Brokerages Expect International Game Technology PLC (NYSE:IGT) to Announce -$0.72 EPS

Equities research analysts predict that International Game Technology PLC (NYSE:IGT) will announce ($0.72) earnings per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for International Game Technology’s earnings, with estimates ranging from ($0.89) to ($0.59). International Game Technology posted earnings of $0.44 per share in the same quarter last year, which indicates a negative year over year growth rate of 263.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, August 6th.

On average, analysts expect that International Game Technology will report full year earnings of ($0.75) per share for the current financial year, with EPS estimates ranging from ($0.94) to ($0.66). For the next financial year, analysts expect that the business will post earnings of $0.57 per share, with EPS estimates ranging from $0.13 to $1.12. 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:IGT) last posted its quarterly earnings results on Monday, May 18th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.10. The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $935.49 million. International Game Technology had a negative net margin of 6.71% and a positive return on equity of 8.68%. International Game Technology’s revenue was down 17.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.12 earnings per share.

A number of equities analysts have weighed in on IGT shares. SunTrust Banks downgraded shares of International Game Technology from a “buy” rating to a “hold” rating and cut their price target for the stock from $16.00 to $8.00 in a research note on Wednesday, May 6th. Argus reaffirmed a “hold” rating on shares of International Game Technology in a research note on Thursday, March 5th. Societe Generale downgraded shares of International Game Technology from a “buy” rating to a “hold” rating and set a $8.20 target price on the stock. in a research note on Thursday, May 21st. ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Credit Suisse Group initiated coverage on shares of International Game Technology in a report on Thursday, May 21st. They set an “underperform” rating and a $5.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. International Game Technology presently has an average rating of “Hold” and a consensus target price of $9.62.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of International Game Technology by 0.5% in the fourth quarter. Bank of New York Mellon Corp now owns 431,289 shares of the company’s stock worth $6,456,000 after acquiring an additional 1,945 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of International Game Technology by 10.3% in the first quarter. Deprince Race & Zollo Inc. now owns 1,347,785 shares of the company’s stock worth $8,019,000 after acquiring an additional 125,726 shares in the last quarter. UBS Group AG increased its position in shares of International Game Technology by 85.5% in the first quarter. UBS Group AG now owns 233,720 shares of the company’s stock worth $1,391,000 after acquiring an additional 107,705 shares in the last quarter. AlphaCrest Capital Management LLC increased its position in shares of International Game Technology by 69.9% in the fourth quarter. AlphaCrest Capital Management LLC now owns 29,900 shares of the company’s stock worth $448,000 after acquiring an additional 12,300 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of International Game Technology by 18.8% in the first quarter. Legal & General Group Plc now owns 116,532 shares of the company’s stock worth $693,000 after acquiring an additional 18,478 shares in the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.

NYSE:IGT traded up $0.67 during trading hours on Friday, reaching $9.57. 3,820,800 shares of the company were exchanged, compared to its average volume of 3,215,292. The company has a debt-to-equity ratio of 4.01, a current ratio of 1.37 and a quick ratio of 1.28. The firm has a market cap of $1.95 billion, a price-to-earnings ratio of -6.74 and a beta of 1.89. International Game Technology has a 52-week low of $3.59 and a 52-week high of $16.25. The stock has a 50 day simple moving average of $8.79 and a 200 day simple moving average of $10.22.

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 four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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

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