Brokerages Expect International Game Technology PLC (NYSE:IGT) to Announce $0.21 EPS

Wall Street brokerages expect International Game Technology PLC (NYSE:IGT) to post earnings per share of $0.21 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for International Game Technology’s earnings. The highest EPS estimate is $0.32 and the lowest is $0.07. International Game Technology reported earnings of $0.24 per share in the same quarter last year, which indicates a negative year-over-year growth rate of 12.5%. The firm is scheduled to announce its next quarterly earnings report before the market opens on Tuesday, March 3rd.

According to Zacks, analysts expect that International Game Technology will report full year earnings of $1.03 per share for the current year, with EPS estimates ranging from $0.95 to $1.10. For the next year, analysts expect that the company will post earnings of $1.13 per share, with EPS estimates ranging from $0.55 to $1.75. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that follow International Game Technology.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Thursday, November 14th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.08). The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.15 billion. International Game Technology had a return on equity of 7.80% and a net margin of 0.97%. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.31 EPS.

A number of research analysts recently issued reports on IGT shares. Jefferies Financial Group downgraded International Game Technology from a “buy” rating to a “hold” rating and dropped their price target for the stock from $20.00 to $17.00 in a research note on Monday, January 6th. ValuEngine upgraded International Game Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, November 19th. Finally, Deutsche Bank restated a “buy” rating and set a $21.00 price target (up previously from $20.00) on shares of International Game Technology in a research note on Tuesday, November 19th.

A number of institutional investors have recently bought and sold shares of IGT. Boston Partners lifted its position in International Game Technology by 4,856.2% during the 3rd quarter. Boston Partners now owns 8,293,003 shares of the company’s stock worth $117,823,000 after acquiring an additional 8,125,678 shares during the period. FMR LLC lifted its position in International Game Technology by 222.8% during the 1st quarter. FMR LLC now owns 2,057,614 shares of the company’s stock worth $26,729,000 after acquiring an additional 1,420,212 shares during the period. Renaissance Technologies LLC lifted its position in International Game Technology by 29.5% during the 4th quarter. Renaissance Technologies LLC now owns 3,215,612 shares of the company’s stock worth $48,138,000 after acquiring an additional 733,469 shares during the period. Charles Schwab Investment Management Inc. lifted its position in International Game Technology by 49.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,509,228 shares of the company’s stock worth $22,594,000 after acquiring an additional 501,577 shares during the period. Finally, Nuveen Asset Management LLC acquired a new stake in International Game Technology during the 2nd quarter worth approximately $5,697,000. 41.48% of the stock is owned by institutional investors.

NYSE:IGT opened at $14.47 on Monday. The stock’s 50 day moving average price is $14.50 and its 200 day moving average price is $13.97. The company has a market capitalization of $2.90 billion, a PE ratio of 62.92, a P/E/G ratio of 1.26 and a beta of 1.36. The company has a quick ratio of 0.92, a current ratio of 1.03 and a debt-to-equity ratio of 2.97. International Game Technology has a 52-week low of $11.32 and a 52-week high of $17.85.

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

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