Brokers expect International Game Technology PLC (NYSE:IGT – Get Rating) to post earnings per share of $0.34 for the current quarter, Zacks reports. Four analysts have released earnings estimates for International Game Technology, with estimates ranging from $0.26 to $0.49. International Game Technology reported earnings per share of $0.38 in the same quarter last year, indicating a negative 10.5% year-over-year growth rate. The company is due to release its next quarterly results on Monday, January 1.
On average, analysts expect International Game Technology to report annual earnings of $1.43 per share for the current year, with EPS estimates ranging from $1.13 to $1.90. For the next fiscal year, analysts expect the company to post earnings of $1.81 per share, with EPS estimates ranging from $1.30 to $2.27. Zacks EPS averages are an average based on a survey of sell-side research companies that provide coverage for International Game Technology.
International Game Technology (NYSE:IGT – Get Rating) last released its results on Tuesday, March 1. The company reported earnings per share (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 for the quarter, versus analyst estimates of $1.02 billion. International Game Technology achieved a net margin of 11.78% and a return on equity of 3.59%.
A number of research analysts have weighed in on IGT shares. Credit Suisse Group raised its price target on shares of International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a Wednesday, March 2 research report . StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a Friday, April 8 research report. One analyst gave the stock a hold rating and five gave the stock a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $43.20.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. Steward Partners Investment Advisory LLC increased 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 worth $35,000 after purchasing an additional 600 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in International Game Technology during Q3, valued at approximately $54,000. National Bank of Canada FI acquired a new stake in International Game Technology during the 4th quarter at a value of approximately $60,000. PNC Financial Services Group Inc. increased its stake in International Game Technology 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 acquiring an additional 600 shares in the last quarter. Finally, Future Financial Wealth Management LLC acquired a new stake in International Game Technology during Q4, valued at approximately $99,000. Hedge funds and other institutional investors hold 44.33% of the company’s shares.
NYSE IGT rose $0.05 on Monday, hitting $24.60. 1,036,201 shares of the company have been traded, compared to its average volume of 1,490,972. The company has a market capitalization of $5.01 billion, a price-earnings ratio of 10.56 and a beta of 1 .98. The stock has a 50-day moving average price of $25.92 and a 200-day moving average price of $27.29. International Game Technology has a fifty-two week minimum of $15.15 and a fifty-two week maximum of $32.95. The company has a debt ratio of 3.29, a quick ratio of 1.20 and a current ratio of 1.30.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 29. Investors 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 (DPR) is currently 34.33%.
About International Gaming Technology (Get an evaluation)
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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