Wall Street brokerages expect that International Game Technology (NYSE:IGT) will report sales of $1.17 billion for the current fiscal quarter, according to Zacks Investment Research. Six 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 $1.20 billion. International Game Technology reported sales of $1.27 billion in the same quarter last year, which indicates a negative year over year growth rate of 7.9%. The firm is expected to announce its next quarterly earnings results on Monday, November 20th.

On average, analysts expect that International Game Technology will report full year sales of $1.17 billion for the current year, with estimates ranging from $4.75 billion to $4.92 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $4.92 billion per share, with estimates ranging from $4.75 billion to $5.11 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for International Game Technology.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.17). International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the business posted $0.43 EPS. The company’s revenue for the quarter was down 5.1% on a year-over-year basis.

Several equities research analysts have commented on the stock. Deutsche Bank AG assumed coverage on shares of International Game Technology in a research note on Tuesday, September 26th. They issued a “buy” rating and a $30.00 price objective for the company. Bank of America Corporation raised shares of International Game Technology from a “neutral” rating to a “buy” rating and increased 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, BidaskClub downgraded shares of International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $28.13.

International Game Technology (NYSE IGT) traded down 0.42% during trading on Thursday, reaching $23.79. The company had a trading volume of 2,221,355 shares. The company has a 50-day moving average price of $22.87 and a 200 day moving average price of $20.78. The company’s market capitalization is $4.83 billion. International Game Technology has a one year low of $17.25 and a one year high of $32.07.

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Several institutional investors have recently added to or reduced their stakes in IGT. PNC Financial Services Group Inc. grew its position in shares of International Game Technology by 38.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock valued at $118,000 after acquiring an additional 1,398 shares during the period. SG Americas Securities LLC bought a new position in shares of International Game Technology during the 1st quarter valued at approximately $125,000. Pinnacle Associates Ltd. grew its position 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 valued at $210,000 after acquiring an additional 1,445 shares during the period. Cadence Capital Management LLC grew its position 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 valued at $232,000 after acquiring an additional 1,948 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in shares of International Game Technology during the 2nd quarter valued at approximately $273,000. 38.98% of the stock is owned by hedge funds and other institutional investors.

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

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