December 3, 2022

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Zacks: Analysts Expect International Game Technology PLC (NYSE:IGT) to Announce $0.35 Earnings Per Share

Equities analysts predict that International Game Technology PLC (NYSE:IGTGet Rating) will announce earnings of $0.35 per share for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for International Game Technology’s earnings, with the highest EPS estimate coming in at $0.52 and the lowest estimate coming in at $0.25. International Game Technology posted earnings per share of ($0.48) in the same quarter last year, which indicates a positive year over year growth rate of 172.9%. The company is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that International Game Technology will report full-year earnings of $1.40 per share for the current fiscal year, with EPS estimates ranging from $1.02 to $1.92. For the next fiscal year, analysts forecast that the company will 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 sell-side analysts that cover International Game Technology.

International Game Technology (NYSE:IGTGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.06. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. International Game Technology had a net margin of 11.37% and a return on equity of 3.35%. The company’s revenue was up 3.5% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share.

Several equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their target price on shares of International Game Technology from $39.00 to $37.00 in a report on Wednesday, May 11th. Jefferies Financial Group upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $30.00 to $26.00 in a report on Thursday, May 12th. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Finally, Credit Suisse Group raised their price objective on shares of International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $40.80.

IGT opened at $20.60 on Monday. International Game Technology has a one year low of $17.27 and a one year high of $32.95. The stock has a market capitalization of $4.20 billion, a P/E ratio of 9.04 and a beta of 1.93. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.43 and a quick ratio of 1.33. The company’s 50 day simple moving average is $23.04 and its 200-day simple moving average is $25.94.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, May 23rd. International Game Technology’s payout ratio is 35.09%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Parkside Financial Bank & Trust raised its position 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’s stock valued at $29,000 after buying an additional 534 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new position in shares of International Game Technology in the 1st quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC raised its position 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’s stock valued at $35,000 after buying an additional 600 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of International Game Technology in the 1st quarter valued at approximately $49,000. Finally, Dark Forest Capital Management LP acquired a new position in International Game Technology during the 3rd quarter worth approximately $54,000. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Company Profile (Get Rating)

International Game Technology PLC operates and provides gaming 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 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.

See Also

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Earnings History and Estimates for International Game Technology (NYSE:IGT)

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