International Game Technology PLC (NYSE:IGT) Forecasted to Earn Q3 2024 Earnings of $0.29 Per Share

International Game Technology PLC (NYSE:IGT) – Equities research analysts at B. Riley issued their Q3 2024 EPS estimates for shares of International Game Technology in a research report issued to clients and investors on Wednesday, July 31st. B. Riley analyst D. Bain expects that the company will post earnings of $0.29 per share for the quarter. B. Riley has a “Buy” rating and a $30.00 price target on the stock. The consensus estimate for International Game Technology’s current full-year earnings is $1.43 per share. B. Riley also issued estimates for International Game Technology’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.42 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.45 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.79 EPS.

Several other equities analysts also recently weighed in on IGT. StockNews.com downgraded International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 5th. Susquehanna cut their price objective on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a report on Thursday, May 16th. Truist Financial decreased their target price on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating on the stock in a research report on Wednesday, May 15th. Finally, Stifel Nicolaus upped their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.67.

International Game Technology Trading Down 2.1 %

Shares of International Game Technology stock opened at $21.67 on Friday. The firm has a market cap of $4.31 billion, a PE ratio of 20.64 and a beta of 1.98. The company has a quick ratio of 0.67, a current ratio of 0.84 and a debt-to-equity ratio of 2.57. International Game Technology has a fifty-two week low of $18.90 and a fifty-two week high of $33.48. The business’s fifty day moving average is $20.72 and its two-hundred day moving average is $22.18.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.45 earnings per share.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, August 13th. This represents a $0.80 dividend on an annualized basis and a yield of 3.69%. International Game Technology’s dividend payout ratio (DPR) is 76.19%.

Institutional Investors Weigh In On International Game Technology

Several large investors have recently made changes to their positions in IGT. Norges Bank purchased a new stake in International Game Technology during the 4th quarter worth $35,011,000. Wellington Management Group LLP grew its stake in shares of International Game Technology by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock valued at $74,495,000 after buying an additional 509,722 shares in the last quarter. Okabena Investment Services Inc. purchased a new stake in shares of International Game Technology during the 4th quarter valued at about $1,397,000. Beryl Capital Management LLC acquired a new position in International Game Technology during the 4th quarter worth approximately $16,431,000. Finally, SG Americas Securities LLC boosted its holdings in International Game Technology by 10.8% in the 1st quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock worth $194,000 after acquiring an additional 836 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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, as well as iLottery solutions and services.