Equities research analysts expect International Game Technology PLC (NYSE:IGT) to report $1.18 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have made estimates for International Game Technology’s earnings, with the lowest sales estimate coming in at $1.10 billion and the highest estimate coming in at $1.21 billion. International Game Technology posted sales of $1.22 billion during the same quarter last year, which suggests a negative year over year growth rate of 3.3%. The business is expected to report its next earnings report on Tuesday, November 13th.

On average, analysts expect that International Game Technology will report full-year sales of $4.90 billion for the current fiscal year, with estimates ranging from $4.77 billion to $4.99 billion. For the next year, analysts forecast that the firm will report sales of $5.03 billion per share, with estimates ranging from $4.83 billion to $5.33 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover International Game Technology.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, July 31st. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.06). International Game Technology had a negative net margin of 13.37% and a positive return on equity of 12.26%. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same quarter in the previous year, the business posted $0.15 earnings per share. International Game Technology’s revenue for the quarter was down 1.5% on a year-over-year basis.

IGT has been the subject of several recent research reports. ValuEngine lowered shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 2nd. UBS Group upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, June 15th. Union Gaming Research upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, June 15th. They noted that the move was a valuation call. Jefferies Financial Group reiterated a “buy” rating and set a $35.00 target price on shares of International Game Technology in a report on Wednesday, August 1st. Finally, Credit Suisse Group began coverage on shares of International Game Technology in a report on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $32.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in IGT. Davidson Kempner Capital Management LP purchased a new position in International Game Technology in the 2nd quarter worth approximately $23,240,000. FMR LLC purchased a new position in International Game Technology in the 2nd quarter worth approximately $22,797,000. Interval Partners LP purchased a new position in International Game Technology in the 1st quarter worth approximately $20,044,000. Marshall Wace LLP raised its holdings in International Game Technology by 792.1% in the 2nd quarter. Marshall Wace LLP now owns 643,226 shares of the company’s stock worth $14,949,000 after acquiring an additional 571,127 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in International Game Technology by 5.8% in the 1st quarter. Point72 Asset Management L.P. now owns 8,581,300 shares of the company’s stock worth $229,378,000 after acquiring an additional 472,447 shares during the last quarter. Institutional investors own 47.06% of the company’s stock.

Shares of IGT stock traded up $0.19 during trading hours on Friday, hitting $20.19. 1,764,500 shares of the company’s stock traded hands, compared to its average volume of 2,301,603. International Game Technology has a 12-month low of $18.25 and a 12-month high of $31.00. The firm has a market capitalization of $4.12 billion, a price-to-earnings ratio of 13.27 and a beta of 1.38. The company has a debt-to-equity ratio of 2.97, a quick ratio of 0.88 and a current ratio of 1.01.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Tuesday, August 14th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.96%. International Game Technology’s payout ratio is currently 52.63%.

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

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

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