In other news, Director Ann Mather sold 50,000 shares of the company’s stock in a transaction dated Monday, May 14th. The stock was sold at an average price of $5.40, for a total transaction of $270,000.00. Following the sale, the director now directly owns 78,666 shares in the company, valued at $424,796.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Chris Akhavan sold 5,100 shares of the company’s stock in a transaction dated Thursday, May 10th. The shares were sold at an average price of $5.50, for a total value of $28,050.00. Following the sale, the executive now owns 161,624 shares in the company, valued at $888,932. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 665,936 shares of company stock worth $3,411,146. Company insiders own 5.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its position in shares of Glu Mobile by 4.0% during the fourth quarter. Bank of New York Mellon Corp now owns 490,496 shares of the company’s stock valued at $1,785,000 after buying an additional 18,959 shares during the period. Renaissance Technologies LLC increased its position in shares of Glu Mobile by 3.7% during the fourth quarter. Renaissance Technologies LLC now owns 2,143,700 shares of the company’s stock valued at $7,803,000 after buying an additional 75,600 shares during the period. California Public Employees Retirement System increased its position in shares of Glu Mobile by 10.6% during the fourth quarter. California Public Employees Retirement System now owns 898,738 shares of the company’s stock valued at $3,271,000 after buying an additional 86,438 shares during the period. Virtu Financial LLC bought a new position in shares of Glu Mobile in the fourth quarter worth approximately $994,000. Finally, AXA increased its position in shares of Glu Mobile by 616.6% in the fourth quarter. AXA now owns 116,800 shares of the company’s stock worth $425,000 after purchasing an additional 100,500 shares during the last quarter. Hedge funds and other institutional investors own 45.91% of the company’s stock.

Glu Mobile Company Profile

Glu Mobile Inc develops, publishes, and markets a portfolio of free-to-play mobile games for the users of smartphones and tablet devices. The company publishes titles in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, including Contract Killer, Cooking Dash, Covet Fashion, Deer Hunter, Design Home, and QuizUp.

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

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