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.

A number of analysts have issued reports on the stock. Argus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research note on Wednesday, November 29th. Deutsche Bank boosted their price target on shares of International Game Technology to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. Bank of America boosted their price target on shares of International Game Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, November 15th. Finally, ValuEngine upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $30.70.

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

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