Brokerages Expect International Game Technology PLC (IGT) to Announce $0.35 Earnings Per Share

Wall Street brokerages predict that International Game Technology PLC (NYSE:IGT) will post earnings of $0.35 per share for the current fiscal quarter, according to Zacks. Seven analysts have provided estimates for International Game Technology’s earnings, with estimates ranging from $0.29 to $0.39. International Game Technology reported earnings of $0.68 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 48.5%. The firm is expected to issue its next earnings results on Thursday, March 14th.

According to Zacks, analysts expect that International Game Technology will report full year earnings of $1.10 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.14. For the next fiscal year, analysts expect that the firm will post earnings of $1.63 per share, with EPS estimates ranging from $1.38 to $2.02. Zacks’ EPS averages are a mean average based on a survey of research firms that cover International Game Technology.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The firm had revenue of $1.16 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue for the quarter was down 5.3% on a year-over-year basis.

Several analysts have issued reports on IGT shares. Argus dropped their price target on International Game Technology from $28.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday. Deutsche Bank dropped their price target on International Game Technology from $35.00 to $29.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Jefferies Financial Group dropped their price target on International Game Technology from $35.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday, November 1st. Societe Generale started coverage on International Game Technology in a research note on Wednesday, October 17th. They issued a “buy” rating and a $20.50 price target on the stock. Finally, ValuEngine downgraded International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.21.

Shares of IGT traded down $0.37 during midday trading on Friday, hitting $15.61. The stock had a trading volume of 3,868,164 shares, compared to its average volume of 4,460,180. International Game Technology has a twelve month low of $14.84 and a twelve month high of $31.00. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 10.27, a P/E/G ratio of 1.41 and a beta of 1.30. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.03 and a quick ratio of 0.88.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.12%. The ex-dividend date is Tuesday, November 13th. International Game Technology’s payout ratio is 52.63%.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. OppenheimerFunds Inc. grew its holdings in shares of International Game Technology by 0.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock valued at $150,342,000 after acquiring an additional 25,389 shares in the last quarter. Rubric Capital Management LP grew its holdings in shares of International Game Technology by 65.9% in the 3rd quarter. Rubric Capital Management LP now owns 3,850,000 shares of the company’s stock valued at $76,038,000 after acquiring an additional 1,530,000 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of International Game Technology by 21.4% in the 3rd quarter. Jennison Associates LLC now owns 1,900,091 shares of the company’s stock valued at $37,527,000 after acquiring an additional 334,822 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of International Game Technology by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,871,808 shares of the company’s stock valued at $36,968,000 after acquiring an additional 6,156 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of International Game Technology by 336.8% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,564,264 shares of the company’s stock valued at $30,894,000 after acquiring an additional 1,206,152 shares in the last quarter. Institutional investors own 46.96% of the company’s stock.

About International Game Technology

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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

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