Equities research analysts forecast that International Game Technology (NYSE:IGT) will announce earnings per share (EPS) of $0.39 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for International Game Technology’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.46. International Game Technology posted earnings of $0.88 per share in the same quarter last year, which would suggest a negative year over year growth rate of 55.7%. The firm is expected to report its next earnings report on Thursday, March 8th.
According to Zacks, analysts expect that International Game Technology will report full-year earnings of $1.23 per share for the current year, with EPS estimates ranging from $1.18 to $1.30. For the next financial year, analysts forecast that the firm will report earnings of $1.37 per share, with EPS estimates ranging from $1.02 to $1.55. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover International Game Technology.
International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.16. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.45 earnings per share.
A number of research firms recently weighed in on IGT. Deutsche Bank began coverage on shares of International Game Technology in a research report on Tuesday, September 26th. They issued a “buy” rating and a $30.00 target price for the company. Bank of America raised shares of International Game Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $30.00 in a research report on Wednesday, September 20th. ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Argus raised shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. International Game Technology currently has an average rating of “Buy” and a consensus target price of $30.70.
International Game Technology (NYSE:IGT) traded down $0.11 during trading on Friday, reaching $26.32. 614,100 shares of the company were exchanged, compared to its average volume of 1,512,567. The company has a market capitalization of $5,350.23, a P/E ratio of -5.85 and a beta of 1.56. International Game Technology has a 1-year low of $17.25 and a 1-year high of $29.36. The company has a current ratio of 0.84, a quick ratio of 0.70 and a debt-to-equity ratio of 2.66.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 28th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, November 27th. International Game Technology’s dividend payout ratio (DPR) is presently -17.78%.
Institutional investors and hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its position in shares of International Game Technology by 101.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock valued at $116,000 after acquiring an additional 2,911 shares during the period. Sigma Planning Corp acquired a new stake in shares of International Game Technology during the 3rd quarter worth about $214,000. Pinnacle Associates Ltd. lifted its stake in shares of International Game Technology by 14.4% during the 2nd quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock worth $210,000 after buying an additional 1,445 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its stake in shares of International Game Technology by 3,030.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,644 shares of the company’s stock worth $286,000 after buying an additional 11,272 shares during the last quarter. Finally, Cadence Capital Management LLC lifted its stake in shares of International Game Technology by 18.2% during the 2nd quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock worth $232,000 after buying an additional 1,948 shares during the last quarter. 40.64% of the stock is owned by institutional investors.
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International Game Technology Company Profile
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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