Stock analysts expect International Game Technology PLC (NYSE:IGT – Get Rating) to post sales of $1.03 billion in the current fiscal quarter, according to Zacks Investment Research. Four analysts have released earnings estimates for International Game Technology, with the highest sales estimate at $1.06 billion and the lowest estimate at $1.02 billion. International Game Technology reported sales of $1.02 billion in the same quarter last year, indicating a positive year-over-year growth rate of 1%. The company is due to release its next quarterly results on Monday, January 1.
According to Zacks, analysts expect International Game Technology to report annual sales of $4.15 billion for the current year, with estimates ranging from $4.04 billion to $4.26 billion. dollars. For next year, analysts expect the company to post sales of $4.28 billion, with estimates ranging from $4.16 billion to $4.47 billion. Zacks Investment Research sales averages are an average average based on a survey of sell-side research companies that cover International Game Technology.
International Game Technology (NYSE:IGT – Get Rating) last released quarterly earnings data on Tuesday, March 1. The company reported EPS of $0.09 for the quarter, missing analyst consensus estimates of $0.39 per ($0.30). The company posted revenue of $1.05 billion in the quarter, versus a consensus estimate of $1.02 billion. International Game Technology achieved a net margin of 11.78% and a return on equity of 3.59%.
IGT has been the subject of a number of recent analyst reports. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Friday, April 8 report. Credit Suisse Group raised its price target on International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a Wednesday, March 2 report. One analyst rated the stock with a hold rating and five gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.20.
NYSE IGT rose $0.05 on Wednesday, hitting $24.60. The company had a trading volume of 1,036,201 shares, compared to an average volume of 1,490,972. The stock’s 50-day moving average is $25.92 and its 200-day moving average is 27. $29. The stock has a market capitalization of $5.01 billion, a price-earnings ratio of 10.56 and a beta of 1.98. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt ratio of 3.29. International Game Technology has a 52 week low of $15.15 and a 52 week high of $32.95.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 29. Shareholders of record on Tuesday, March 15 received a dividend of $0.20 per share. The ex-dividend date was Monday, March 14. This represents an annualized dividend of $0.80 and a dividend yield of 3.25%. International Game Technology’s dividend payout ratio is currently 34.33%.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of International Game Technology by 9.5% during the fourth quarter. BlackRock Inc. now owns 11,013,922 shares of the company worth $318,413,000 after purchasing an additional 955,108 shares during the period. Boston Partners increased its position in shares of International Game Technology by 5.4% during the third quarter. Boston Partners now owns 6,962,134 shares of the company worth $179,958,000 after purchasing an additional 356,457 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of International Game Technology by 62.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,883,436 shares of the company worth $199,001,000 after purchasing an additional 2,639,187 shares during the period. Lazard Asset Management LLC increased its position in International Game Technology shares by 16.1% during the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company worth $173,074,000 after purchasing an additional 828,482 shares during the period. Finally, 140 Summer Partners LP increased its position in International Game Technology shares by 164.4% during the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company worth $73,901,000 after purchasing an additional 1,589,548 shares during the period. 44.33% of the shares are held by institutional investors.
About International Gaming Technology (Get a rating)
International Game Technology PLC operates and provides game 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 the 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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