Analysts expect Glu Mobile Inc. (NASDAQ:GLUU) to report $0.05 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Glu Mobile’s earnings, with the highest EPS estimate coming in at $0.06 and the lowest estimate coming in at $0.04. Glu Mobile posted earnings of $0.03 per share during the same quarter last year, which suggests a positive year over year growth rate of 66.7%. The firm is expected to report its next quarterly earnings results on Tuesday, May 7th.
On average, analysts expect that Glu Mobile will report full-year earnings of $0.33 per share for the current year, with EPS estimates ranging from $0.22 to $0.37. For the next financial year, analysts anticipate that the firm will report earnings of $0.46 per share, with EPS estimates ranging from $0.34 to $0.55. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Glu Mobile.
A number of research analysts have issued reports on GLUU shares. Wedbush restated a “hold” rating and set a $9.00 price target on shares of Glu Mobile in a research note on Wednesday, January 30th. Stephens initiated coverage on shares of Glu Mobile in a research note on Thursday, January 10th. They set an “overweight” rating and a $10.50 price target on the stock. BidaskClub lowered shares of Glu Mobile from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 25th. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. Finally, Piper Jaffray Companies increased their price objective on shares of Glu Mobile to $11.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $9.31.
Large investors have recently added to or reduced their stakes in the company. Handelsbanken Fonder AB increased its stake in shares of Glu Mobile by 26.9% in the fourth quarter. Handelsbanken Fonder AB now owns 1,650,000 shares of the company’s stock worth $13,316,000 after acquiring an additional 350,000 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Glu Mobile by 79.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,752 shares of the company’s stock worth $71,000 after buying an additional 3,870 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Glu Mobile by 9.9% during the third quarter. Vanguard Group Inc. now owns 10,792,797 shares of the company’s stock worth $80,407,000 after buying an additional 975,586 shares in the last quarter. Cim LLC purchased a new stake in Glu Mobile during the fourth quarter worth $143,000. Finally, Nordea Investment Management AB boosted its holdings in Glu Mobile by 9.6% during the third quarter. Nordea Investment Management AB now owns 584,594 shares of the company’s stock worth $4,355,000 after buying an additional 50,980 shares in the last quarter. Hedge funds and other institutional investors own 56.57% of the company’s stock.
Glu Mobile stock traded up $0.20 during mid-day trading on Friday, reaching $10.63. 2,170,888 shares of the company traded hands, compared to its average volume of 2,365,848. Glu Mobile has a fifty-two week low of $4.07 and a fifty-two week high of $11.75. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of -132.88, a PEG ratio of 3.94 and a beta of 0.76.
About Glu Mobile
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 primarily in four genres, including home décor, sports and action, fashion and celebrity, and time management. It creates games based on its own brands, Blood & Glory, Contract Killer, Cooking Dash, Deer Hunter, Diner Dash, Eternity Warriors, Frontline Commando, Gun Bros, QuizUp, and Tap Sports.
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