Wall Street analysts predict that International Game Technology (NYSE:IGT) will post $1.25 billion in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for International Game Technology’s earnings, with estimates ranging from $1.23 billion to $1.28 billion. International Game Technology posted sales of $1.32 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.3%. The business is scheduled to issue its next quarterly earnings results on Thursday, March 8th.
On average, analysts expect that International Game Technology will report full-year sales of $1.25 billion for the current year, with estimates ranging from $4.82 billion to $4.87 billion. For the next fiscal year, analysts expect that the business will report sales of $4.91 billion per share, with estimates ranging from $4.88 billion to $5.00 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover International Game Technology.
International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.16. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The business’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.45 earnings per share.
Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System increased its stake in shares of International Game Technology by 3.4% during the second quarter. California State Teachers Retirement System now owns 199,045 shares of the company’s stock worth $3,643,000 after buying an additional 6,537 shares during the period. Brookstone Capital Management purchased a new stake in shares of International Game Technology during the second quarter worth approximately $286,000. Korea Investment CORP purchased a new stake in shares of International Game Technology during the third quarter worth approximately $2,946,000. Marshall Wace North America L.P. purchased a new stake in shares of International Game Technology during the second quarter worth approximately $4,357,000. Finally, Cipher Capital LP increased its stake in shares of International Game Technology by 169.7% during the second quarter. Cipher Capital LP now owns 153,253 shares of the company’s stock worth $2,805,000 after buying an additional 96,439 shares during the period. Hedge funds and other institutional investors own 40.64% of the company’s stock.
Shares of International Game Technology (IGT) opened at $27.15 on Thursday. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.70 and a current ratio of 0.84. The stock has a market cap of $5,473.71, a PE ratio of 15.72 and a beta of 1.56. International Game Technology has a one year low of $17.25 and a one year high of $29.36.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.95%. International Game Technology’s payout ratio is -17.78%.
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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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