In the last trading session, 1,330,733 shares of the International Game Technology PLC (NYSE:IGT) were traded, and its beta was 2.3. Most recently the company’s share price was $17.2, and it changed around $0.67 or 0.04% from the last close, which brings the market valuation of the company to $3.52 Billion. IGT currently trades at a discount to its 52-week high of $20.3, offering almost -18.02% off that amount. The share price’s 52-week low was $5.39, which indicates that the current value has risen by an impressive 68.66% since then. We note from International Game Technology PLC’s average daily trading volume that its 10-day average is 2.28 Million shares, with the 3-month average coming to 2.62 Million.
International Game Technology PLC stock received a consensus recommendation rating of Overweight, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 8 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 2 recommended IGT as a Hold, whereas 6 deemed it a Buy, and no one rated it as Underweight. International Game Technology PLC is expected to report earnings per share of $0.05 for the current quarter.
International Game Technology PLC (NYSE:IGT): Trading Information
Instantly IGT has showed a green trend with a performance of 4.05% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $17.29 on Monday, Apr 05 increased the stock’s daily price by 0.52%. The company’s shares are currently up 0.02% year-to-date, but still up 0.0723 over the last five days. On the other hand, International Game Technology PLC (NYSE:IGT) is 0.02% up in the 30-day period. We can see from the shorts that 2.98 Million shares have been sold at a short interest cover period of 1.14 day (s).
The consensus price target as assigned by Wall Street analysts is $24.31, which translates to bears needing to increase their stock price by 41.34% from its current value. Analyst projections state that IGT is forecast to be at a low of $17 and a high of $28. In order for the stock price to hit the forecast high, the stock would need to surge +62.79% from its current level, while the stock would need to crash -1.16% from its current level to reach the projected low.
International Game Technology PLC (IGT) projections and forecasts
International Game Technology PLC share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +47.77 percent over the past six months and at a -166.67% annual growth rate that is well below the industry average of 22.3%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -83.9% in revenue this quarter, and will report an increase of 12.5% in the next quarter. The year-over-year growth rate is expected to be -34.9%, down from the previous year.
Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $556.27 Million in revenue for the current quarter. 5 analysts expect International Game Technology PLC to make $874.59 Million in revenue for the quarter ending in May 2021. The company’s sales for the same quarters a year ago were $1.25 Billion and $940.2 Million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -55.6%. Forecasts for the next quarter put sales growth at -7%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -63.5%. International Game Technology PLC earnings are expected to decrease by -627.5% in 2021, but the outlook is positive 30.18% per year for the next five years.
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International Game Technology PLC (NYSE:IGT)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 51.63% of International Game Technology PLC shares, and 43.01% of them are in the hands of institutional investors. The stock currently has a share float of 88.93%. International Game Technology PLC stock is held by 271 institutions, with Blackrock Inc. being the largest institutional investor. By Dec 30, 2020, it held 5.6% of the shares, which is about 11.48 Million shares worth $194.47 Million.
Boston Partners, with 3.65% or 7.48 Million shares worth $126.76 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Fidelity Small Cap Value Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jan 30, 2021. The former held 2864000 shares worth $46.14 Million, making up 1.4% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 2.42 Million shares worth around $44.18 Million, which represents about 1.18% of the total shares outstanding.