B. Riley Comments on International Game Technology PLC’s Q3 2024 Earnings (NYSE:IGT)

International Game Technology PLC (NYSE:IGT) – Stock analysts at B. Riley issued their Q3 2024 earnings estimates for International Game Technology in a research report issued to clients and investors on Wednesday, July 31st. B. Riley analyst D. Bain anticipates that the company will earn $0.29 per share for the quarter. B. Riley currently has a “Buy” rating and a $30.00 target price on the stock. The consensus estimate for International Game Technology’s current full-year earnings is $1.43 per share. B. Riley also issued estimates for International Game Technology’s Q4 2024 earnings at $0.33 EPS, FY2024 earnings at $1.42 EPS, Q1 2025 earnings at $0.32 EPS, Q2 2025 earnings at $0.45 EPS, Q3 2025 earnings at $0.48 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $1.79 EPS.

Other equities analysts have also recently issued research reports about the stock. 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. Stifel Nicolaus raised their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research note on Wednesday. Susquehanna decreased their price objective on International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a report on Thursday, May 16th. Finally, Truist Financial dropped their target price on International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $28.67.

International Game Technology Stock Performance

Shares of NYSE IGT opened at $21.67 on Friday. The firm has a market capitalization of $4.31 billion, a price-to-earnings ratio of 20.64 and a beta of 1.98. International Game Technology has a one year low of $18.90 and a one year high of $33.48. The business has a fifty day simple moving average of $20.72 and a 200 day simple moving average of $22.18. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.29 by $0.07. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the firm posted $0.45 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis.

Institutional Investors Weigh In On International Game Technology

A number of large investors have recently bought and sold shares of the business. Norges Bank bought a new position in International Game Technology in the 4th quarter valued at $35,011,000. Wellington Management Group LLP raised its holdings in shares of International Game Technology by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock valued at $74,495,000 after buying an additional 509,722 shares during the last quarter. Okabena Investment Services Inc. acquired a new position in International Game Technology during the 4th quarter worth about $1,397,000. Beryl Capital Management LLC bought a new stake in International Game Technology during the 4th quarter worth about $16,431,000. Finally, SG Americas Securities LLC increased its position in International Game Technology by 10.8% in the 1st quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after acquiring an additional 836 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.69%. The ex-dividend date is Tuesday, August 13th. International Game Technology’s payout ratio is currently 76.19%.

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.