SunTrust Banks Weighs in on International Game Technology PLC’s FY2020 Earnings (IGT)

International Game Technology PLC (NYSE:IGT) – Stock analysts at SunTrust Banks lifted their FY2020 earnings estimates for International Game Technology in a note issued to investors on Wednesday, January 9th. SunTrust Banks analyst B. Jonas now expects that the company will post earnings of $1.44 per share for the year, up from their prior forecast of $1.34. SunTrust Banks has a “Buy” rating on the stock.

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

Other analysts have also recently issued research reports about the company. ValuEngine cut International Game Technology from a “sell” rating to a “strong sell” rating in a research report on Monday, October 8th. Susquehanna Bancshares began coverage on International Game Technology in a research report on Friday, December 7th. They set a “positive” rating and a $22.00 price objective for the company. Jefferies Financial Group reduced their price objective on International Game Technology from $35.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. Societe Generale began coverage on International Game Technology in a research report on Wednesday, October 17th. They set a “buy” rating and a $20.50 price objective for the company. Finally, Argus reduced their price objective on International Game Technology from $28.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, November 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $24.69.

IGT opened at $15.76 on Friday. The firm has a market cap of $3.33 billion, a P/E ratio of 10.37, a PEG ratio of 1.01 and a beta of 1.33. International Game Technology has a 1 year low of $13.33 and a 1 year high of $31.00. The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 2.95.

Large investors have recently made changes to their positions in the business. Reilly Financial Advisors LLC lifted its position in shares of International Game Technology by 2,035.6% in the third quarter. Reilly Financial Advisors LLC now owns 6,471 shares of the company’s stock worth $128,000 after buying an additional 6,168 shares during the last quarter. Cerebellum GP LLC lifted its position in shares of International Game Technology by 55.5% in the fourth quarter. Cerebellum GP LLC now owns 9,806 shares of the company’s stock worth $143,000 after buying an additional 3,498 shares during the last quarter. Glenmede Trust Co. NA lifted its position in shares of International Game Technology by 2,792.2% in the third quarter. Glenmede Trust Co. NA now owns 11,482 shares of the company’s stock worth $226,000 after buying an additional 11,085 shares during the last quarter. Hilltop Holdings Inc. acquired a new stake in shares of International Game Technology in the second quarter worth about $234,000. Finally, Synovus Financial Corp lifted its position in shares of International Game Technology by 21,298.2% in the third quarter. Synovus Financial Corp now owns 11,769 shares of the company’s stock worth $234,000 after buying an additional 11,714 shares during the last quarter. 51.70% of the stock is owned by institutional investors.

International Game Technology Company Profile

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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