Griping Stock: International Game Technology PLC (NYSE: IGT)

International Game Technology PLC (NYSE: IGT) spotted trading -19.89% off 52-week high price. On the other end, the stock has been noted 26.33% away from the low price over the last 52-weeks. The stock changed 0.70% to recent value of $14.3. The stock transacted 1486610 shares during most recent day however it has an average volume of 1746.38K shares. The company has 208.26M of outstanding shares and 98.27M shares were floated in the market.

International Game Technology PLC (IGT) recently stated financial results for the third quarter ended September 30, 2019.

“Our core businesses achieved important momentum in the third quarter and year-to-date periods,” stated Marco Sala, CEO of IGT. “Key performance indicators were solid in the quarter – gaming machine unit shipments increased 44%, while same-store revenue for draw games and instants rose 4%. Our leading positions are rooted in our focus on player-driven performance, which was on display at recent lottery and gaming trade shows and should sustain our momentum going forward.”

“IGT has generated free cash flow in excess of $450M in the first nine months,” stated Alberto Fornaro, CFO of IGT. “This confirms the inflection we predictable to achieve this year. We are well positioned to achieve our 2019 planned and financial goals.”

Consolidated revenue of $1.15B, up 3% at constant currency

Sharp growth in global gaming product sales

Overcame important Finland multi-year software sale in prior-year quarter and impact of higher machine gaming taxes in Italy

At constant currency, operating income down 19% to $154M; adjusted operating income down 11% to $221M

Non-cash write-down of pre-paid social gaming-related license

Adjusted EBITDA declined 5% at constant currency to $407M

Differential profit flow-through on revenue mix, primarily Because of high-margin Finland software transaction in previous year

Higher R&D and SG&A expenses, primarily Because of timing

Interest expense, net was $103M, down 1% from the prior-year quarter

Income taxes of $45M; adjusted taxes of $51M, down from $60M on lower pre-tax income

Net income attributable to IGT was $104M; adjusted net income attributable to IGT was $43M, down from $64M in the previous year

Net income per diluted share of $0.51; adjusted net income per diluted share of $0.21 versus $0.31 in the previous year

Net debt of $7.35B, down 5% from $7.76B at December 31, 2018

Its earnings per share (EPS) expected to touch remained 97.30% for this year while earning per share for the next 5-years is expected to reach at -0.91%. IGT has a gross margin of 38.30% and an operating margin of 12.40% while its profit margin remained 1.00% for the last 12 months.   According to the most recent quarter its current ratio was 1 that represents company’s ability to meet its current financial obligations. The price moved ahead of -3.61% from the mean of 20 days, -2.70% from mean of 50 days SMA and performed 3.75% from mean of 200 days price. Company’s performance for the week was -6.29%, -3.96% for month and YTD performance remained -4.48%.