Wall Street analysts predict that International Game Technology PLC (NYSE:IGT) will post $1.17 billion in sales for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for International Game Technology’s earnings, with estimates ranging from $1.13 billion to $1.21 billion. International Game Technology reported sales of $1.16 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.9%. The business is scheduled to report its next earnings results on Wednesday, October 30th.
On average, analysts expect that International Game Technology will report full year sales of $4.78 billion for the current financial year, with estimates ranging from $4.69 billion to $4.85 billion. For the next fiscal year, analysts expect that the business will post sales of $4.86 billion, with estimates ranging from $4.77 billion to $4.93 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover International Game Technology.
International Game Technology (NYSE:IGT) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.44 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.13. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a negative net margin of 0.72% and a positive return on equity of 8.51%. International Game Technology’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 earnings per share.
Separately, ValuEngine upgraded shares of International Game Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $23.64.
Several institutional investors have recently added to or reduced their stakes in the company. NumerixS Investment Technologies Inc grew its position in shares of International Game Technology by 13.6% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,000 shares of the company’s stock worth $130,000 after buying an additional 1,200 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of International Game Technology by 44.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 5,697 shares of the company’s stock worth $74,000 after buying an additional 1,751 shares during the last quarter. BlackRock Inc. grew its position in shares of International Game Technology by 24.8% in the 2nd quarter. BlackRock Inc. now owns 2,947,130 shares of the company’s stock worth $38,224,000 after buying an additional 585,100 shares during the last quarter. Deprince Race & Zollo Inc. grew its position in shares of International Game Technology by 9.2% in the 2nd quarter. Deprince Race & Zollo Inc. now owns 1,385,974 shares of the company’s stock worth $17,976,000 after buying an additional 116,470 shares during the last quarter. Finally, Parametric Portfolio Associates LLC grew its position in shares of International Game Technology by 6.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 262,257 shares of the company’s stock worth $3,401,000 after buying an additional 15,364 shares during the last quarter. Hedge funds and other institutional investors own 41.76% of the company’s stock.
International Game Technology stock opened at $13.06 on Wednesday. The business has a 50-day moving average price of $13.34. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.05 and a beta of 1.28. The company has a quick ratio of 0.74, a current ratio of 0.83 and a debt-to-equity ratio of 2.87. International Game Technology has a 12-month low of $12.11 and a 12-month high of $21.94.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 annualized dividend and a dividend yield of 6.13%. International Game Technology’s dividend payout ratio (DPR) is presently 81.63%.
About International Game Technology
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.
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