International Game Technology PLC (NYSE: IGT) stock jumped 10.45% on Thursday to $33.20 against a previous-day closing price of $30.06. With 4.08 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.1 million shares. During the session, the Gambling company that operates in wider Consumer Cyclical sector, reached to the highest price of $33.48 whereas the lowest price it dropped to was $32.01. The 52-week range on IGT shows that it touched its highest point at $33.99 and its lowest point at $15.01 during that stretch. It currently has a 1-year price target of $36.96. With its current market cap of 6.76 billion, IGT has annualized dividend of $0.80 while the current yield stands at 2.41%. Beta for the stock currently stands at 1.98.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of IGT was up-trending over the past week, with a rise of 6.65%, but this was up by 4.57% over a month. Three-month performance surged to 5.87% while six-month performance rose 38.28%. The stock gained 84.96% in the past year, while it has gained 46.38% so far this year. A look at the trailing 12-month EPS for IGT yields 1.32 with Next year EPS estimates of 2.05. For the next quarter, that number is 0.41. This implies an EPS growth rate of 330.10% for this year and 46.29% for next year. EPS is expected to grow by 33.45% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 17.40%.
Float and Shares Shorts:
At present, 199.68 million IGT shares are outstanding with a float of 102.26 million shares on hand for trading. On Aug 30, 2023, short shares totaled 2.57 million, which was 1.28% higher than short shares on Jul 30, 2023. In addition to Mr. Marco Sala as the firm’s Exec. Chairman, Mr. Vincent L. Sadusky serves as its Pres, CEO & Exec. Director.
Through their ownership of 46.84% of IGT’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 22.22% of IGT, in contrast to 21.98% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in IGT with 3.94% of the stake, Newton Investment Management Nort holds 7,961,176 shares worth 7,961,176. A second-largest stockholder of IGT, Massachusetts Financial Services, holds 7,088,937 shares, controlling over 3.50% of the firm’s shares. Lazard Asset Management LLC is the third largest shareholder in IGT, holding 6,105,983 shares or 3.02% stake. With a 1.69% stake in IGT, the MFS Mid Cap Value Fund is the largest stakeholder. A total of 3,419,140 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.22% of IGT stock, is the second-largest Mutual Fund holder. It holds 2,474,926 shares valued at 83.73 million. John Hancock III – Disciplined Va holds 0.93% of the stake in IGT, owning 1,888,650 shares worth 63.89 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, IGT reported revenue of $1.02B and operating income of $78.00M. The EBITDA in the recently reported quarter was $251.00M and diluted EPS was -$0.02.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for IGT since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With IGT analysts setting a high price target of $54.00 and a low target of $27.60, the average target price over the next 12 months is $38.23. Based on these targets, IGT could surge 62.65% to reach the target high and fall by -16.87% to reach the target low. Reaching the average price target will result in a growth of 15.15% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.