Brokerages expect International Game Technology PLC (NYSE:IGT) to announce earnings of $0.39 per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for International Game Technology’s earnings, with the highest EPS estimate coming in at $0.56 and the lowest estimate coming in at $0.29. International Game Technology reported earnings of $0.68 per share in the same quarter last year, which would indicate a negative year over year growth rate of 42.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, March 14th.

On average, analysts expect that International Game Technology will report full-year earnings of $1.13 per share for the current fiscal year, with EPS estimates ranging from $1.03 to $1.31. For the next year, analysts anticipate that the business will report earnings of $1.68 per share, with EPS estimates ranging from $1.38 to $2.07. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that follow International Game Technology.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. International Game Technology had a net margin of 3.27% and a return on equity of 11.52%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the prior year, the business posted $0.40 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis.

Several equities research analysts recently issued reports on the stock. ValuEngine downgraded shares of International Game Technology from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Societe Generale assumed coverage on shares of International Game Technology in a research note on Wednesday, October 17th. They issued a “buy” rating and a $20.50 target price for the company. Credit Suisse Group assumed coverage on shares of International Game Technology in a research note on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 target price for the company. Jefferies Financial Group cut their target price on shares of International Game Technology from $35.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Finally, Deutsche Bank cut their target price on shares of International Game Technology from $35.00 to $29.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. International Game Technology currently has a consensus rating of “Buy” and an average target price of $27.36.

A number of institutional investors have recently added to or reduced their stakes in the business. OppenheimerFunds Inc. raised its holdings in International Game Technology by 0.4% in the 2nd quarter. OppenheimerFunds Inc. now owns 6,469,132 shares of the company’s stock valued at $150,342,000 after acquiring an additional 25,389 shares during the period. Jennison Associates LLC raised its holdings in International Game Technology by 21.4% in the 3rd quarter. Jennison Associates LLC now owns 1,900,091 shares of the company’s stock valued at $37,527,000 after acquiring an additional 334,822 shares during the period. Peregrine Capital Management LLC increased its holdings in shares of International Game Technology by 13.3% during the third quarter. Peregrine Capital Management LLC now owns 1,486,846 shares of the company’s stock worth $29,365,000 after purchasing an additional 174,799 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of International Game Technology by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 1,393,095 shares of the company’s stock worth $27,513,000 after purchasing an additional 36,143 shares during the period. Finally, CI Investments Inc. increased its holdings in shares of International Game Technology by 145.5% during the third quarter. CI Investments Inc. now owns 1,156,800 shares of the company’s stock worth $22,847,000 after purchasing an additional 685,600 shares during the period. 47.27% of the stock is currently owned by hedge funds and other institutional investors.

Shares of International Game Technology stock traded down $1.75 during trading hours on Friday, reaching $15.55. 6,728,129 shares of the company’s stock were exchanged, compared to its average volume of 4,451,315. International Game Technology has a fifty-two week low of $15.01 and a fifty-two week high of $31.00. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.03 and a quick ratio of 0.88. The company has a market cap of $3.45 billion, a price-to-earnings ratio of 10.23, a P/E/G ratio of 1.50 and a beta of 1.30.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $0.80 annualized dividend and a yield of 5.14%. International Game Technology’s dividend 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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