International Game Technology PLC (NYSE: IGT) – Investment analysts at Truist Securiti lowered their earnings per share (EPS) estimates for fiscal 2023 for shares of International Game Technology in a research report released on Friday 22 October. Truist Securiti analyst B. Jonas now predicts the company will post earnings of $ 1.44 per share for the year, down from its previous forecast of $ 1.45. International Game Technology (NYSE: IGT) last announced its results on Tuesday, August 3. The company reported ($ 0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of $ 0.23 of ($ 0.71). The company posted revenue of $ 1.04 billion for the quarter, compared to a consensus estimate of $ 926.69 million. International Game Technology posted a net margin of 0.71% and a negative return on equity of 3.61%. The company’s turnover increased by 73.5% compared to the same quarter last year. During the same period last year, the company posted EPS ($ 1.37).
Several other analysts have also recently published reports on the company. Credit Suisse Group increased its price target on International Game Technology from $ 35 to $ 36.00 and gave the company an “outperformance” rating in a research report on Thursday, September 23. The Berenberg Bank launched a cover on International Game Technology in a research report on Tuesday, October 19. They issued a âbuyâ rating and a price target of $ 35 for the company. Eight equity research analysts rated the stock with a buy rating. According to MarketBeat data, the stock has an average rating of âBuyâ and an average price target of $ 27.29.
Actions of NYSE IGT open for $ 29.37 Monday. The company has a current ratio of 1.28, a quick ratio of 1.20, and a debt ratio of 3.61. The stock has a market cap of $ 6.02 billion, a PE ratio of 225.92 and a beta of 2.21. The stock’s fifty-day simple moving average is $ 23.18 and its two-hundred-day simple moving average is $ 21.78. International Game Technology has a 12-month low of $ 7.68 and a 12-month high of $ 30.44.
Institutional investors and hedge funds have recently changed their holdings in the company. Baillie Gifford & Co. acquired a new stake in International Game Technology during the 3rd quarter for approximately $ 29,000. Ellevest Inc. increased its position in International Game Technology by 320.1% during the 3rd quarter. Ellevest Inc. now owns 1,189 shares of the company valued at $ 31,000 after acquiring 906 additional shares during the period. Captrust Financial Advisors acquired a new stake in International Game Technology during the 1st quarter for a value of approximately $ 32,000. Optimum Investment Advisors acquired a new stake in International Game Technology during the second quarter for a value of approximately $ 34,000. Finally, Federated Hermes Inc. acquired a new stake in International Game Technology during the 1st quarter for a value of approximately $ 82,000. 42.78% of the capital is held by institutional investors.
Global 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 the 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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