Analysts expect International Game Technology PLC (NYSE:IGT) to announce $1.24 billion in sales for the current quarter, Zacks reports. Four analysts have made estimates for International Game Technology’s earnings. The lowest sales estimate is $1.23 billion and the highest is $1.25 billion. International Game Technology reported sales of $1.27 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The company is expected to issue its next earnings report on Thursday, March 5th.
On average, analysts expect that International Game Technology will report full year sales of $4.78 billion for the current financial year, with estimates ranging from $4.77 billion to $4.78 billion. For the next financial year, analysts expect that the business will post sales of $4.82 billion, with estimates ranging from $4.77 billion to $4.88 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover International Game Technology.
International Game Technology (NYSE:IGT) last released its earnings results on Thursday, November 14th. The company reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. International Game Technology had a return on equity of 7.80% and a net margin of 0.97%. The company’s revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.31 EPS.
IGT has been the topic of a number of analyst reports. Deutsche Bank reissued a “buy” rating and issued a $21.00 price target (up previously from $20.00) on shares of International Game Technology in a research note on Tuesday, November 19th. ValuEngine raised International Game Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. International Game Technology presently has a consensus rating of “Buy” and an average target price of $24.00.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Man Group plc increased its stake in International Game Technology by 456.1% in the third quarter. Man Group plc now owns 365,967 shares of the company’s stock valued at $5,200,000 after purchasing an additional 300,153 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in International Game Technology during the 3rd quarter worth $876,000. Stifel Financial Corp lifted its holdings in International Game Technology by 2.1% during the third quarter. Stifel Financial Corp now owns 115,847 shares of the company’s stock worth $1,636,000 after acquiring an additional 2,340 shares in the last quarter. Boston Partners lifted its holdings in International Game Technology by 4,856.2% during the third quarter. Boston Partners now owns 8,293,003 shares of the company’s stock worth $117,823,000 after acquiring an additional 8,125,678 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in International Game Technology by 92.3% during the third quarter. Tower Research Capital LLC TRC now owns 10,958 shares of the company’s stock worth $156,000 after acquiring an additional 5,261 shares in the last quarter. Hedge funds and other institutional investors own 37.73% of the company’s stock.
Shares of NYSE IGT opened at $14.05 on Friday. The company’s 50 day simple moving average is $14.18 and its 200 day simple moving average is $13.50. The firm has a market capitalization of $3.03 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.44 and a beta of 1.35. International Game Technology has a fifty-two week low of $11.32 and a fifty-two week high of $17.85. The company has a debt-to-equity ratio of 2.97, a current ratio of 1.03 and a quick ratio of 0.92.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 5.69%. International Game Technology’s dividend payout ratio is 81.63%.
International Game Technology Company Profile
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.
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