Analysts at Jefferies Group assumed coverage on shares of International Game Technology (NYSE:IGT) in a research report issued to clients and investors on Tuesday, February 20th, MarketBeat.com reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. Jefferies Group’s price target would suggest a potential upside of 7.35% from the stock’s previous close. Jefferies Group also issued estimates for International Game Technology’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.38 EPS, Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $1.27 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.36 EPS and FY2019 earnings at $1.20 EPS.
Other equities research analysts also recently issued research reports about the company. Deutsche Bank raised their price target on International Game Technology to $34.00 and gave the company a “buy” rating in a report on Monday, November 20th. Bank of America increased their price objective on International Game Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, November 15th. ValuEngine cut International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Finally, Argus upgraded International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a research report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. International Game Technology presently has a consensus rating of “Buy” and an average price target of $31.25.
International Game Technology (NYSE IGT) traded up $0.82 during trading on Tuesday, reaching $30.74. 2,659,106 shares of the company’s stock were exchanged, compared to its average volume of 1,338,620. The company has a current ratio of 0.83, a quick ratio of 0.75 and a debt-to-equity ratio of 2.87. The firm has a market cap of $6,016.23, a P/E ratio of -5.84 and a beta of 1.62. International Game Technology has a 52 week low of $17.25 and a 52 week high of $30.82.
International Game Technology (NYSE:IGT) last posted its earnings results on Thursday, March 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.37). The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.25 billion. International Game Technology had a positive return on equity of 9.98% and a negative net margin of 21.64%. International Game Technology’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.88 earnings per share. research analysts expect that International Game Technology will post 1.38 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in IGT. TimesSquare Capital Management LLC bought a new position in shares of International Game Technology during the 3rd quarter valued at about $62,053,000. Point72 Asset Management L.P. grew its holdings in shares of International Game Technology by 40.4% in the third quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock worth $162,825,000 after acquiring an additional 1,908,038 shares during the period. Renaissance Technologies LLC grew its holdings in shares of International Game Technology by 62.3% in the fourth quarter. Renaissance Technologies LLC now owns 4,790,800 shares of the company’s stock worth $127,004,000 after acquiring an additional 1,838,400 shares during the period. Jennison Associates LLC grew its holdings in shares of International Game Technology by 114.4% in the fourth quarter. Jennison Associates LLC now owns 2,132,681 shares of the company’s stock worth $56,537,000 after acquiring an additional 1,138,049 shares during the period. Finally, Rubric Capital Management LP purchased a new position in International Game Technology during the third quarter valued at $19,883,000. Institutional investors and hedge funds own 40.70% of the company’s stock.
International Game Technology Company Profile
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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