International Game Technology PLC (IGT) Expected to Announce Quarterly Sales of $1.26 Billion
Equities research analysts expect International Game Technology PLC (NYSE:IGT) to announce sales of $1.26 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for International Game Technology’s earnings. The lowest sales estimate is $1.24 billion and the highest is $1.29 billion. International Game Technology reported sales of $1.35 billion in the same quarter last year, which would suggest a negative year over year growth rate of 6.7%. The company is expected to announce its next quarterly earnings report on Thursday, March 14th.
On average, analysts expect that International Game Technology will report full-year sales of $4.83 billion for the current fiscal year, with estimates ranging from $4.80 billion to $4.86 billion. For the next fiscal year, analysts expect that the business will report sales of $4.90 billion, with estimates ranging from $4.79 billion to $4.96 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover International Game Technology.
International Game Technology (NYSE:IGT) last released its quarterly earnings results on Wednesday, October 31st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The firm’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS.
Several institutional investors have recently made changes to their positions in IGT. Bank of Montreal Can purchased a new position in shares of International Game Technology in the 2nd quarter worth approximately $1,720,000. BNP Paribas Arbitrage SA boosted its holdings in shares of International Game Technology by 317.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 123,211 shares of the company’s stock worth $2,863,000 after purchasing an additional 93,707 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of International Game Technology by 56.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 15,530 shares of the company’s stock worth $361,000 after purchasing an additional 5,628 shares during the period. Alps Advisors Inc. purchased a new position in shares of International Game Technology in the 2nd quarter worth approximately $844,000. Finally, D.A. Davidson & CO. boosted its holdings in shares of International Game Technology by 17.1% in the 2nd quarter. D.A. Davidson & CO. now owns 22,128 shares of the company’s stock worth $514,000 after purchasing an additional 3,238 shares during the period. Hedge funds and other institutional investors own 51.70% of the company’s stock.
NYSE IGT traded down $0.05 during trading on Wednesday, hitting $16.88. 1,874,451 shares of the stock traded hands, compared to its average volume of 3,160,985. The stock has a market capitalization of $3.45 billion, a PE ratio of 11.11, a P/E/G ratio of 1.54 and a beta of 1.27. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.03 and a quick ratio of 0.88. International Game Technology has a 12-month low of $14.14 and a 12-month high of $31.00.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 28th. Stockholders of record on Wednesday, November 14th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date was Tuesday, November 13th. International Game Technology’s dividend payout ratio (DPR) is 52.63%.
About International Game Technology
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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