$1.03 billion in sales expected for International Game Technology PLC (NYSE:IGT) this quarter

Wall Street brokerages expect International Game Technology PLC (NYSE:IGT – Get a rating) to post $1.03 billion in sales for the current quarter, according to Zacks. Four analysts have made estimates of International Game Technology’s earnings, with the lowest sales estimate of $1.01 billion and the highest estimate of $1.06 billion. International Game Technology reported sales of $1.04 billion in the same quarter last year, indicating a negative 1% year-over-year growth rate. The company is due to release its next earnings report on Monday, January 1.

According to Zacks, analysts expect International Game Technology to report annual sales of $4.12 billion for the current year, with estimates ranging from $4.03 billion to $4.28 billion. dollars. For next year, analysts expect the company to record sales of $4.22 billion, with estimates ranging from $4.11 billion to $4.44 billion. Zacks sales calculations are an average average based on a survey of research companies that provide coverage for International Game Technology.

International Games Technology (NYSE: IGT – Get a rating) last released its quarterly results on Tuesday, May 10. The company reported earnings per share of $0.39 for the quarter, beating the consensus estimate of $0.34 by $0.05. International Game Technology achieved a net margin of 11.37% and a return on equity of 3.35%. The company posted revenue of $1.05 billion for the quarter, versus $1.04 billion for analysts. During the same period of the previous year, the company achieved EPS of $0.38. The company’s revenue increased 3.5% year over year.

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A number of research analysts have published reports on the stock. Credit Suisse Group raised its price target on International Game Technology shares from $59.00 to $63.00 and gave the stock an “outperform” rating in a Wednesday, March 2 research report . Deutsche Bank Aktiengesellschaft cut its price target on shares of International Game Technology from $39.00 to $37.00 in a Wednesday, May 11 research report. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a Tuesday, May 10 research report. Finally, Jefferies Financial Group upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the stock from $30.00 to $26.00 in a research report of Thursday, May 12. Six investment analysts have rated the stock with a buy rating. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $40.80.

NYSE:IGT shares opened at $19.07 on Wednesday. The company’s 50-day moving average price is $22.89 and its two-hundred-day moving average price is $25.82. International Game Technology has a 12 month minimum of $17.27 and a 12 month maximum of $32.95. The company has a market capitalization of $3.88 billion, a PE ratio of 8.36 and a beta of 1.93. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt ratio of 3.51.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 will receive a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 4.20%. The ex-dividend date is Monday, May 23. International Game Technology’s payout ratio is currently 35.09%.

Several hedge funds have recently increased or reduced their stake in IGT. Mitsubishi UFJ Trust & Banking Corp increased its stake in International Game Technology by 7.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,211 shares of the company worth $469,000 after buying 1,079 additional shares in the last quarter. 140 Summer Partners LP increased its stake in International Game Technology by 164.4% during the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company worth $73,901,000 after purchasing an additional 1,589,548 shares in the last quarter. Kestra Advisory Services LLC increased its stake in International Game Technology by 1.8% during the fourth quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company worth $757,000 after purchasing an additional 459 shares in the last quarter. Lazard Asset Management LLC increased its stake in International Game Technology by 16.1% during the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company worth $173,074,000 after purchasing an additional 828,482 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new position in International Game Technology during the third quarter at a value of $54,000. 44.33% of the shares are held by hedge funds and other institutional investors.

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.

Further reading

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Earnings history and estimates for International Game Technology (NYSE:IGT)

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