Research Analysts Issue Forecasts for International Game Technology PLC’s FY2020 Earnings (IGT)

International Game Technology PLC (NYSE:IGT) – Equities research analysts at SunTrust Banks raised their FY2020 earnings estimates for shares of International Game Technology in a report issued on Wednesday, January 9th. SunTrust Banks analyst B. Jonas now expects that the company will post earnings per share of $1.44 for the year, up from their prior estimate of $1.34. SunTrust Banks currently has a “Buy” rating on the stock.

International Game Technology (NYSE:IGT) last posted its earnings results on Wednesday, October 31st. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was down 5.3% compared to the same quarter last year.

A number of other analysts have also recently commented on the company. Deutsche Bank reiterated a “buy” rating and set a $29.00 target price on shares of International Game Technology in a research report on Monday, December 24th. ValuEngine cut International Game Technology from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Jefferies Financial Group set a $29.00 price target on International Game Technology and gave the company a “buy” rating in a research report on Thursday, December 20th. Susquehanna Bancshares began coverage on International Game Technology in a research report on Friday, December 7th. They issued a “positive” rating and a $22.00 price target on the stock. Finally, Argus dropped their price target on International Game Technology from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. International Game Technology has an average rating of “Buy” and a consensus price target of $24.69.

IGT opened at $16.08 on Friday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.88 and a current ratio of 1.03. International Game Technology has a one year low of $13.33 and a one year high of $31.00. The stock has a market cap of $3.33 billion, a PE ratio of 10.58, a PEG ratio of 1.01 and a beta of 1.33.

A number of hedge funds have recently modified their holdings of the stock. Marshall Wace North America L.P. boosted its holdings in International Game Technology by 41.3% in the 3rd quarter. Marshall Wace North America L.P. now owns 5,747,367 shares of the company’s stock valued at $113,510,000 after purchasing an additional 1,680,947 shares in the last quarter. Rubric Capital Management LP boosted its holdings in International Game Technology by 65.9% in the 3rd quarter. Rubric Capital Management LP now owns 3,850,000 shares of the company’s stock valued at $76,038,000 after purchasing an additional 1,530,000 shares in the last quarter. Jennison Associates LLC boosted its holdings in International Game Technology by 21.4% in the 3rd quarter. Jennison Associates LLC now owns 1,900,091 shares of the company’s stock valued at $37,527,000 after purchasing an additional 334,822 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in International Game Technology by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,871,808 shares of the company’s stock valued at $36,968,000 after purchasing an additional 6,156 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in International Game Technology by 50.7% in the 3rd quarter. Vanguard Group Inc. now owns 1,700,216 shares of the company’s stock valued at $33,580,000 after purchasing an additional 571,981 shares in the last quarter. Hedge funds and other institutional investors own 51.70% of the company’s stock.

About International Game Technology

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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