Analysts Anticipate International Game Technology PLC (IGT) Will Post Earnings of $0.25 Per Share

Wall Street analysts expect International Game Technology PLC (NYSE:IGT) to report earnings per share (EPS) of $0.25 for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for International Game Technology’s earnings. The lowest EPS estimate is $0.11 and the highest is $0.43. International Game Technology reported earnings of $0.15 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 66.7%. The firm is expected to report its next earnings results on Monday, May 20th.

On average, analysts expect that International Game Technology will report full year earnings of $1.26 per share for the current financial year, with EPS estimates ranging from $0.85 to $1.82. For the next fiscal year, analysts forecast that the company will post earnings of $1.44 per share, with EPS estimates ranging from $1.13 to $1.95. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover International Game Technology.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Thursday, March 7th. The company reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.11). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.27 billion. International Game Technology had a positive return on equity of 7.64% and a negative net margin of 0.44%. The business’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.02 EPS.

Several analysts have recently commented on IGT shares. Susquehanna Bancshares started coverage on shares of International Game Technology in a report on Friday, December 7th. They issued a “positive” rating and a $22.00 target price for the company. Jefferies Financial Group set a $29.00 target price on shares of International Game Technology and gave the company a “buy” rating in a report on Thursday, December 20th. ValuEngine downgraded shares of International Game Technology from a “hold” rating to a “sell” rating in a report on Friday, December 21st. Deutsche Bank reiterated a “buy” rating and issued a $29.00 target price on shares of International Game Technology in a report on Monday, December 24th. Finally, SunTrust Banks upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $23.64.

Large investors have recently modified their holdings of the business. Marshall Wace North America L.P. grew its holdings in shares of International Game Technology by 41.3% in the third quarter. Marshall Wace North America L.P. now owns 5,747,367 shares of the company’s stock worth $113,510,000 after purchasing an additional 1,680,947 shares during the last quarter. Norges Bank purchased a new stake in shares of International Game Technology during the 4th quarter valued at about $20,893,000. TIAA CREF Investment Management LLC increased its position in shares of International Game Technology by 336.8% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,564,264 shares of the company’s stock valued at $30,894,000 after purchasing an additional 1,206,152 shares during the last quarter. Samlyn Capital LLC increased its position in shares of International Game Technology by 29.0% during the 4th quarter. Samlyn Capital LLC now owns 5,348,778 shares of the company’s stock valued at $78,252,000 after purchasing an additional 1,202,082 shares during the last quarter. Finally, Teachers Advisors LLC increased its position in shares of International Game Technology by 560.9% during the 3rd quarter. Teachers Advisors LLC now owns 861,074 shares of the company’s stock valued at $17,006,000 after purchasing an additional 730,783 shares during the last quarter. Hedge funds and other institutional investors own 48.14% of the company’s stock.

Shares of IGT stock traded down $0.08 on Thursday, hitting $13.37. The stock had a trading volume of 69,903 shares, compared to its average volume of 4,368,966. The company has a market cap of $2.75 billion, a P/E ratio of 13.71, a P/E/G ratio of 1.03 and a beta of 1.32. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.14 and a quick ratio of 1.00. International Game Technology has a 12-month low of $12.65 and a 12-month high of $31.00.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Thursday, March 21st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, March 20th. This represents a $0.80 dividend on an annualized basis and a yield of 5.98%. International Game Technology’s dividend payout ratio is presently 81.63%.

International Game Technology Company Profile

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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