Zacks: Brokerages Anticipate Glu Mobile Inc. (GLUU) to Announce -$0.09 EPS

Equities analysts expect that Glu Mobile Inc. (NASDAQ:GLUU) will post ($0.09) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Glu Mobile’s earnings. Glu Mobile posted earnings per share of ($0.06) during the same quarter last year, which suggests a negative year over year growth rate of 50%. The business is expected to report its next quarterly earnings report on Tuesday, May 2nd.

On average, analysts expect that Glu Mobile will report full-year earnings of ($0.30) per share for the current financial year, with EPS estimates ranging from ($0.32) to ($0.28). For the next year, analysts forecast that the company will report earnings of $0.00 per share. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that that provide coverage for Glu Mobile.

Glu Mobile (NASDAQ:GLUU) last released its quarterly earnings data on Wednesday, February 8th. The company reported ($0.13) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. Glu Mobile had a negative return on equity of 27.11% and a negative net margin of 43.59%. The company earned $46.30 million during the quarter, compared to analysts’ expectations of $47.04 million. During the same quarter in the prior year, the company posted $0.02 EPS. The company’s revenue for the quarter was down 24.1% on a year-over-year basis.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Glu Mobile from a “sell” rating to a “hold” rating in a research report on Monday, March 27th. Wedbush set a $2.00 target price on Glu Mobile and gave the stock a “hold” rating in a research report on Wednesday, February 8th. Mizuho assumed coverage on Glu Mobile in a research report on Thursday, December 22nd. They set a “neutral” rating and a $2.30 target price on the stock. Canaccord Genuity reissued a “hold” rating and set a $3.00 target price on shares of Glu Mobile in a research report on Friday, February 3rd. Finally, Roth Capital raised Glu Mobile from a “neutral” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Monday, February 6th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $2.66.

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Glu Mobile (NASDAQ:GLUU) remained flat at $2.25 during midday trading on Monday. The company had a trading volume of 9,982,868 shares. Glu Mobile has a 1-year low of $1.73 and a 1-year high of $3.06. The company’s market cap is $303.11 million. The firm’s 50-day moving average is $2.11 and its 200 day moving average is $2.14.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Raging Capital Management LLC raised its position in Glu Mobile by 8.6% in the fourth quarter. Raging Capital Management LLC now owns 6,037,648 shares of the company’s stock valued at $11,713,000 after buying an additional 479,099 shares during the period. Capital Advisors Inc. OK purchased a new position in Glu Mobile during the third quarter valued at approximately $103,000. Alambic Investment Management L.P. raised its position in Glu Mobile by 41.9% in the third quarter. Alambic Investment Management L.P. now owns 691,000 shares of the company’s stock valued at $1,548,000 after buying an additional 203,900 shares during the period. Bank of Montreal Can purchased a new position in Glu Mobile during the first quarter valued at approximately $171,000. Finally, Creative Planning raised its position in Glu Mobile by 1.8% in the first quarter. Creative Planning now owns 49,901 shares of the company’s stock valued at $113,000 after buying an additional 901 shares during the period. 26.56% of the stock is currently owned by institutional investors.

About Glu Mobile

Glu Mobile Inc develops, publishes and markets a portfolio of games. The Company’s games appeal to a cross section of the users of smartphones and tablet devices who download and make purchases within its games through direct-to-consumer digital storefronts. It operates through mobile games segment. It operates in various geographical regions, including the United States; Americas, excluding the United States; Europe, the Middle East and Africa (EMEA), and Asia Pacific.

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