International Game Technology PLC (NYSE:IGT) – Equities researchers at Truist Securities cut their Q1 2022 earnings per share (EPS) estimates for shares of International Game Technology in a report issued on Thursday, January 13th. Truist Securities analyst B. Jonas now anticipates that the company will post earnings of $0.28 per share for the quarter, down from their previous forecast of $0.29. Truist Securities also issued estimates for International Game Technology’s 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.
International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, November 9th. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.10. The firm had revenue of $984.00 million for the quarter, compared to analyst estimates of $981.00 million. International Game Technology had a net margin of 5.63% and a negative return on equity of 2.85%. The business’s quarterly revenue was up 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.26 earnings per share.
NYSE:IGT opened at $27.96 on Friday. The firm has a market capitalization of $5.73 billion, a P/E ratio of 26.26 and a beta of 2.14. International Game Technology has a 1-year low of $15.11 and a 1-year high of $32.95. The company’s fifty day moving average price is $27.82 and its 200-day moving average price is $24.96. The company has a debt-to-equity ratio of 3.24, a current ratio of 1.31 and a quick ratio of 1.21.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 7th. Shareholders of record on Tuesday, November 23rd were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.86%. The ex-dividend date was Monday, November 22nd. International Game Technology’s payout ratio is 75.47%.
Institutional investors and hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. purchased a new position in International Game Technology during the third quarter valued at $29,000. Ellevest Inc. lifted its holdings in International Game Technology by 320.1% during the third quarter. Ellevest Inc. now owns 1,189 shares of the company’s stock valued at $31,000 after purchasing an additional 906 shares in the last quarter. Dark Forest Capital Management LP purchased a new position in International Game Technology during the third quarter valued at $54,000. FORA Capital LLC purchased a new position in shares of International Game Technology in the second quarter worth about $92,000. Finally, PNC Financial Services Group Inc. lifted its stake in shares of International Game Technology by 19.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,612 shares of the company’s stock worth $96,000 after buying an additional 600 shares in the last quarter. 43.77% of the stock is currently owned by institutional investors and hedge funds.
About International Game Technology
International Game Technology Plc engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery and Global Gaming segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.
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