Stock analysts expect International Game Technology PLC (NYSE:IGT) to report $1.03 billion in sales for the current quarter, according to Zacks. Four analysts provided earnings estimates for International Game Technology, with estimates ranging from $1.00 billion to $1.05 billion. International Game Technology recorded sales of $885.13 million in the same quarter last year, suggesting a positive year-over-year growth rate of 16.4%. The company is expected to announce its next quarterly results on Tuesday, March 1.
On average, analysts expect International Game Technology to report annual sales of $4.07 billion for the current year, with estimates ranging from $4.04 billion to $4.09 billion. dollars. For the next fiscal year, analysts expect the company to post sales of $4.18 billion, with estimates ranging from $4.08 billion to $4.28 billion. Zacks sales calculations are an average average based on a survey of sell-side research analysts who track International Game Technology.
International Game Technology (NYSE:IGT) last released its quarterly results 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. The company posted revenue of $984.00 million for the quarter, compared to analysts’ expectations of $981.00 million. International Game Technology posted a negative return on equity of 2.85% and a net margin of 5.63%. The company’s revenue increased by 20.6% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.26.
IGT has been the subject of several recent research reports. Stifel Nicolaus launched coverage on International Game Technology in a report on Thursday, December 16. They set a “buy” rating and a price target of $43.00 on the stock. Credit Suisse Group raised its price target on International Game Technology from $36.00 to $57.00 and gave the stock an “outperform” rating in a Wednesday, November 10 report. Berenberg Bank launched coverage on International Game Technology in a report on Tuesday, October 19. They set a “buy” rating and a price target of $35.00 on the stock. Deutsche Bank Aktiengesellschaft raised its price target on International Game Technology from $32.00 to $42.00 and gave the stock a “buy” rating in a Wednesday, November 10 report. Finally, Jefferies Financial Group downgraded International Game Technology from a “buy” rating to a “hold” rating and reduced its target price for the company from $38.00 to $33.00 in a Wednesday 17 research report. November. One equity research analyst gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $39.17.
A number of institutional investors have recently changed their positions in the company. Los Angeles Capital Management LLC increased its position in International Game Technology by 1.0% in the third quarter. Los Angeles Capital Management LLC now owns 43,964 shares of the company valued at $1,157,000 after acquiring 430 additional shares in the last quarter. Meeder Asset Management Inc. increased its position in International Game Technology by 3.1% in Q3. Meeder Asset Management Inc. now owns 15,331 shares of the company valued at $404,000 after acquiring 456 additional shares in the last quarter. Kestra Advisory Services LLC increased its holding in shares of International Game Technology by 1.8% in the 4th quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company worth $757,000 after purchasing an additional 459 shares during the period. PNC Financial Services Group Inc. increased its holding in shares of International Game Technology by 19.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,612 shares of the company worth $96,000 after purchasing an additional 600 shares during the period. Finally, Van ECK Associates Corp increased its stake in shares of International Game Technology by 1.3% in the 3rd quarter. Van ECK Associates Corp now owns 55,330 shares of the company worth $1,456,000 after purchasing an additional 725 shares during the period. 43.77% of the shares are currently held by institutional investors.
Shares of IGT opened at $26.75 on Friday. The stock has a market capitalization of $5.48 billion, a price-earnings ratio of 26.21 and a beta of 2.14. International Game Technology has a 1 year minimum of $15.11 and a 1 year maximum of $32.95. The company’s 50-day simple moving average is $27.52 and its 200-day simple moving average is $25.08. The company has a debt ratio of 3.24, a current ratio of 1.31 and a quick ratio of 1.21.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 7. Shareholders of record on Tuesday, November 23 received a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 2.99%. The ex-dividend date was Monday, November 22. International Game Technology’s dividend payout ratio is currently 75.47%.
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.
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