Zacks: Brokerages Anticipate International Game Technology (IGT) to Announce $0.39 Earnings Per Share

Brokerages expect that International Game Technology (NYSE:IGT) will post $0.39 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have made estimates for International Game Technology’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.46. International Game Technology reported earnings of $0.88 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 55.7%. The firm is scheduled to issue its next quarterly earnings report on Thursday, March 8th.

According to Zacks, analysts expect that International Game Technology will report full year earnings of $1.23 per share for the current fiscal year, with EPS estimates ranging from $1.18 to $1.30. For the next fiscal year, analysts forecast that the business will post earnings of $1.37 per share, with EPS estimates ranging from $1.02 to $1.55. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for International Game Technology.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.16. International Game Technology had a negative net margin of 18.62% and a positive return on equity of 10.68%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.45 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year.

IGT has been the topic of several recent analyst reports. Argus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Wednesday, November 29th. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 22nd. Bank of America raised shares of International Game Technology from a “neutral” rating to a “buy” rating and raised their target price for the company from $24.00 to $30.00 in a report on Wednesday, September 20th. Finally, Deutsche Bank lifted their price objective on shares of International Game Technology to $34.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $30.70.

A number of institutional investors have recently added to or reduced their stakes in the business. Credit Suisse AG lifted its position in shares of International Game Technology by 290.0% during the 1st quarter. Credit Suisse AG now owns 44,651 shares of the company’s stock valued at $1,058,000 after buying an additional 33,203 shares in the last quarter. Sei Investments Co. raised its stake in International Game Technology by 28.0% in the 2nd quarter. Sei Investments Co. now owns 140,777 shares of the company’s stock valued at $2,575,000 after purchasing an additional 30,753 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in shares of International Game Technology in the 2nd quarter worth $273,000. Boston Partners increased its stake in shares of International Game Technology by 18.6% in the 2nd quarter. Boston Partners now owns 258,996 shares of the company’s stock worth $4,740,000 after acquiring an additional 40,556 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of International Game Technology by 5.4% in the 2nd quarter. Rhumbline Advisers now owns 95,155 shares of the company’s stock worth $1,741,000 after acquiring an additional 4,916 shares during the last quarter. Institutional investors and hedge funds own 40.64% of the company’s stock.

International Game Technology (NYSE IGT) traded down $0.38 during trading on Tuesday, hitting $26.67. 1,674,076 shares of the stock traded hands, compared to its average volume of 1,521,256. The company has a market capitalization of $5,495.98, a PE ratio of 15.78 and a beta of 1.56. The company has a debt-to-equity ratio of 2.66, a quick ratio of 0.70 and a current ratio of 0.84. International Game Technology has a 52-week low of $17.25 and a 52-week high of $29.36.

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, November 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.00%. International Game Technology’s dividend payout ratio is currently -17.78%.

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About International Game Technology

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

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

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