There is no shortage of investors who are bullish on International Game Technology PLC (IGT) stock

International Game Technology PLC [IGT] stock is trading at $16.60, up down -4.16%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The IGT shares have lost -6.53% over the last week, with a monthly amount drifted -14.39%, and not seem to be holding up well over a long-time horizon.

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On 20, September 2022, IGT to Introduce Self-Serve Lottery Terminals in Ontario via 15-Year Contract with OLG. In a post published today on Yahoo Finance, International Game Technology PLC (“IGT”) (NYSE: IGT) announced today that its subsidiary, IGT Global Solutions Corporation, was chosen by the Ontario Lottery and Gaming Corporation (“OLG”) following a competitive procurement as the primary technology provider of self-serve lottery terminals. This agreement marks the first time that self-serve technology is expected to be available to lottery players in Ontario. The contract will run until June 2027 and includes 10 additional one-year contract extension options. Subject to further government approvals, terminals will begin to be installed in retail locations in the second half of 2023.

From an analyst’s perspective:

International Game Technology PLC [NYSE: IGT] stock has seen the most recent analyst activity on May 12, 2022, when Jefferies upgraded its rating to a Buy and also revised its price target to $26 from $30. Previously, Stifel started tracking the stock with Buy rating on December 17, 2021, and set its price target to $43. On November 17, 2021, downgrade downgraded it’s rating to Hold and revised its price target to $33 on the stock. Berenberg started tracking the stock assigning a Buy rating and suggested a price target of $35 on October 19, 2021. Jefferies upgraded its rating to Buy for this stock on January 19, 2021, but kept the price target unchanged to $24. In a note dated January 12, 2021, Argus upgraded an Buy rating on this stock but restated the target price of $21.

International Game Technology PLC [IGT] stock has fluctuated between $16.46 and $32.95 over the past year. Currently, Wall Street analysts expect the stock to reach $30.84 within the next 12 months. International Game Technology PLC [NYSE: IGT] shares were valued at $16.60 at the most recent close of the market. An investor can expect a potential return of 85.78% based on the average price forecast.

Analyzing the IGT fundamentals

International Game Technology PLC [NYSE:IGT] reported sales of 1.02 billion for the most recent quarter, which represents a drop of -1.90%. Gross Margin for this corporation currently stands at +47.88% with Operating Margin at +22.25%, Pretax Margin comes in at +12.94%, and Net Margin reading is +1.59%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 16.26 points at the first support level, and at 15.93 for the second support level. However, for the 1st resistance point, the stock is sitting at 17.25, and for the 2nd resistance point, it is at 17.90.

International Game Technology PLC [IGT] reported earnings per share of $0.39 for its fiscal quarter that ended on 3/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.33/share, meaning a difference of $0.06 and a surprise factor of 18.20%. By comparison, the stated earnings for the previous quarter ended on 12/30/2021 were $0.87 per share as compared to estimates of $0.49 per share, a difference of $0.38 representing a surprise of 77.60%.

Ratios To Look Out For

For context, International Game Technology PLC’s Current Ratio is 1.60. Further, the Quick Ratio stands at 1.20, while the Cash Ratio is 0.42. Considering the valuation of this stock, the price to sales ratio is 1.46, the price to book ratio is 4.59 and the P/E (TTM) ratio is 21.39.