Last Updated: 12 Nov 2024
Executive Summary
International Game Technology PLC (IGT) is a global gaming technology provider with a market capitalization of $43.2 billion. The company has been facing challenges in recent quarters, with revenue and earnings declining year-over-year. However, IGT's strong balance sheet and analyst recommendations suggest that the company is well-positioned for long-term growth.
Company Overview
IGT provides a range of gaming products and services, including slot machines, table games, and online gaming platforms. The company operates in over 100 countries and has a workforce of over 10,000 employees. IGT's largest markets are the United States, Canada, and the United Kingdom.
Fundamental Analysis
IGT's financial performance has been mixed in recent years. Revenue has declined in each of the past three quarters, and earnings per share (EPS) has also declined. However, the company's balance sheet remains strong, with $1.6 billion in cash and equivalents and no long-term debt.
Technical Analysis
IGT's stock price has been trading in a range between $18.53 and $27.99 over the past 52 weeks. The stock is currently trading at $21.4, which is below its 50-day and 200-day moving averages.
Short Term Outlook
IGT's short-term outlook is mixed. The company is facing challenges in its core markets, and revenue and earnings are expected to continue to decline in the near term. However, the company's strong balance sheet and analyst recommendations suggest that the stock could be a good value at current levels.
Long Term Outlook
IGT's long-term outlook is more positive. The company is well-positioned to benefit from the growing global gaming market. IGT's strong brand, global reach, and innovative products should help the company to drive growth in the years to come.
Analyst Recommendations
Analysts are generally positive on IGT. Two analysts have a "Strong Buy" rating on the stock, two have a "Buy" rating, and four have a "Hold" rating. The average analyst target price is $27.64, which represents a potential upside of over 20% from the current price.
