International Game Technology (NYSE:IGT) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

International Game Technology (NYSE:IGTGet Rating) released its quarterly earnings data on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06, MarketWatch Earnings reports. International Game Technology had a return on equity of 3.59% and a net margin of 11.78%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up 3.5% on a year-over-year basis. International Game Technology updated its FY 2022 guidance to EPS and its Q2 2022 guidance to EPS.

International Game Technology stock opened at $20.07 on Wednesday. The firm has a market cap of $4.09 billion, a P/E ratio of 8.61 and a beta of 1.93. The stock’s 50 day moving average is $23.52 and its 200 day moving average is $26.53. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.30 and a quick ratio of 1.20. International Game Technology has a one year low of $17.27 and a one year high of $32.95.

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 29th. Shareholders of record on Tuesday, March 15th were given a $0.20 dividend. The ex-dividend date was Monday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.99%. International Game Technology’s dividend payout ratio (DPR) is presently 34.33%.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its stake in International Game Technology by 9.5% during the 4th quarter. BlackRock Inc. now owns 11,013,922 shares of the company’s stock worth $318,413,000 after buying an additional 955,108 shares during the period. Morgan Stanley raised its position in shares of International Game Technology by 147.7% during the second quarter. Morgan Stanley now owns 1,248,905 shares of the company’s stock worth $29,924,000 after purchasing an additional 744,706 shares during the period. Marshall Wace LLP lifted its holdings in shares of International Game Technology by 1,005.1% in the 4th quarter. Marshall Wace LLP now owns 293,784 shares of the company’s stock worth $8,494,000 after purchasing an additional 267,200 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in International Game Technology by 30.1% in the 4th quarter. Parametric Portfolio Associates LLC now owns 493,500 shares of the company’s stock valued at $14,267,000 after purchasing an additional 114,199 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in International Game Technology by 310.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 51,655 shares of the company’s stock valued at $1,493,000 after purchasing an additional 39,077 shares in the last quarter. Institutional investors own 44.33% of the company’s stock.

Several analysts recently weighed in on the company. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday. Credit Suisse Group increased their target price on International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, International Game Technology currently has a consensus rating of “Buy” and a consensus target price of $43.20.

International Game Technology Company Profile (Get Rating)

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.

See Also

Earnings History for International Game Technology (NYSE:IGT)

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