International Game Technology (NYSE:IGT) Posts Quarterly Earnings Results, Misses Expectations By $0.24 EPS

International Game Technology (NYSE:IGT) issued 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. The business had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. International Game Technology’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 earnings per share. International Game Technology updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

International Game Technology Stock Down 0.1 %

Shares of IGT traded down $0.03 during midday trading on Wednesday, reaching $20.95. 156,708 shares of the company were exchanged, compared to its average volume of 1,105,819. The company has a market cap of $4.17 billion, a price-to-earnings ratio of 20.94 and a beta of 1.96. The stock has a 50-day moving average price of $21.06 and a 200-day moving average price of $20.92. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. International Game Technology has a 1-year low of $18.90 and a 1-year high of $28.82.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Tuesday, November 26th. International Game Technology’s dividend payout ratio is currently 78.43%.

Analysts Set New Price Targets

IGT has been the subject of a number of recent research reports. Stifel Nicolaus raised their price objective 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, July 31st. B. Riley restated a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Finally, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, International Game Technology has an average rating of “Moderate Buy” and an average 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.