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%.
TRADEMARK VIOLATION WARNING: “Zacks: Brokerages Anticipate International Game Technology (IGT) to Announce $0.39 Earnings Per Share” was published by The Lincolnian Online and is owned by of The Lincolnian Online. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.thelincolnianonline.com/2017/12/15/zacks-brokerages-anticipate-international-game-technology-igt-to-announce-0-39-earnings-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for International Game Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Game Technology and related companies with MarketBeat.com's FREE daily email newsletter.