Stock analysts expect International Game Technology PLC (NYSE:IGT – Get Rating) to report sales of $1.03 billion in the current quarter, Zacks reports. Four analysts have made earnings estimates for International Game Technology. The highest sales estimate is $1.06 billion and the lowest is $1.01 billion. International Game Technology reported sales of $1.04 billion in the same quarter last year, indicating a negative 1% year-over-year growth rate. The company is expected to release its next earnings report on Monday, January 1.
On average, analysts expect International Game Technology to report annual sales of $4.12 billion in the current fiscal year, with estimates ranging from $4.03 billion to $4.28 billion. dollars. For next year, analysts expect the company to post sales of $4.22 billion, with estimates ranging from $4.11 billion to $4.44 billion. Zacks Investment Research’s sales averages are an average average based on a survey of sell-side analysts who track International Game Technology.
International Game Technology (NYSE:IGT – Get Rating) last released its quarterly results on Tuesday, May 10. The company reported earnings per share of $0.39 for the quarter, beating analyst consensus estimates of $0.34 by $0.05. The company posted revenue of $1.05 billion in the quarter, against analyst estimates of $1.04 billion. International Game Technology achieved a net margin of 11.37% and a return on equity of 3.35%. The company’s revenue increased 3.5% year over year. In the same period a year earlier, the company posted earnings per share of $0.38.
A number of stock analysts have weighed in on IGT shares. Deutsche Bank Aktiengesellschaft lowered its price target on shares of International Game Technology from $39.00 to $37.00 in a Wednesday, May 11 research report. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a Tuesday, May 10 research note. Jefferies Financial Group moved shares of 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 rating note. research of Thursday, May 12. Finally, Credit Suisse Group raised its price target on shares of International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a Wednesday 2 march. Six research analysts have rated the stock with a buy rating. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $40.80.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Parkside Financial Bank & Trust increased its holdings of International Game Technology shares by 84.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company worth $29,000 after buying an additional 534 shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in International Game Technology during Q1 worth approximately $34,000. Steward Partners Investment Advisory LLC increased its holdings in International Game Technology by 100.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company worth $35,000 after acquiring 600 additional shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in International Game Technology during Q1 worth approximately $49,000. Finally, Dark Forest Capital Management LP bought a new position in International Game Technology during Q3 worth approximately $54,000. Hedge funds and other institutional investors hold 44.33% of the company’s shares.
IGT opened at $19.07 on Wednesday. The company has a market capitalization of $3.88 billion, a P/E ratio of 8.36 and a beta of 1.93. 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 simple moving average of $22.89 and a two-hundred-day simple moving average of $25.82. The company has a debt ratio of 3.51, a current ratio of 1.43 and a quick ratio of 1.33.
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. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 4.20%. The ex-date of this dividend is Monday, May 23. International Game Technology’s payout ratio is currently 35.09%.
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.
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