September 30, 2022

International Game Technology PLC (NYSE:IGT – Get Rating) – Analysts at Jefferies Financial Group boosted their Q3 2022 earnings per share estimates for shares of International Game Technology in a research note issued on Thursday, August 4th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings of $0.42 per share for the quarter, up from their prior estimate of $0.25. Jefferies Financial Group currently has a “Buy” rating and a $26.00 target price on the stock. The consensus estimate for International Game Technology’s current full-year earnings is $1.36 per share. Jefferies Financial Group also issued estimates for International Game Technology’s Q4 2022 earnings at $0.33 EPS, FY2022 earnings at $1.71 EPS, Q1 2023 earnings at $0.47 EPS, Q2 2023 earnings at $0.53 EPS, Q3 2023 earnings at $0.51 EPS, Q4 2023 earnings at $0.45 EPS, FY2023 earnings at $1.97 EPS and FY2024 earnings at $2.27 EPS.

Several other equities research analysts also recently commented on IGT. Stifel Nicolaus cut their target price on shares of International Game Technology from $36.00 to $26.00 in a research report on Monday, August 1st. Truist Financial reduced their price objective on shares of International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on International Game Technology from $35.00 to $30.00 in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $35.00.

International Game Technology Stock Performance

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NYSE:IGT opened at $20.61 on Monday. The stock’s 50-day moving average is $19.42 and its 200-day moving average is $22.74. The stock has a market cap of $4.20 billion, a P/E ratio of 26.77 and a beta of 1.83. International Game Technology has a 1-year low of $16.46 and a 1-year high of $32.95. The company has a current ratio of 1.56, a quick ratio of 1.33 and a debt-to-equity ratio of 3.53.

International Game Technology (NYSE:IGT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.05. International Game Technology had a return on equity of 14.56% and a net margin of 3.87%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the company posted $0.38 EPS. International Game Technology’s quarterly revenue was up 3.5% compared to the same quarter last year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Tuesday, August 16th will be issued a $0.20 dividend. The ex-dividend date is Monday, August 15th. This represents a $0.80 annualized dividend and a yield of 3.88%. International Game Technology’s payout ratio is 103.90%.

Institutional Trading of International Game Technology

Institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust lifted its stake in shares of International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after purchasing an additional 534 shares during the period. Northwestern Mutual Wealth Management Co. bought a new stake in International Game Technology in the first quarter worth approximately $34,000. Steward Partners Investment Advisory LLC lifted its stake in International Game Technology by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company’s stock valued at $35,000 after buying an additional 600 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of International Game Technology during the 1st quarter worth approximately $49,000. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of International Game Technology by 35.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,031 shares of the company’s stock worth $106,000 after buying an additional 1,048 shares in the last quarter. Institutional investors own 44.33% of the company’s stock.

International Game Technology Company Profile

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International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.

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

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