International Game Technology PLC (NYSE:IGT – Get Rating) – Equities research analysts at B. Riley boosted their Q2 2023 EPS estimates for shares of International Game Technology in a research note issued to investors on Wednesday, May 10th. B. Riley analyst D. Bain now forecasts that the company will earn $0.31 per share for the quarter, up from their prior estimate of $0.30. B. Riley currently has a “Buy” rating and a $43.00 target price on the stock. The consensus estimate for International Game Technology’s current full-year earnings is $1.57 per share. B. Riley also issued estimates for International Game Technology’s Q3 2023 earnings at $0.32 EPS, Q4 2023 earnings at $0.36 EPS, Q1 2024 earnings at $0.33 EPS, Q2 2024 earnings at $0.34 EPS, Q3 2024 earnings at $0.39 EPS, Q4 2024 earnings at $0.47 EPS and FY2024 earnings at $1.52 EPS.
International Game Technology (NYSE:IGT – Get Rating) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.10. International Game Technology had a net margin of 6.51% and a return on equity of 27.89%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $0.39 earnings per share. The business’s revenue was up .9% on a year-over-year basis.
International Game Technology Stock Up 1.4 %
IGT stock opened at $26.22 on Thursday. The company has a 50 day moving average of $26.40 and a two-hundred day moving average of $24.97. International Game Technology has a 12-month low of $15.01 and a 12-month high of $28.98. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 19.42 and a beta of 1.86. The company has a quick ratio of 1.02, a current ratio of 1.15 and a debt-to-equity ratio of 2.88.
International Game Technology Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 8th. Stockholders of record on Thursday, May 25th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Wednesday, May 24th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.05%. International Game Technology’s dividend payout ratio (DPR) is currently 59.26%.
Institutional Trading of International Game Technology
A number of institutional investors and hedge funds have recently added to or reduced their stakes in IGT. Lazard Asset Management LLC increased its stake in International Game Technology by 28.2% during the 3rd quarter. Lazard Asset Management LLC now owns 9,946,043 shares of the company’s stock valued at $157,146,000 after purchasing an additional 2,184,898 shares in the last quarter. Invesco Ltd. increased its position in shares of International Game Technology by 1,485.1% during the first quarter. Invesco Ltd. now owns 1,418,405 shares of the company’s stock valued at $35,006,000 after buying an additional 1,328,919 shares during the period. Capital Research Global Investors increased its position in shares of International Game Technology by 115.5% in the first quarter. Capital Research Global Investors now owns 2,331,200 shares of the company’s stock worth $57,534,000 after purchasing an additional 1,249,200 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in International Game Technology by 87.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company’s stock worth $43,488,000 after buying an additional 1,092,029 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in International Game Technology by 19.7% in the third quarter. Bank of New York Mellon Corp now owns 6,390,821 shares of the company’s stock worth $100,974,000 after buying an additional 1,050,703 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.
About International Game Technology
International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.
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