International Game Technology (IGT) Scheduled to Post Earnings on Tuesday

International Game Technology (NYSE:IGT) is scheduled to be posting its quarterly earnings results before the market opens on Tuesday, July 30th. Analysts expect International Game Technology to post earnings of $0.36 per share for the quarter. International Game Technology has set its FY 2024 guidance at EPS and its Q2 2024 guidance at EPS.Investors that are interested in registering for the company’s conference call can do so using this link.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.17. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the business earned $0.49 earnings per share. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. On average, analysts expect International Game Technology to post $1 EPS for the current fiscal year and $2 EPS for the next fiscal year.

International Game Technology Stock Up 17.9 %

IGT stock opened at $23.77 on Monday. International Game Technology has a twelve month low of $18.90 and a twelve month high of $33.99. The company has a market cap of $4.73 billion, a PE ratio of 22.64 and a beta of 1.98. The business’s 50-day simple moving average is $20.46 and its 200 day simple moving average is $22.26. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, May 30th. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on IGT shares. B. Riley reissued a “buy” rating and set a $30.00 target price on shares of International Game Technology in a research report on Friday. Susquehanna cut their price target on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research note on Thursday, May 16th. Truist Financial cut their price target on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Wednesday, May 15th. StockNews.com cut shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. Finally, Stifel Nicolaus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and raised their price target for the stock from $24.00 to $26.00 in a research note on Thursday, May 30th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $28.00.

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.