Earnings per share of $0.35 expected for International Game Technology PLC (NYSE:IGT) this quarter
Stock analysts predict that International Game Technology PLC (New York Stock Exchange: IGT – Get a rating) will show earnings per share of $0.35 for the current fiscal quarter, Zacks reports. Four analysts released earnings estimates for International Game Technology, with the highest EPS estimate of $0.52 and the lowest estimate of $0.25. International Game Technology reported earnings per share of ($0.48) in the same quarter last year, which would indicate a positive growth rate of 172.9% year over year. The company is expected to announce its next quarterly results on Monday, January 1.
According to Zacks, analysts expect International Game Technology to report annual earnings of $1.40 per share for the current year, with EPS estimates ranging from $1.02 to $1.92. For the next fiscal year, analysts expect the company to post earnings of $1.77 per share, with EPS estimates ranging from $1.03 to $2.38. Zacks earnings per share calculations 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 results on Tuesday, May 10. The company reported EPS of $0.39 for the quarter, beating the consensus estimate of $0.33 by $0.06. The company posted revenue of $1.05 billion in the quarter, against analyst estimates of $1.04 billion. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company’s quarterly revenue increased by 3.5% compared to the same quarter last year. In the same period a year earlier, the company posted earnings per share of $0.38.
IGT has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $39.00 to $37.00 in a Wednesday, May 11 research note. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the company from $30.00 to $26.00 in a Thursday research note May 12. 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 Wednesday, March 2 research note. To finish, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Tuesday, May 10 research note. Six research analysts have rated the stock with a buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $40.80.
Shares of NYSEIGT opened at $20.60 on Monday. The company has a debt ratio of 3.51, a current ratio of 1.43 and a quick ratio of 1.33. International Game Technology has a 1-year minimum of $17.27 and a 1-year maximum of $32.95. The company has a 50-day moving average of $23.04 and a 200-day moving average of $25.94. The company has a market capitalization of $4.20 billion, a price-earnings ratio of 9.04 and a beta of 1.93.
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 a dividend of $0.80 on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, May 23. International Game Technology’s payout rate is 35.09%.
Hedge funds have recently changed their equity holdings. Capital Research Global Investors increased its stake in International Game Technology by 115.5% in Q1. Capital Research Global Investors now owns 2,331,200 shares of the company valued at $57,534,000 after purchasing an additional 1,249,200 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in International Game Technology during Q1 worth $181,000. First Capital Advisors Group LLC. bought a new position in International Game Technology during Q1 worth $262,000. Goldman Sachs Group Inc. increased its stake in International Game Technology by 89.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,251,116 shares of the company valued at $30,878,000 after purchasing an additional 590,469 shares last quarter. Finally, JAT Capital Mgmt LP increased its stake in International Game Technology by 46.1% in the 1st quarter. JAT Capital Mgmt LP now owns 832,977 shares of the company valued at $20,558,000 after purchasing an additional 262,834 shares last quarter. 44.33% of the shares are held by institutional investors and hedge funds.
International Gaming Technology Company Profile (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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