International Game Technology PLC (NYSE:IGT) to post earnings of $0.26 per share in the second quarter of 2022, according to Jefferies Financial Group forecast
International Game Technology PLC (NYSE:IGT – Get a rating) – Investment analysts at Jefferies Financial Group raised their second-quarter 2022 earnings-per-share estimates for shares of International Game Technology in a report released Wednesday, July 20. Jefferies Financial Group analyst D. Katz now expects the company to post earnings of $0.26 per share for the quarter, up from its previous estimate of $0.25. Jefferies Financial Group currently has a “Buy” rating and a price target of $26.00 on the stock. The consensus estimate for International Game Technology‘s current annual earnings is $1.39 per share. Jefferies Financial Group also released International Game Technology Q3 2022 earnings estimates at $0.25 EPS, Q4 2022 earnings at $0.15 EPS, fiscal year 2022 earnings at $1.05 EPS and earnings for fiscal year 2024 at $1.00 EPS.
Several other stock analysts have also recently weighed in on the company. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 research report. Truist Financial reduced its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a Wednesday, July 20 report. Finally, Deutsche Bank Aktiengesellschaft cut its price target on International Game Technology from $37.00 to $35.00 and set a “buy” rating for the company in a Thursday, July 14 report. Seven analysts rated the stock with a buy rating. According to data from MarketBeat, International Game Technology has a consensus rating of “Buy” and a consensus target price of $38.67.
International Gaming Technology Awards Performance
NYSE IGT opened at $18.07 on Monday. International Game Technology has a 12-month low of $16.46 and a 12-month high of $32.95. The company has a debt ratio of 3.51, a quick ratio of 1.33 and a current ratio of 1.43. The stock has a market capitalization of $3.68 billion, a PE ratio of 7.93 and a beta of 1.91. The stock has a 50-day simple moving average of $19.63 and a 200-day simple moving average of $23.34.
International Games Technology (NYSE: IGT – Get a rating) last released its quarterly earnings data 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 return on equity of 3.35% and a net margin of 11.37%. The company posted revenue of $1.05 billion in the quarter, versus $1.04 billion expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.38. The company’s revenue increased by 3.5% compared to the same quarter last year.
Hedge funds weigh on international gaming technology
Hedge funds have recently changed their stock holdings. Parkside Financial Bank & Trust increased its stake in shares of International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company worth $29,000 after buying 534 more shares last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of International Game Technology in Q1 worth approximately $34,000. Steward Partners Investment Advisory LLC increased its holding in shares of International Game Technology by 100.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company worth $35,000 after purchasing an additional 600 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of International Game Technology in Q1 worth approximately $49,000. Finally, National Bank of Canada FI acquired a new stake in International Game Technology during the 4th quarter for a value of approximately $60,000. 44.33% of the shares are held by institutional investors and hedge funds.
International Game Technology Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 received a dividend of $0.20. The ex-dividend date was Monday, May 23. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 4.43%. International Game Technology’s payout ratio is currently 35.09%.
About International Gaming Technology
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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