Analysts expect that International Game Technology (NYSE:IGT) will announce sales of $1.20 billion for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for International Game Technology’s earnings, with the lowest sales estimate coming in at $1.14 billion and the highest estimate coming in at $1.24 billion. International Game Technology reported sales of $1.29 billion during the same quarter last year, which indicates a negative year-over-year growth rate of 7%. The business is expected to report its next quarterly earnings report on Thursday, July 27th.

On average, analysts expect that International Game Technology will report full year sales of $1.20 billion for the current financial year, with estimates ranging from $4.68 billion to $4.91 billion. For the next year, analysts expect that the business will report sales of $4.89 billion per share, with estimates ranging from $4.71 billion to $5.16 billion. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for International Game Technology.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Thursday, May 25th. The company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by $0.19. The company had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.18 billion. International Game Technology had a return on equity of 11.97% and a net margin of 4.96%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS.

A number of equities analysts recently issued reports on IGT shares. Argus lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Wells Fargo & Company reiterated a “market perform” rating and issued a $25.50 target price on shares of International Game Technology in a research report on Wednesday, April 19th. Telsey Advisory Group decreased their target price on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating for the company in a research report on Friday, May 26th. Bank of America Corporation reiterated a “neutral” rating and issued a $27.00 target price (up previously from $22.00) on shares of International Game Technology in a research report on Sunday, May 28th. Finally, ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. International Game Technology presently has an average rating of “Hold” and an average price target of $27.38.

International Game Technology (IGT) traded up 0.43% during mid-day trading on Friday, reaching $18.60. 590,234 shares of the company were exchanged. International Game Technology has a 12 month low of $17.25 and a 12 month high of $32.07. The company’s 50 day moving average price is $19.04 and its 200-day moving average price is $23.49. The stock has a market capitalization of $3.77 billion, a P/E ratio of 15.09 and a beta of 1.42.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 22nd. Stockholders of record on Thursday, June 8th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 6th. This represents a $0.80 annualized dividend and a dividend yield of 4.32%. International Game Technology’s dividend payout ratio (DPR) is 65.04%.

Institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in International Game Technology during the fourth quarter valued at $45,299,000. FMR LLC raised its position in International Game Technology by 188.8% in the fourth quarter. FMR LLC now owns 1,742,955 shares of the company’s stock valued at $44,480,000 after buying an additional 1,139,365 shares during the period. Bank of New York Mellon Corp raised its position in International Game Technology by 573.7% in the first quarter. Bank of New York Mellon Corp now owns 1,211,062 shares of the company’s stock valued at $28,701,000 after buying an additional 1,031,286 shares during the period. Prudential Financial Inc. raised its position in International Game Technology by 243.1% in the first quarter. Prudential Financial Inc. now owns 1,222,646 shares of the company’s stock valued at $28,977,000 after buying an additional 866,281 shares during the period. Finally, Alliancebernstein L.P. raised its position in International Game Technology by 64.5% in the first quarter. Alliancebernstein L.P. now owns 892,907 shares of the company’s stock valued at $21,162,000 after buying an additional 350,000 shares during the period. Institutional investors own 39.78% of the company’s stock.

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About International Game Technology

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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Earnings History and Estimates for International Game Technology (NYSE:IGT)

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