International Game Technology PLC [IGT] stock is trading at $27.17, up 5.68%. Until recently, the best way to gauge how the stock has performed was to look at its short-term value. The IGT shares have gain 5.43% over the last week, with a monthly amount glided 2.57%, and seem to be holding up well over a long-time horizon.
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On 29, February 2024, IGT’s Global Gaming and PlayDigital Businesses to Combine with Everi, Creating a Comprehensive Global Gaming and FinTech Enterprise. In a post published today on Yahoo Finance, Business combination creates a comprehensive and diverse portfolio of high-performing land-based, digital, and fintech gaming products and services.
From an analyst’s perspective:
International Game Technology PLC [NYSE: IGT] stock has seen the most recent analyst activity on January 04, 2024, when Jefferies downgraded its rating to a Hold and also revised its price target to $29 from $36. Previously, Susquehanna upgraded its rating to Positive on May 11, 2023, and kept the price target unchanged to $31. On April 20, 2023, B. Riley Securities initiated with a Buy rating and assigned a price target of $43 on the stock. Jefferies upgraded its rating to a Buy and decreased its price target to $26 on May 12, 2022. Stifel initiated its recommendation with a Buy and recommended $43 as its price target on December 17, 2021. Jefferies downgraded its rating to Hold for this stock on November 17, 2021, and downed its price target to $33. In a note dated October 19, 2021, Berenberg initiated an Buy rating and provided a target price of $35 on this stock.
International Game Technology PLC [IGT] stock has fluctuated between $22.30 and $33.99 over the past year. Currently, Wall Street analysts expect the stock to reach $38.33 within the next 12 months. International Game Technology PLC [NYSE: IGT] shares were valued at $27.17 at the most recent close of the market. An investor can expect a potential return of 41.07% based on the average IGT price forecast.
Analyzing the IGT fundamentals
International Game Technology PLC [NYSE:IGT] reported sales of 4.27B for the trailing twelve months, which represents a growth of 0.38%. Gross Profit Margin for this corporation currently stands at 0.49% with Operating Profit Margin at 0.17%, Pretax Profit Margin comes in at 0.14%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.02, Equity is 0.12 and Total Capital is 0.08. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of4.07.
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 26.25 points at the first support level, and at 25.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 27.68, and for the 2nd resistance point, it is at 28.19.
International Game Technology PLC [IGT] reported earnings per share of $0.46 for its fiscal quarter that ended on 9/29/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.39/share, meaning a difference of $0.07 and a surprise factor of 17.90%. By comparison, the stated earnings for the previous quarter ended on 6/29/2023 were $0.23 per share as compared to estimates of $0.34 per share, a difference of -$0.11 representing a surprise of -32.40%.
Ratios To Look Out For
For context, International Game Technology PLC’s Current Ratio is 1.14. As well, the Quick Ratio is 0.96, while the Cash Ratio is 0.3. Considering the valuation of this stock, the price to sales ratio is 1.28, the price to book ratio is 3.66 and price to earnings (TTM) ratio is 56.28.
