$1.16 Billion in Sales Expected for International Game Technology (IGT) This Quarter

Brokerages expect International Game Technology (NYSE:IGT) to announce $1.16 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for International Game Technology’s earnings. The highest sales estimate is $1.19 billion and the lowest is $1.14 billion. International Game Technology posted sales of $1.15 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.9%. The business is expected to announce its next quarterly earnings results on Thursday, May 24th.

According to Zacks, analysts expect that International Game Technology will report full year sales of $1.16 billion for the current fiscal year, with estimates ranging from $4.85 billion to $5.04 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.04 billion per share, with estimates ranging from $4.93 billion to $5.26 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover International Game Technology.

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International Game Technology (NYSE:IGT) last issued its earnings results on Thursday, March 8th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.37). International Game Technology had a positive return on equity of 10.28% and a negative net margin of 21.64%. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s quarterly revenue was up 1.9% compared to the same quarter last year.

Several research analysts have weighed in on the stock. Jefferies Group set a $34.00 target price on shares of International Game Technology and gave the stock a “buy” rating in a research report on Friday, March 9th. Bank of America set a $32.00 target price on shares of International Game Technology and gave the stock a “buy” rating in a research report on Thursday, March 8th. ValuEngine raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Argus raised shares of International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $31.25.

International Game Technology (IGT) opened at $26.89 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.75 and a debt-to-equity ratio of 3.30. International Game Technology has a 1 year low of $17.25 and a 1 year high of $30.82. The firm has a market cap of $5,443.35, a PE ratio of 17.69 and a beta of 1.62.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 5th. Investors of record on Thursday, March 22nd will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.98%. The ex-dividend date is Wednesday, March 21st. International Game Technology’s payout ratio is -15.21%.

Several institutional investors and hedge funds have recently made changes to their positions in IGT. Nationwide Fund Advisors lifted its stake in shares of International Game Technology by 9.6% during the third quarter. Nationwide Fund Advisors now owns 39,477 shares of the company’s stock valued at $969,000 after buying an additional 3,455 shares during the period. Rhumbline Advisers lifted its stake in shares of International Game Technology by 2.6% during the third quarter. Rhumbline Advisers now owns 97,671 shares of the company’s stock valued at $2,398,000 after buying an additional 2,516 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in shares of International Game Technology by 101.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock valued at $116,000 after buying an additional 2,911 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of International Game Technology during the third quarter valued at approximately $5,037,000. Finally, Trexquant Investment LP lifted its stake in shares of International Game Technology by 66.6% during the third quarter. Trexquant Investment LP now owns 51,483 shares of the company’s stock valued at $1,264,000 after buying an additional 20,583 shares during the period. 40.68% of the stock is currently owned by institutional investors and hedge funds.

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About International Game Technology

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

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

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