Stock analysts predict that International Game Technology PLC (NYSE:IGT – Get Rating) will post $0.35 per share earnings for the current fiscal quarter, Zacks reports. Four analysts released earnings estimates for International Game Technology, with the highest EPS estimate of $0.52 and the lowest estimate of $0.25. International Game Technology reported earnings per share of ($0.48) in the same quarter last year, which would indicate a positive growth rate of 172.9% year over year. The company is expected to announce its next quarterly results on Monday, January 1.
According to Zacks, analysts expect International Game Technology to report annual earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.02 to $1.92. For the next fiscal year, analysts expect the company to post earnings of $1.77 per share, with EPS estimates ranging from $1.03 to $2.38. Zacks earnings per share calculations are an average based on a survey of research analysts who provide coverage for International Game Technology.
International Game Technology (NYSE:IGT – Get Rating) last released its results on Tuesday, May 10. The company reported EPS of $0.39 for the quarter, beating the consensus estimate of $0.33 by $0.06. The company posted revenue of $1.05 billion in the quarter, versus analyst estimates of $1.04 billion. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company’s quarterly revenue increased by 3.5% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.38.
IGT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $39.00 to $37.00 in a Wednesday, May 11 research note. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the company from $30.00 to $26.00 in a Thursday research note May 12. Credit Suisse Group raised its price target on International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a Wednesday, March 2 research note. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Tuesday, May 10 research note. Six research analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.80.
NYSE IGT shares opened at $20.60 on Monday. The company has a debt ratio of 3.51, a current ratio of 1.43 and a quick ratio of 1.33. International Game Technology has a 1-year minimum of $17.27 and a 1-year maximum of $32.95. The company has a 50-day moving average of $23.04 and a 200-day moving average of $25.94. The company has a market capitalization of $4.20 billion, a price-earnings ratio of 9.04 and a beta of 1.93.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 will receive a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, May 23. International Game Technology’s payout rate is 35.09%.
Hedge funds have recently changed their stock holdings. Capital Research Global Investors increased its stake in International Game Technology by 115.5% in Q1. Capital Research Global Investors now owns 2,331,200 shares of the company valued at $57,534,000 after purchasing an additional 1,249,200 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in International Game Technology during Q1 worth $181,000. First Capital Advisors Group LLC. bought a new position in International Game Technology during Q1 worth $262,000. Goldman Sachs Group Inc. increased its stake in International Game Technology by 89.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,251,116 shares of the company valued at $30,878,000 after purchasing an additional 590,469 shares last quarter. Finally, JAT Capital Mgmt LP increased its stake in International Game Technology by 46.1% during the 1st quarter. JAT Capital Mgmt LP now owns 832,977 shares of the company valued at $20,558,000 after purchasing an additional 262,834 shares last quarter. 44.33% of the shares are held by institutional investors and hedge funds.
International Gaming Technology Company Profile (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.
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
Get news and reviews for International Game Technology Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for International Game Technology and related companies with MarketBeat.com’s FREE daily newsletter.