International Game Technology (NYSE:IGT) Posts Earnings Results, Misses Expectations By $0.10 EPS

International Game Technology (NYSE:IGT - Get Free Report) posted its earnings results on Tuesday. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.10), RTT News reports. The business had revenue of $651.00 million for the quarter, compared to analysts' expectations of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.56 EPS. International Game Technology updated its FY 2025 guidance to EPS.

International Game Technology Price Performance

International Game Technology stock traded down $0.23 during mid-day trading on Friday, hitting $17.70. 1,431,961 shares of the company were exchanged, compared to its average volume of 1,443,409. The business's 50 day simple moving average is $17.34 and its two-hundred day simple moving average is $19.50. International Game Technology has a 12-month low of $16.42 and a 12-month high of $27.27. The company has a market capitalization of $3.52 billion, a P/E ratio of 29.49 and a beta of 1.91. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.52%. The ex-dividend date is Tuesday, March 11th. International Game Technology's dividend payout ratio (DPR) is presently 46.78%.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IGT. Truist Financial decreased their target price on International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. StockNews.com cut shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, International Game Technology has an average rating of "Moderate Buy" and an average target price of $28.00.

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.