Why International Game Technology’s Shares Plunged 18% Today
Cisco Systems, Inc. (NASDAQ:CSCO) most recently posted actual quarterly EPS of $0.54 compared to the Zacks Research consensus estimate of $0.53. Perhaps, that suggests something about why 41.34% of the outstanding share supply is held by institutional investors.
In the quarter ending June 2016, International Game Technology PLC delivered an even larger earnings beat. For the last month, company shares are -17.38%. Two Sigma Advisers LP increased its position in shares of International Game Technology by 3.3% in the third quarter. During the same quarter a year ago, the company earned $0.57 earnings per share. For the quarter, shares have been noted at -71.26%. Union Gaming Research initiated the shares of IGT in report on Tuesday, August 18 with “Buy” rating. The consensus recommendation by Thomson Reuters Analysts is Outperform for ALQA and their mean rating for the stock is 1.80 on scale of 1-5.
Investors and analysts will be paying close attention when the company posts earnings results.
Looking at the universe of stocks we cover at Dividend Channel, in trading on Thursday, shares of International Game Technology PLC (Symbol: IGT) were yielding above the 4% mark based on its quarterly dividend (annualized to $0.80), with the stock changing hands as low as $17.25 on the day. These ratios are price to earnings, price to cash flow, EBITDA to EV, price to book value, and price to sales.
Stock is now moving with a negative distance from the 200 day simple moving average of approximately -27.14%, and has a poor year to date (YTD) performance of -28.49% which means the stock is constantly subtracting to its value from the previous fiscal year end price. International Game Technology has a 12-month low of $17.25 and a 12-month high of $32.07.
Covering sell-side analysts have recently weighed in on shares of International Game Technology PLC (NYSE:IGT). The business’s revenue was down 10.1% compared to the same quarter previous year.
Analysts’ mean recommendation for International Game Technology PLC (IGT) stands at 2.40. Stockholders of record on Thursday, June 8th will be paid a dividend of $0.20 per share. Breaking those down we see that the ratings are as follows: 13 Strong Buy, 3 Rated Buy, 6 Rated Hold and 0 Rated Sell. 13,123 shares or 187.41% more from 4,566 shares in 2016Q3 were reported. If you are viewing this news story on another site, it was illegally copied and republished in violation of US and worldwide copyright & trademark legislation. The legal version of this story can be viewed at https://baseballnewssource.com/markets/international-game-technology-igt-releases-earnings-results-misses-expectations-by-0-18-eps/841539.html.
A number of other institutional investors have also recently bought and sold shares of IGT. The stock of International Game Technology Ordinary Shares (NYSE:IGT) has “Market Perform” rating given on Wednesday, August 12 by Telsey Advisory Group. Bank of America Corp cut shares of International Game Technology from a “buy” rating to a “neutral” rating and set a $30.00 price objective on the stock.in a research report on Thursday, January 26th. Bank of America has “Buy” rating and $27 target. Share performance for the month is now at -3.67%.
The company’s consensus rating is now Hold, with 2 analysts rating it a Strong Buy, and 4 analysts rating it with a Hold.