Analysts Expect International Game Technology PLC (NYSE: IGT) to Show Quarterly Sales of $ 974.92 Million
Brokerages predict that International Game Technology PLC (NYSE: IGT) will bring in sales of $ 974.92 million for the current fiscal quarter, according to Zack. Three analysts provided earnings estimates for International Game Technology. The lowest sales estimate is $ 954.00 million and the highest is $ 1.01 billion. International Game Technology recorded sales of $ 981.51 million in the same quarter of last year, suggesting a negative growth rate of 0.7% year-over-year. The company is expected to release its next quarterly results before the market opens on Tuesday, November 9.
According to Zacks, analysts expect International Game Technology to report annual revenue of $ 4.02 billion for the current fiscal year, with estimates ranging from $ 3.96 billion to $ 4 billion. 09 billion dollars. For the next fiscal year, analysts predict the company will post revenue of $ 4.11 billion, with estimates ranging from $ 3.99 billion to $ 4.23 billion. Zacks’ sales averages are an average based on a survey of research analysts who follow International Game Technology.
International Game Technology (NYSE: IGT) last released its quarterly results on Tuesday, August 3. The company reported ($ 0.48) EPS for the quarter, missing the consensus estimate of $ 0.23 of ($ 0.71). International Game Technology recorded a negative return on equity of 3.61% and a net margin of 0.71%. The company posted revenue of $ 1.04 billion for the quarter, compared to analysts’ estimates of $ 926.69 million. During the same period last year, the company posted EPS ($ 1.37). The company’s revenue for the quarter increased 73.5% year-over-year.
Several research companies have recently published reports on IGT. Credit Suisse Group raised its price target for International Game Technology shares from $ 35 to $ 36.00 and gave the stock an “outperformance” rating in a research report on Thursday, September 23. Berenberg Bank began covering shares of International Game Technology in a research report on Tuesday, October 19. They issued a “buy” rating and a price target of $ 35 for the company. Eight investment analysts rated the stock with a buy rating. According to MarketBeat, the company currently has an average “Buy” rating and a consensus price target of $ 27.29.
Several hedge funds have recently changed their positions in the company. BlackRock Inc. increased its stake in International Game Technology shares by 16.6% in the second quarter. BlackRock Inc. now owns 10,954,614 shares of the company valued at $ 262,471,000 after purchasing an additional 1,562,197 shares during the period. Boston Partners increased its stake in International Game Technology shares by 2.6% in the second quarter. Boston Partners now owns 6,605,677 shares of the company valued at $ 158,151,000 after purchasing an additional 164,273 shares during the period. Lazard Asset Management LLC increased its stake in International Game Technology shares by 9.6% in the second quarter. Lazard Asset Management LLC now owns 4,790,917 shares of the company valued at $ 114,790,000 after purchasing an additional 417,737 shares during the period. Davide Leone & Partners Investment Co Ltd. increased its stake in International Game Technology shares by 34.3% in the first quarter. Davide Leone & Partners Investment Co Ltd. now owns 3,564,618 shares of the company valued at $ 57,212,000 after purchasing an additional 910,707 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in the shares of International Game Technology by 12.1% in the second quarter. Neuberger Berman Group LLC now owns 3,278,448 shares of the company valued at $ 77,847,000 after purchasing an additional 354,328 shares during the period. Institutional investors and hedge funds hold 42.78% of the company’s shares.
International stock of gaming technology open at $ 31.90 Wednesday. International Game Technology has a 52 week low of $ 8.64 and a 52 week high of $ 32.09. The company has a fifty-day moving average of $ 25.39 and a 200-day moving average of $ 22.68. The company has a market cap of $ 6.53 billion, a P / E ratio of 245.38 and a beta of 2.04. The company has a quick ratio of 1.20, a current ratio of 1.28 and a debt ratio of 3.61.
About International Game Technology
International Game Technology Plc is engaged in the design, manufacture and marketing of electronic game equipment, software and network systems. It operates through the Global Lottery and Global Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.
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