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

International Game Technology (NYSE:IGT) posted its quarterly earnings results on Tuesday. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24), Briefing.com reports. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. During the same period last year, the firm earned $0.52 EPS. The business’s revenue for the quarter 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 International Game Technology stock opened at $20.90 on Thursday. The firm has a market cap of $4.16 billion, a price-to-earnings ratio of 34.83 and a beta of 1.96. 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 has a 1 year low of $18.90 and a 1 year high of $28.82. The company has a 50-day moving average of $21.05 and a 200 day moving average of $20.93.

International Game Technology Announces Dividend

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

Analyst Ratings Changes

IGT has been the topic of a number of analyst reports. Stifel Nicolaus upped their target price on shares of International Game Technology from $26.00 to $30.00 and gave the stock 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 reaffirmed a “buy” rating and set a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.