Analysts forecast that International Game Technology PLC (NYSE:IGT) will report sales of $1.19 billion for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for International Game Technology’s earnings, with estimates ranging from $1.15 billion to $1.21 billion. International Game Technology posted sales of $1.20 billion during the same quarter last year, which would indicate a negative year over year growth rate of 0.8%. The firm is scheduled to report its next earnings report on Tuesday, July 30th.

On average, analysts expect that International Game Technology will report full year sales of $4.82 billion for the current fiscal year, with estimates ranging from $4.69 billion to $4.89 billion. For the next fiscal year, analysts expect that the firm will report sales of $4.92 billion, with estimates ranging from $4.77 billion to $5.09 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover International Game Technology.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Monday, May 20th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.11). The company had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a negative net margin of 0.44% and a positive return on equity of 7.64%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share.

Several equities research analysts recently issued reports on the company. ValuEngine cut International Game Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. Credit Suisse Group reiterated a “neutral” rating on shares of International Game Technology in a research note on Wednesday, March 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $23.64.

Shares of IGT stock traded down $0.51 during trading on Wednesday, hitting $13.43. The company had a trading volume of 2,943,684 shares, compared to its average volume of 3,021,589. The company has a current ratio of 1.14, a quick ratio of 1.00 and a debt-to-equity ratio of 2.90. The stock has a market cap of $2.81 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 1.16 and a beta of 1.36. International Game Technology has a one year low of $12.65 and a one year high of $28.70.

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 5.96%. The ex-dividend date of this dividend is Friday, May 31st. International Game Technology’s dividend payout ratio (DPR) is currently 81.63%.

Institutional investors and hedge funds have recently made changes to their positions in the business. Stifel Financial Corp acquired a new position in International Game Technology during the fourth quarter valued at approximately $295,000. Fox Run Management L.L.C. acquired a new position in International Game Technology during the fourth quarter valued at approximately $496,000. Gamco Investors INC. ET AL raised its position in International Game Technology by 125.6% during the fourth quarter. Gamco Investors INC. ET AL now owns 49,756 shares of the company’s stock valued at $728,000 after purchasing an additional 27,700 shares in the last quarter. Canada Pension Plan Investment Board raised its position in International Game Technology by 11.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 17,010 shares of the company’s stock valued at $249,000 after purchasing an additional 1,810 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in International Game Technology by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 275,492 shares of the company’s stock valued at $4,029,000 after purchasing an additional 31,499 shares in the last quarter. Institutional investors and hedge funds own 49.21% 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 four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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Earnings History and Estimates for International Game Technology (NYSE:IGT)

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