International Game Technology (NYSE:IGT) Releases Earnings Results, Misses Estimates By $0.24 EPS

International Game Technology (NYSE:IGT) posted its quarterly earnings data on Tuesday. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24), Briefing.com reports. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $587.00 million for the quarter, compared to analyst estimates of $591.50 million. During the same quarter in the prior year, the company earned $0.52 earnings per share. The company’s quarterly revenue was down 2.3% on a year-over-year basis. International Game Technology updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

International Game Technology Stock Down 0.4 %

Shares of NYSE IGT opened at $20.90 on Thursday. The stock has a market capitalization of $4.16 billion, a P/E ratio of 34.83 and a beta of 1.96. The company has a 50-day moving average price of $21.05 and a 200-day moving average price of $20.93. International Game Technology has a 1 year low of $18.90 and a 1 year high of $28.82. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 0.71.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s dividend payout ratio is currently 133.34%.

Analysts Set New Price Targets

IGT has been the topic of a number of research analyst reports. Stifel Nicolaus upped their target price on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.67.

About International Game Technology

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.