International Sport Know-how (IGT) got here out with quarterly earnings of $0.26 per share, beating
International Sport Know-how (IGT) got here out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of a lack of $0.16 per share. This compares to earnings of $0.21 per share a 12 months in the past. These figures are adjusted for non-recurring objects.
This quarterly report represents an earnings shock of 262.50%. 1 / 4 in the past, it was anticipated that this slot machine maker would publish a lack of $0.72 per share when it really produced a lack of $0.59, delivering a shock of 18.06%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 occasions.
IGT, which belongs to the Zacks Gaming trade, posted revenues of $981.51 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 21.35%. This compares to year-ago revenues of $1.15 billion. The corporate has topped consensus income estimates 4 occasions over the past 4 quarters.
The sustainability of the inventory’s instant worth motion primarily based on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
IGT shares have misplaced about 32% for the reason that starting of the 12 months versus the S&P 500’s acquire of 9.7%.
What’s Subsequent for IGT?
Whereas IGT has underperformed the market up to now this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Buyers can monitor such revisions by themselves or depend on a tried-and-tested ranking device just like the Zacks Rank, which has a formidable monitor document of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for IGT was unfavorable. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You possibly can see the entire listing of right this moment’s Zacks #1 Rank (Robust Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.12 on $986.03 million in revenues for the approaching quarter and -$0.55 on $3.37 billion in revenues for the present fiscal 12 months.
Buyers must be conscious of the truth that the outlook for the trade can have a fabric affect on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Gaming is at present within the backside 25% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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Worldwide Sport Know-how (IGT): Free Inventory Evaluation Report
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