Equities analysts predict that International Game Technology PLC (NYSE:IGT – Get Rating) will post earnings per share of $0.35 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for International Game Technology’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.25. International Game Technology reported earnings per share of ($0.48) during the same quarter last year, which would indicate a positive year over year growth rate of 172.9%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that International Game Technology will report full-year earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.02 to $1.92. For the next fiscal year, analysts forecast that the firm will report earnings of $1.77 per share, with EPS estimates ranging from $1.03 to $2.38. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for International Game Technology.
International Game Technology (NYSE:IGT – Get Rating) last released its earnings results on Tuesday, May 10th. The company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. International Game Technology had a return on equity of 3.35% and a net margin of 11.37%. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 earnings per share.
IGT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on International Game Technology from $39.00 to $37.00 in a research note on Wednesday, May 11th. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and cut their price objective for the company from $30.00 to $26.00 in a research note on Thursday, May 12th. Credit Suisse Group upped their price objective on International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, May 10th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $40.80.
Shares of NYSE IGT opened at $20.60 on Monday. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.43 and a quick ratio of 1.33. International Game Technology has a 1-year low of $17.27 and a 1-year high of $32.95. The business has a 50-day moving average of $23.04 and a 200-day moving average of $25.94. The company has a market capitalization of $4.20 billion, a price-to-earnings ratio of 9.04 and a beta of 1.93.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 7th. Stockholders of record on Tuesday, May 24th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, May 23rd. International Game Technology’s payout ratio is 35.09%.
Hedge funds have recently modified their holdings of the stock. Capital Research Global Investors boosted its stake in International Game Technology by 115.5% during the 1st quarter. Capital Research Global Investors now owns 2,331,200 shares of the company’s stock valued at $57,534,000 after purchasing an additional 1,249,200 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in International Game Technology during the 1st quarter valued at $181,000. First Capital Advisors Group LLC. bought a new position in International Game Technology during the 1st quarter valued at $262,000. Goldman Sachs Group Inc. boosted its stake in International Game Technology by 89.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,251,116 shares of the company’s stock valued at $30,878,000 after purchasing an additional 590,469 shares in the last quarter. Finally, JAT Capital Mgmt LP boosted its stake in International Game Technology by 46.1% during the 1st quarter. JAT Capital Mgmt LP now owns 832,977 shares of the company’s stock valued at $20,558,000 after purchasing an additional 262,834 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.
International Game Technology Company Profile (Get Rating)
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.
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