International Game Technology (IGT) Announces Quarterly Earnings, Misses Expectations By $0.05 EPS
International Game Technology (NYSE:IGT) announced its earnings results on Thursday. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by $0.05, AnalystRatingsNetwork.com reports. The company had revenue of $541.20 million for the quarter, compared to the consensus estimate of $554.29 million. During the same quarter in the previous year, the company posted $0.28 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis.
Shares of International Game Technology (NYSE:IGT) traded down 2.49% during mid-day trading on Thursday, hitting $17.65. The stock had a trading volume of 6,658,520 shares. International Game Technology has a 52 week low of $14.75 and a 52 week high of $21.20. The stock has a 50-day moving average of $17.61 and a 200-day moving average of $18.5. The company has a market cap of $4.393 billion and a P/E ratio of 17.57. International Game Technology also saw unusually large options trading activity on Tuesday. Stock traders purchased 12,673 call options on the stock. This represents an increase of 357% compared to the average daily volume of 2,774 call options.
Several analysts have recently commented on the stock. Analysts at Argus downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research note to investors on Tuesday, January 7th. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of International Game Technology in a research note to investors on Tuesday, December 3rd. They now have a $18.00 price target on the stock. Finally, analysts at Sterne Agee cut their price target on shares of International Game Technology from $25.00 to $21.50 in a research note to investors on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. International Game Technology presently has an average rating of “Hold” and an average price target of $18.95.
International Game Technology (NYSE:IGT)is a global gaming company specializing in the design, development, manufacture, and marketing of electronic gaming equipment and systems products, including online and mobile solutions.
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