International Game Technology PLC (NYSE:IGT) – Equity researchers at Truist Securities reduced their first-quarter 2022 earnings per share estimates for shares of International Game Technology in a research note released Thursday, January 13. Truist Securities analyst B. Jonas now expects the company to earn $0.28 per share for the quarter, down from its previous forecast of $0.29. Truist Securities also released estimates for International Game Technology Q2 2022 earnings at $0.26 EPS, Q3 2022 earnings at $0.31 EPS, Q4 2022 earnings at $0.37 EPS, FY2022 earnings at $1.22 EPS and FY2023 earnings at $1.66 EPS.
Several other stock analysts have also recently published reports on IGT. Deutsche Bank Aktiengesellschaft raised its price target on International Game Technology shares from $32.00 to $42.00 and gave the company a “buy” rating in a Wednesday, Nov. 10, report. Jefferies Financial Group downgraded International Game Technology from a “buy” rating to a “hold” rating and lowered its target price for the company from $38.00 to $33.00 in a Wednesday, November 17 research report. Berenberg Bank began covering International Game Technology in a research note on Tuesday, October 19. They issued a “buy” rating and a price target of $35.00 for the company. Stifel Nicolaus began covering International Game Technology in a research note on Thursday, December 16. They set a “buy” rating and a target price of $43.00 for the company. Finally, Credit Suisse Group raised its price target on International Game Technology from $36.00 to $57.00 and gave the company an “outperform” rating in a Wednesday, November 10 report. One analyst rated the stock with a hold rating and six rated the stock with a buy rating. According to data from MarketBeat, International Game Technology currently has a consensus rating of “Buy” and an average target price of $39.17.
Shares of IGT opened at $27.90 on Friday. The company has a market capitalization of $5.72 billion, a P/E ratio of 26.32 and a beta of 2.14. International Game Technology has a 12-month low of $15.11 and a 12-month high of $32.95. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt ratio of 3.24. The company has a fifty-day moving average price of $27.82 and a 200-day moving average price of $24.96. International Game Technology (NYSE:IGT) last released its quarterly results on Tuesday, November 9. The company reported earnings per share of $0.31 for the quarter, beating the consensus estimate of $0.21 by $0.10. International Game Technology achieved a net margin of 5.63% and a negative return on equity of 2.85%. The company posted revenue of $984.00 million for the quarter, versus a consensus estimate of $981.00 million. In the same quarter of the previous year, the company made earnings per share of $0.26. The company’s revenue for the quarter increased 20.6% year over year.
Several hedge funds and other institutional investors have recently changed their holdings in IGT. BlackRock Inc. increased its position in International Game Technology by 16.6% during the second quarter. BlackRock Inc. now owns 10,954,614 shares of the company valued at $262,471,000 after purchasing an additional 1,562,197 shares in the last quarter. Boston Partners increased its stake in International Game Technology by 5.4% in the third quarter. Boston Partners now owns 6,962,134 shares of the company worth $179,958,000 after purchasing an additional 356,457 shares last quarter. Lazard Asset Management LLC increased its position in International Game Technology shares by 9.6% during the second quarter. Lazard Asset Management LLC now owns 4,790,917 shares of the company valued at $114,790,000 after acquiring an additional 417,737 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of International Game Technology by 55.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,244,249 shares of the company valued at $111,709,000 after acquiring an additional 1,506,542 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in International Game Technology shares by 12.1% during the second quarter. Neuberger Berman Group LLC now owns 3,278,448 shares of the company valued at $77,847,000 after acquiring 354,328 additional shares in the last quarter. Institutional investors and hedge funds hold 43.77% of the company’s shares.
The company also recently declared a quarterly dividend, which was paid on Tuesday, December 7. Investors of record on Tuesday, November 23 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 2.87%. The ex-dividend date was Monday, November 22. International Game Technology’s dividend payout ratio (DPR) is 75.47%.
International 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 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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