International Game Technology PLC (NYSE: IGT) Expected to Show Quarterly Sales of $ 962.21 Million


Wall Street analysts predict that International Game Technology PLC (NYSE: IGT) will post sales of $ 962.21 million for the current fiscal quarter, according to Zack. Three analysts have released earnings estimates for International Game Technology, with the lowest sales estimate at $ 916.00 million and the highest estimate at $ 1.01 billion. International Game Technology reported sales of $ 981.51 million in the same quarter last year, which would indicate a negative growth rate of 2% year-over-year. The company is expected to release its next results on Wednesday, November 10.

On average, analysts expect International Game Technology to report annual revenue of $ 4.00 billion for the current year, with estimates ranging from $ 3.91 billion to $ 4. 09 billion dollars. For next year, analysts predict the company will post sales of $ 4.09 billion, with estimates ranging from $ 3.92 billion to $ 4.23 billion. Zacks’ sales calculations are an average based on a survey of sales-side research analysts who provide coverage for International Game Technology.

International Game Technology (NYSE: IGT) last released its quarterly earnings data on Tuesday, August 3. The company reported ($ 0.48) earnings per share for the quarter, missing analyst consensus estimates of $ 0.23 per ($ 0.71). International Game Technology recorded a negative return on equity of 3.61% and a net margin of 0.71%. The company posted revenue of $ 1.04 billion in the quarter, compared to a consensus estimate of $ 926.69 million. During the same period last year, the company earned ($ 1.37) per share. The company’s revenue grew 73.5% year-on-year.

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Separately, 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 note on Thursday, September 23. Seven analysts rated the stock with a buy rating. According to MarketBeat, International Game Technology currently has an average “Buy” rating and a consensus price target of $ 26.00.

A number of hedge funds have recently changed their holdings in the company. Legal & General Group Plc increased its stake in International Game Technology shares by 0.8% in the second quarter. Legal & General Group Plc now owns 125,213 shares of the company valued at $ 3,001,000 after purchasing an additional 1,008 shares during the period. The New York State Common Retirement Fund increased its holdings of International Game Technology shares by 1.2% in the second quarter. The New York State Pooled Retirement Fund now owns 86,248 shares of the company valued at $ 2,067,000 after purchasing an additional 1,048 shares during the period. Optimum Investment Advisors purchased a new stake in shares of International Game Technology in the second quarter valued at approximately $ 34,000. Nisa Investment Advisors LLC increased its stake in International Game Technology by 30.1% in the second quarter. Nisa Investment Advisors LLC now owns 6,700 shares of the company valued at $ 161,000 after purchasing an additional 1,550 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in International Game Technology by 3.2% in the second quarter. Van ECK Associates Corp now owns 54,605 ​​shares of the company valued at $ 1,308,000 after purchasing an additional 1,677 shares in the last quarter. Institutional investors and hedge funds hold 42.78% of the company’s shares.

Shares of International Game Technology opened at $ 29.29 on Friday. The stock has a 50-day moving average of $ 22.58 and a 200-day moving average of $ 21.43. International Game Technology has a 12-month low of $ 7.68 and a 12-month high of $ 29.49. The company has a market cap of $ 6.00 billion, a PE ratio of 225.00 and a beta of 2.21. The company has a current ratio of 1.28, a quick ratio of 1.20, and a debt ratio of 3.61.

About International Game Technology

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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History and earnings estimates for International Game Technology (NYSE: IGT)

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