Equities analysts forecast that International Game Technology PLC (NYSE:IGT – Get Rating) will post sales of $1.03 billion for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for International Game Technology’s earnings, with the highest sales estimate coming in at $1.06 billion and the lowest estimate coming in at $1.02 billion. International Game Technology reported sales of $1.02 billion during the same quarter last year, which indicates a positive year over year growth rate of 1%. The company is scheduled to report its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that International Game Technology will report full-year sales of $4.15 billion for the current year, with estimates ranging from $4.04 billion to $4.26 billion. For the next year, analysts forecast that the company will post sales of $4.28 billion, with estimates ranging from $4.16 billion to $4.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover International Game Technology.
International Game Technology (NYSE:IGT – Get Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.30). The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.02 billion. International Game Technology had a net margin of 11.78% and a return on equity of 3.59%.
IGT has been the subject of a number of recent analyst reports. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, April 8th. Credit Suisse Group increased their price target on International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $43.20.
NYSE IGT traded up $0.05 on Wednesday, reaching $24.60. The company had a trading volume of 1,036,201 shares, compared to its average volume of 1,490,972. The stock’s 50-day moving average is $25.92 and its 200-day moving average is $27.29. The stock has a market cap of $5.01 billion, a price-to-earnings ratio of 10.56 and a beta of 1.98. The company has a quick ratio of 1.20, a current ratio of 1.30 and a debt-to-equity ratio of 3.29. International Game Technology has a 52 week low of $15.15 and a 52 week high of $32.95.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Tuesday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 14th. This represents a $0.80 annualized dividend and a dividend yield of 3.25%. International Game Technology’s dividend payout ratio is currently 34.33%.
Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of International Game Technology by 9.5% during the fourth quarter. BlackRock Inc. now owns 11,013,922 shares of the company’s stock worth $318,413,000 after buying an additional 955,108 shares during the period. Boston Partners boosted its position in shares of International Game Technology by 5.4% during the third quarter. Boston Partners now owns 6,962,134 shares of the company’s stock worth $179,958,000 after buying an additional 356,457 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of International Game Technology by 62.2% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,883,436 shares of the company’s stock worth $199,001,000 after buying an additional 2,639,187 shares during the period. Lazard Asset Management LLC boosted its position in shares of International Game Technology by 16.1% during the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company’s stock worth $173,074,000 after buying an additional 828,482 shares during the period. Finally, 140 Summer Partners LP boosted its position in shares of International Game Technology by 164.4% during the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company’s stock worth $73,901,000 after buying an additional 1,589,548 shares during the period. 44.33% of the stock is owned by institutional investors.
About International Game Technology (Get Rating)
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.
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