Equities Analysts Set Expectations for International Game Technology PLC’s Q2 2022 Earnings (NYSE:IGT)

International Game Technology PLC (NYSE:IGT – Get Rating) – Investment analysts at Jefferies Financial Group decreased their Q2 2022 earnings per share estimates for shares of International Game Technology in a research note issued to investors on Thursday, May 12th. Jefferies Financial Group analyst D. Katz now anticipates that the company will post earnings of $0.25 per share for the quarter, down from their previous estimate of $0.33. Jefferies Financial Group has a “Buy” rating and a $26.00 price objective on the stock. Jefferies Financial Group also issued estimates for International Game Technology’s Q3 2022 earnings at $0.24 EPS and FY2022 earnings at $1.02 EPS.

Several other brokerages have also recently commented on IGT. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Credit Suisse Group lifted their price objective on shares of International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of International Game Technology from $39.00 to $37.00 in a research note on Wednesday. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, International Game Technology presently has an average rating of “Buy” and an average price target of $40.80.

Shares of NYSE:IGT opened at $20.18 on Friday. International Game Technology has a one year low of $17.27 and a one year high of $32.95. The company has a 50 day moving average of $23.28 and a 200-day moving average of $26.42. The company has a debt-to-equity ratio of 3.51, a current ratio of 1.43 and a quick ratio of 1.20. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of 8.85 and a beta of 1.93.

International Game Technology (NYSE:IGT – Get Rating) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. International Game Technology had a net margin of 11.37% and a return on equity of 3.35%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $0.38 EPS. International Game Technology’s revenue was up 3.5% on a year-over-year basis.

Hedge funds have recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp increased its holdings in International Game Technology by 7.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,211 shares of the company’s stock worth $469,000 after buying an additional 1,079 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of International Game Technology by 1.8% in the fourth quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company’s stock valued at $757,000 after purchasing an additional 459 shares during the last quarter. Cordatus Wealth Management LLC acquired a new position in shares of International Game Technology in the third quarter valued at $975,000. Lazard Asset Management LLC increased its holdings in shares of International Game Technology by 16.1% in the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company’s stock valued at $173,074,000 after purchasing an additional 828,482 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in shares of International Game Technology in the third quarter valued at $54,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 7th. Stockholders of record on Tuesday, May 24th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Monday, May 23rd. International Game Technology’s dividend payout ratio is presently 35.09%.

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.

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