International Game Technology PLC [IGT] Stock trading around $33.20 per share: What’s Next?

International Game Technology PLC [NYSE: IGT] surged by $3.14 during the normal trading session on Thursday and reaching a high of $33.48 during the day while it closed the day at $33.20. The company report on August 30, 2023 at 6:45 AM that IGT Enhances iLottery in Lithuania with Remote Game Server and Compelling eInstants.

International Game Technology PLC (“IGT”) (NYSE:IGT) today announced that its subsidiary, IGT Global Solutions Corporation, has signed a contract with EULOTO UAB (“Euloto”), the operator providing lottery in the Republic of Lithuania. As part of the agreement, IGT will deploy its advanced cloud-based remote game server (RGS) and at least 12 eInstant games each year.

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IGT will integrate its RGS platform with Euloto’s iLottery system, enabling Euloto to have access to a wide variety of eInstant content. IGT’s eInstant product lineup contains numerous themes, play styles, omnichannel games, popular licensed content and the award-winning progressive jackpot games. Engaging game titles include Gold Blast, Shocking 6’s and Castle Cash.

International Game Technology PLC stock has also gained 6.65% of its value over the past 7 days. However, IGT stock has inclined by 5.87% in the 3 months of the year. Over the past six months meanwhile, it has gained 38.28% and gained 46.38% year-on date.

The market cap for IGT stock reached $6.76 billion, with 199.68 million shares outstanding and 102.26 million shares in the current float. Compared to the average trading volume of 1.10M shares, IGT reached a trading volume of 4082575 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about International Game Technology PLC [IGT]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IGT shares is $36.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IGT stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Susquehanna have made an estimate for International Game Technology PLC shares, keeping their opinion on the stock as Positive, with their previous recommendation back on May 11, 2023.

The Average True Range (ATR) for International Game Technology PLC is set at 0.82, with the Price to Sales ratio for IGT stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 4.68, with the Price to Cash per share for the same quarter was set at 3.29. Price to Free Cash Flow for IGT in the course of the last twelve months was 11.61 with Quick ratio for the last quarter at 0.90.

IGT stock trade performance evaluation

International Game Technology PLC [IGT] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.65. With this latest performance, IGT shares gained by 4.57% in over the last four-week period, additionally plugging by 38.28% over the last 6 months – not to mention a rise of 84.96% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IGT stock in for the last two-week period is set at 62.97, with the RSI for the last a single of trading hit 68.15, and the three-weeks RSI is set at 60.10 for International Game Technology PLC [IGT]. The present Moving Average for the last 50 days of trading for this stock 32.06, while it was recorded at 31.04 for the last single week of trading, and 27.73 for the last 200 days.

International Game Technology PLC [IGT]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and International Game Technology PLC [IGT] shares currently have an operating margin of +22.04 and a Gross Margin at +47.34. International Game Technology PLC’s Net Margin is presently recorded at +6.51.

Return on Total Capital for IGT is now 11.06, given the latest momentum, and Return on Invested Capital for the company is 3.57. Return on Equity for this stock inclined to 20.29, with Return on Assets sitting at 2.53. When it comes to the capital structure of this company, International Game Technology PLC [IGT] has a Total Debt to Total Equity ratio set at 421.76. Additionally, IGT Total Debt to Total Capital is recorded at 80.83, with Total Debt to Total Assets ending up at 57.77. Long-Term Debt to Equity for the company is recorded at 414.91, with the Long-Term Debt to Total Capital now at 79.52.

Reflecting on the efficiency of the workforce at the company, International Game Technology PLC [IGT] managed to generate an average of $25,496 per employee. Receivables Turnover for the company is 3.51 with a Total Asset Turnover recorded at a value of 0.39.International Game Technology PLC’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.00.

Earnings per share (EPS) analysis for International Game Technology PLC [IGT] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IGT. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for International Game Technology PLC go to 33.45%.

International Game Technology PLC [IGT]: Institutional Ownership

The top three institutional holders of IGT stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in IGT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in IGT stock with ownership which is approximately 5.7381%.

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