Brokerages expect International Game Technology PLC (NYSE:IGT) to post $0.35 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for International Game Technology’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.39. International Game Technology posted earnings of $0.68 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 48.5%. The company is expected to announce its next earnings results on Thursday, March 14th.
On average, analysts expect that International Game Technology will report full-year earnings of $1.10 per share for the current financial year, with EPS estimates ranging from $1.03 to $1.14. For the next year, analysts forecast that the company will report earnings of $1.63 per share, with EPS estimates ranging from $1.38 to $2.02. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for International Game Technology.
International Game Technology (NYSE:IGT) last announced its earnings results on Wednesday, October 31st. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. International Game Technology had a net margin of 3.27% and a return on equity of 11.52%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was down 5.3% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of International Game Technology from a “strong sell” rating to a “sell” rating in a research note on Monday, November 26th. Argus cut their price target on shares of International Game Technology from $28.00 to $20.00 and set a “buy” rating for the company in a report on Friday, November 16th. Deutsche Bank cut their price target on shares of International Game Technology from $35.00 to $29.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Jefferies Financial Group cut their price target on shares of International Game Technology from $35.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Finally, Societe Generale initiated coverage on shares of International Game Technology in a report on Wednesday, October 17th. They set a “buy” rating and a $20.50 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $25.21.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. OppenheimerFunds Inc. raised its holdings in International Game Technology by 0.4% during the second quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock worth $150,342,000 after purchasing an additional 25,389 shares in the last quarter. Rubric Capital Management LP increased its holdings in International Game Technology by 65.9% in the third quarter. Rubric Capital Management LP now owns 3,850,000 shares of the company’s stock valued at $76,038,000 after buying an additional 1,530,000 shares in the last quarter. Jennison Associates LLC increased its holdings in International Game Technology by 21.4% in the third quarter. Jennison Associates LLC now owns 1,900,091 shares of the company’s stock valued at $37,527,000 after buying an additional 334,822 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in International Game Technology by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 1,871,808 shares of the company’s stock valued at $36,968,000 after buying an additional 6,156 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in International Game Technology by 50.7% in the third quarter. Vanguard Group Inc. now owns 1,700,216 shares of the company’s stock valued at $33,580,000 after buying an additional 571,981 shares in the last quarter. 51.70% of the stock is owned by hedge funds and other institutional investors.
Shares of IGT traded down $0.09 during mid-day trading on Monday, hitting $16.58. 341,893 shares of the company’s stock were exchanged, compared to its average volume of 3,388,211. International Game Technology has a fifty-two week low of $14.14 and a fifty-two week high of $31.00. The company has a market capitalization of $3.40 billion, a price-to-earnings ratio of 10.90, a price-to-earnings-growth ratio of 1.51 and a beta of 1.27. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.88 and a current ratio of 1.03.
The company also recently declared a quarterly dividend, which was paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 13th. This represents a $0.80 annualized dividend and a yield of 4.83%. International Game Technology’s dividend payout ratio is currently 52.63%.
International Game Technology Company Profile
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.
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