International Game Technology PLC Expected to Earn Q2 2022 Earnings of $0.25 Per Share (NYSE:IGT)

International Game Technology PLC (NYSE:IGT – Get Rating) – Equities researchers at Jefferies Financial Group cut their Q2 2022 earnings per share (EPS) estimates for International Game Technology in a report issued on Thursday, May 12th. Jefferies Financial Group analyst D. Katz now forecasts that the company will post earnings per share of $0.25 for the quarter, down from their previous forecast of $0.33. Jefferies Financial Group currently has a “Buy” rating and a $26.00 price target 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.

IGT has been the topic of several other research reports. Credit Suisse Group raised their price target on shares of International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. Deutsche Bank Aktiengesellschaft dropped their objective price on shares of International Game Technology from $39.00 to $37.00 in a report on Wednesday. Finally, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday. Six equities research analysts have rated the stock with a buy rating, based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $40.80.

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IGT opened at $20.18 on Friday. The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.20 and a current ratio of 1.43. The business’s 50-day simple moving average is $23.28 and its 200-day simple moving average is $26.42. International Game Technology has a one year low of $17.27 and a one year high of $32.95. The stock has a market capitalization of $4.11 billion, a P/E 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.06. International Game Technology had a return on equity of 3.35% and a net margin of 11.37%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the business posted $0.38 earnings per share. International Game Technology’s revenue for the quarter was up 3.5% on a year-over-year basis.

Hedge funds have recently modified their holdings of the stock. FMR LLC increased its holdings in International Game Technology by 222.8% during the 1st quarter. FMR LLC now owns 2,057,614 shares of the company’s stock valued at $26,729,000 after purchasing an additional 1,420,212 shares during the period. Morgan Stanley raised its holdings in International Game Technology by 147.7% in the 2nd quarter. Morgan Stanley now owns 1,248,905 shares of the company’s stock worth $29,924,000 after acquiring an additional 744,706 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in International Game Technology by 15.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 13,691 shares of the company’s stock worth $360,000 after acquiring an additional 1,883 shares during the last quarter. PNC Financial Services Group Inc. its raised holdings in International Game Technology by 19.9% ​​in the 3rd quarter. PNC Financial Services Group Inc. Now owns 3,612 shares of the company’s stock worth $96,000 after acquiring an additional 600 during the last quarter. Finally, Principal Financial Group Inc. its raised holdings in International Game Technology by 44.1% in the 3rd quarter. Principal Financial Group Inc. now owns 535,171 shares of the company’s stock worth $14,086,000 after acquiring an additional 163,678 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th will be issued 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 (DPR) is currently 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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Earnings History and Estimates for International Game Technology (NYSE:IGT)

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