$1.03 billion in sales expected for International Game Technology PLC (NYSE:IGT) this quarter
Equity research analysts predict that International Game Technology PLC (New York Stock Exchange: IGT – Get a rating) will post $1.03 billion in sales for the current quarter, according to Zacks. Four analysts provided earnings estimates for International Game Technology, with the lowest sales estimate at $1.02 billion and the highest estimate at $1.06 billion. International Game Technology reported sales of $1.02 billion in the same quarter last year, indicating a positive year-over-year growth rate of 1%. The company is expected to release its next quarterly results before the market opens on Monday, January 1.
On average, analysts expect International Game Technology to report annual sales of $4.15 billion for the current year, with estimates ranging from $4.04 billion to $4.26 billion. dollars. For the next fiscal year, analysts expect the company to record sales of $4.28 billion, with estimates ranging from $4.16 billion to $4.47 billion. Zacks sales averages are an average based on a survey of research analysts who provide coverage for International Game Technology.
International game technology (New York Stock Exchange: IGT – Get a rating) last released its quarterly earnings data on Tuesday, March 1. The company reported earnings per share (EPS) of $0.09 for the quarter, missing analyst consensus estimates of $0.39 per ($0.30). The company posted revenue of $1.05 billion for the quarter, versus a consensus estimate of $1.02 billion. International Game Technology achieved a net margin of 11.78% and a return on equity of 3.59%.
A number of analysts have weighed in on IGT shares. StockNews.com upgraded International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday. Credit Suisse Group raised its price target on International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a research report Wednesday, March 2. Two investment analysts gave the stock a hold rating and four gave the company a buy rating. Based on data from MarketBeat.com, International Game Technology has a consensus rating of “Buy” and an average price target of $43.20.
A number of institutional investors have been buying and selling shares of IGT recently. FMR LLC increased its stake in International Game Technology by 222.8% in the first quarter. FMR LLC now owns 2,057,614 shares of the company worth $26,729,000 after purchasing an additional 1,420,212 shares in the last quarter. Morgan Stanley increased its stake in International Game Technology by 147.7% in the second quarter. Morgan Stanley now owns 1,248,905 shares of the company worth $29,924,000 after purchasing an additional 744,706 shares last quarter. Commonwealth Equity Services LLC increased its stake in International Game Technology by 15.9% in the third quarter. Commonwealth Equity Services LLC now owns 13,691 shares of the company worth $360,000 after purchasing an additional 1,883 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of International Game Technology by 1.3% during the third quarter. Van ECK Associates Corp now owns 55,330 shares of the company valued at $1,456,000 after acquiring an additional 725 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in shares of International Game Technology by 19.9% during the third quarter. PNC Financial Services Group Inc. now owns 3,612 shares of the company valued at $96,000 after acquiring an additional 600 shares during the period. 44.33% of the shares are currently held by institutional investors.
IGT opened at $22.47 on Wednesday. The stock has a market capitalization of $4.58 billion, a PE ratio of 9.64 and a beta of 1.93. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt ratio of 3.29. International Game Technology has a 1-year minimum of $16.26 and a 1-year maximum of $32.95. The stock’s 50-day simple moving average is $24.34 and its 200-day simple moving average is $26.83.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 29. Shareholders of record on Tuesday, March 15 received a dividend of $0.20. This represents a dividend of $0.80 on an annualized basis and a yield of 3.56%. The ex-dividend date was Monday, March 14. International Game Technology’s dividend payout ratio is currently 34.33%.
About International Gaming Technology (Get a rating)
International Game Technology PLC operates and provides game 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 the 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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