International Game Technology PLC (NYSE:IGT) Expected to Announce Earnings of -$0.74 Per Share

Wall Street brokerages expect International Game Technology PLC (NYSE:IGT) to announce ($0.74) earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for International Game Technology’s earnings, with estimates ranging from ($0.89) to ($0.58). International Game Technology posted earnings of $0.21 per share during the same quarter last year, which would suggest a negative year over year growth rate of 452.4%. The firm is expected to report its next earnings report on Thursday, November 12th.

According to Zacks, analysts expect that International Game Technology will report full-year earnings of ($0.55) per share for the current year, with EPS estimates ranging from ($0.60) to ($0.49). For the next fiscal year, analysts forecast that the company will report earnings of $0.64 per share, with EPS estimates ranging from $0.37 to $1.07. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow International Game Technology.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, August 4th. The company reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.70) by $0.11. International Game Technology had a negative net margin of 14.86% and a positive return on equity of 0.04%. The business had revenue of $637.00 million during the quarter, compared to analyst estimates of $484.61 million. During the same period in the previous year, the business posted $0.44 EPS. The company’s quarterly revenue was down 48.4% on a year-over-year basis.

Several research analysts have recently commented on IGT shares. Credit Suisse Group reaffirmed a “sell” rating and issued a $5.00 price target on shares of International Game Technology in a report on Wednesday, August 5th. Macquarie lifted their price target on shares of International Game Technology from $15.00 to $16.00 in a report on Thursday, September 24th. ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Thursday, July 2nd. SunTrust Banks lifted their price objective on shares of International Game Technology from $8.00 to $11.00 and gave the company a “hold” rating in a research report on Tuesday, July 21st. Finally, Susquehanna Bancshares downgraded shares of International Game Technology from a “positive” rating to a “neutral” rating in a research report on Friday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. International Game Technology currently has a consensus rating of “Hold” and an average target price of $11.39.

Large investors have recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new stake in shares of International Game Technology during the 2nd quarter worth about $31,000. Cerebellum GP LLC bought a new stake in shares of International Game Technology during the 2nd quarter worth about $123,000. Clearbridge Investments LLC raised its position in shares of International Game Technology by 91.5% during the 1st quarter. Clearbridge Investments LLC now owns 7,026 shares of the company’s stock worth $42,000 after buying an additional 3,358 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of International Game Technology during the 2nd quarter worth about $78,000. Finally, Aigen Investment Management LP bought a new stake in shares of International Game Technology during the 1st quarter worth about $54,000. Hedge funds and other institutional investors own 39.29% of the company’s stock.

Shares of NYSE IGT traded up $0.26 during midday trading on Friday, hitting $11.39. The company’s stock had a trading volume of 2,441,266 shares, compared to its average volume of 2,963,106. International Game Technology has a 1-year low of $3.59 and a 1-year high of $16.25. The firm’s fifty day moving average price is $11.21 and its 200-day moving average price is $8.91. The company has a debt-to-equity ratio of 4.57, a quick ratio of 1.19 and a current ratio of 1.26. The firm has a market cap of $2.27 billion, a P/E ratio of -3.94 and a beta of 1.89.

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

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