Traders Focused Stock: International Game Technology PLC (NYSE: IGT)

International Game Technology PLC (NYSE: IGT) stock traded volume of 3359312 shares during its last trading session as compared to its average volume of 2542956 shares over the recent month. IGT ended its day with the downstream along the move of -2.07% and closed at the price of $15.59 before opening at $15.8. It has total market capitalization is $3187141681. 52-week range of the stock remained $ 11.32 – 17.93 while its day lowest price was $15.14 and its hit its day highest price at $15.88

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

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

Revenue of $257M, up 11%

  • Product sales revenue of $107M, up 36% over the previous year
  • Gaming service revenue of $146M, contrast to $152M in the prior-year period
  • Other service revenue driven by contribution from sports betting

Operating income of $62M, up 38% contrast to the previous year

  • Increased unit shipments
  • High-margin, multi-year technology license

Revenue of $281M, essentially in line with the previous year

  • Lottery service revenue of $215M, contrast to $225M in the previous year
  • Lottery product sales revenue up on strong demand for self-service vending machines
  • Gaming service revenue stable

Operating income of $51M, down from $60M

  • Impact of Illinois and lower jackpot activity (including effect on LMAs)
  • Expenses related to Rhode Island contract extension

2019 Outlook

  • Adjusted EBITDA of $1.675 – $1.735B remains unchanged
  • Updating capital expenditures to $450 – $500M; before $450 – $550M
  • Full-year EUR/USD exchange rate of 1.12

International Game Technology PLC observed return of 15.06% in 5 days trading activity. The stock was at 16.34% over one-month performance. IGT’s shares are at 28.21% for the quarter and driving a 0.45% return over the course of the past year and is now at 6.56% since this point in 2018. The average volatility for the week at 6.65% and for month was at 4.42%. Right now, the stock beta is 1.34.