$1.02 billion in sales expected for International Game Technology PLC (NYSE:IGT) this quarter

Stock analysts expect International Game Technology PLC (NYSE:IGT) to post sales of $1.02 billion in the current fiscal quarter, reports Zacks Investment Research. Four analysts have released earnings estimates for International Game Technology, with estimates ranging from $989.00 million to $1.05 billion. International Game Technology recorded sales of $885.13 million in the same quarter last year, suggesting a positive growth rate of 15.2% year-over-year. The company is due to release its next earnings report on Tuesday, March 1.

According to Zacks, analysts expect International Game Technology to report annual sales of $4.06 billion for the current year, with estimates ranging from $4.03 billion to $4.09 billion. dollars. For next year, analysts expect the company to post sales of $4.18 billion, with estimates ranging from $4.08 billion to $4.28 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts who provide coverage for International Game Technology.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, November 9. The company reported EPS of $0.31 for the quarter, beating the Zacks consensus estimate of $0.21 by $0.10. International Game Technology achieved a net margin of 5.63% and a negative return on equity of 2.85%. The company posted revenue of $984.00 million for the quarter, versus a consensus estimate of $981.00 million. During the same period of the previous year, the company posted EPS of $0.26. The company’s revenue increased by 20.6% compared to the same quarter last year.

(A d)

This is the American crisis that almost no one sees coming.

IGT has been the subject of a number of research analyst reports. Berenberg Bank launched a hedge on the shares of International Game Technology in a research note on Tuesday, October 19. They set a “buy” rating and a price target of $35.00 on the stock. Stifel Nicolaus kicked off International Game Technology stock coverage in a research note on Thursday, December 16. They set a “buy” rating and a price target of $43.00 on the stock. Jefferies Financial Group downgraded shares of International Game Technology from a “buy” rating to a “hold” rating and reduced its price target for the company from $38.00 to $33.00 in a research note Wednesday, November 17. Deutsche Bank Aktiengesellschaft raised its price target on shares of International Game Technology from $32.00 to $42.00 and gave the stock a “buy” rating in a Wednesday, November 10, report. Finally, Credit Suisse Group raised its price target on International Game Technology shares from $36.00 to $57.00 and gave the stock an “outperform” rating in a Wednesday, November 10 report. . One analyst rated the stock with a hold rating and five gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $39.17.

A number of institutional investors have recently increased or reduced their stake in the company. Los Angeles Capital Management LLC increased its stake in International Game Technology by 1.0% during the third quarter. Los Angeles Capital Management LLC now owns 43,964 shares of the company valued at $1,157,000 after purchasing an additional 430 shares during the period. Meeder Asset Management Inc. increased its position in International Game Technology shares by 3.1% during the third quarter. Meeder Asset Management Inc. now owns 15,331 shares of the company valued at $404,000 after purchasing an additional 456 shares last quarter. Kestra Advisory Services LLC increased its position in International Game Technology shares by 1.8% during the 4th quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company valued at $757,000 after purchasing an additional 459 shares in the last quarter. PNC Financial Services Group Inc. increased its position in International Game Technology shares by 19.9% ​​during the third quarter. PNC Financial Services Group Inc. now owns 3,612 shares of the company valued at $96,000 after purchasing an additional 600 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC strengthened its position in International Game Technology shares by 100.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company valued at $35,000 after buying an additional 600 shares in the last quarter. 43.77% of the shares are currently held by hedge funds and other institutional investors.

NYSE IGT opened at $29.87 on Thursday. International Game Technology has a 12-month low of $15.11 and a 12-month high of $32.95. The company has a debt ratio of 3.24, a current ratio of 1.31 and a quick ratio of 1.21. The company has a market capitalization of $6.12 billion, a price-earnings ratio of 28.18 and a beta of 2.11. The company’s fifty-day moving average price is $27.14 and its two-hundred-day moving average price is $25.64.

International Gaming Technology Company Profile

International Game Technology Plc is engaged in the design, manufacture and marketing of electronic game equipment, software and network systems. It operates through Global Lottery and Global Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.

See also

Get a Free Copy of Zacks’ Research Report on International Game Technology (IGT)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for International Game Technology (NYSE:IGT)

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in International Game Technology right now?

Before you consider International Game Technology, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and International Game Technology was not on the list.

Although International Game Technology currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here