Intl Game Tech Stock (NYSE:IGT), Trade Ideas

Intl Game Tech

International Game Technology PLC is a gaming company that delivers entertaining and responsible gaming experiences for players across all channels. The company's operating segments include Global Lottery, Global Gaming, and PlayDigital. It generates maximum revenue from the Global Lottery segment. Global Lottery segment provides lottery products and services to governmental organizations through operating contracts, facilities management contracts, lottery management agreements, and product sales contracts. Geographically, it derives a majority of revenue from the United States.

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International Game Technology PLC (NYSE: IGT) posted upbeat results for its fourth quarter on Tuesday.

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IGT reported Q4 2023 revenue growth of 3%, beating expectations, with adjusted EPS of $0.56. Dividend declared, with outlook for Q1 revenue slightly below consensus.

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Ratings for Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) were provided by 7 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets, analyzed by analysts, offer insights with an average target of $28.14, a high estimate of $30.00, and a low estimate of $26.00. A 6.73% drop is evident in the current average compared to the previous average price target of $30.17. 
<img src="https://www.benzinga.com/files/images/story/2024/1713898834_0.png" alt="price target chart" />
<h2>Diving into Analyst Ratings: An In-Depth Exploration</h2>
The perception of Intl Game Tech by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$26.00</td>
<td>$28.00</td>
</tr>
<tr>
<td>David Bain</td>
<td>B. Riley Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$30.00</td>
<td>-</td>
</tr>
<tr>
<td>John Staszak</td>
<td>Argus Research</td>
<td>Lowers</td>
<td>Buy</td>
<td>$27.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Jeffrey Stantial</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$28.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Jeffrey Stantial</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$32.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Intl Game Tech. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Intl Game Tech compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of Intl Game Tech's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Assessing these analyst evaluations alongside crucial financial indicators can provide a comprehensive overview of Intl Game Tech's market position. Stay informed and make well-judged decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/IGT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Intl Game Tech analyst ratings.</a>
<h2>About Intl Game Tech</h2>
International Game Technology PLC is a gaming company that delivers entertaining and responsible gaming experiences for players across all channels. The company's operating segments include Global Lottery, Global Gaming, and PlayDigital. It generates maximum revenue from the Global Lottery segment. Global Lottery segment provides lottery products and services to governmental organizations through operating contracts, facilities management contracts, lottery management agreements, and product sales contracts. Geographically, it derives a majority of revenue from the United States.
<h3>Intl Game Tech: A Financial Overview</h3>
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: Intl Game Tech's revenue growth over a period of 3 months has been noteworthy. As of 31 December, 2023, the company achieved a revenue growth rate of approximately 3.39%. This indicates a substantial increase in the company's top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Intl Game Tech's net margin is impressive, surpassing industry averages. With a net margin of -0.71%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Intl Game Tech's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -0.55%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): Intl Game Tech's ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive -0.08% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 4.11, Intl Game Tech adopts a prudent financial strategy, indicating a balanced approach to debt management.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts are specialists within banking and financial systems that typically report for specific stocks or within defined sectors. These people research company financial statements, sit in conference calls and meetings, and speak with relevant insiders to determine what are known as analyst ratings for stocks. Typically, analysts will rate each stock once a quarter. 
Beyond their standard evaluations, some analysts contribute predictions for metrics like growth estimates, earnings, and revenue, furnishing investors with additional guidance. Users of analyst ratings should be mindful that this specialized advice is shaped by human perspectives and may be subject to variability.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Analyst Ratings For Intl Game Tech

Truist Securities analyst Barry Jonas maintains Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) with a Hold and lowers the price target from $28 to $26.

Truist Securities Maintains Hold on Intl Game Tech, Lowers Price Target to $26

International Game Technology PLC ("IGT") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) and Acres 4.0, Acres Manufacturing Company, and John Acres ("Acres") announced today that effective April 16, 2024, they have reached an agreement to resolve all legal disputes between the two companies. Terms of the settlement have not been announced.
&nbsp;
The resolution was reached in the United States District Court of Nevada, directed to United States patents that pertain to facilitating use of a financial transaction device in a cashless wagering system in a gaming system, and Nevada State Court directed to a breach of contract claims.
"IGT is pleased to reach a mutual agreement with Acres that resolves all disputes between us. This allows us to dedicate our collective resources where they are better served, driving continued innovation in the exciting and evolving cashless gaming space," said Nick Khin, IGT COO Gaming.
Adds John Acres, CEO of Acres, "We are thrilled to put this matter behind us and work cooperatively with IGT to build exciting new gambling experiences that can increase both player enjoyment and casino profits."

Legal

Acres And IGT To Resolve All Pending Litigation, Effective April 16, 2024; Terms Of The Settlement Have Not Been Announced

6 analysts have shared their evaluations of Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) during the recent three months, expressing a mix of bullish and bearish perspectives.
The table below provides a snapshot of their recent ratings, showcasing how sentiments have evolved over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $28.5, a high estimate of $30.00, and a low estimate of $26.00. A 6.86% drop is evident in the current average compared to the previous average price target of $30.60. 
<img src="https://www.benzinga.com/files/images/story/2024/1712343652_0.png" alt="price target chart" />
<h2>Deciphering Analyst Ratings: An In-Depth Analysis</h2>
The perception of Intl Game Tech by financial experts is analyzed through recent analyst actions. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Bain</td>
<td>B. Riley Securities</td>
<td>Announces</td>
<td>Buy</td>
<td>$30.00</td>
<td>-</td>
</tr>
<tr>
<td>John Staszak</td>
<td>Argus Research</td>
<td>Lowers</td>
<td>Buy</td>
<td>$27.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Jeffrey Stantial</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$28.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Jeffrey Stantial</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$32.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Intl Game Tech. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Delving into assessments, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings communicate expectations for the relative performance of Intl Game Tech compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Intl Game Tech's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Intl Game Tech's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/IGT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Intl Game Tech analyst ratings.</a>
<h2>Delving into Intl Game Tech's Background</h2>
International Game Technology PLC is a gaming company that delivers entertaining and responsible gaming experiences for players across all channels. The company's operating segments include Global Lottery, Global Gaming, and PlayDigital. It generates maximum revenue from the Global Lottery segment. Global Lottery segment provides lottery products and services to governmental organizations through operating contracts, facilities management contracts, lottery management agreements, and product sales contracts. Geographically, it derives a majority of revenue from the United States.
<h3>A Deep Dive into Intl Game Tech's Financials</h3>
Market Capitalization Analysis: Below industry benchmarks, the company's market capitalization reflects a smaller scale relative to peers. This could be attributed to factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Intl Game Tech's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 3.39% as of 31 December, 2023, showcasing a substantial increase in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Intl Game Tech's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of -0.71%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): The company's ROE is below industry benchmarks, signaling potential difficulties in efficiently using equity capital. With an ROE of -0.55%, the company may need to address challenges in generating satisfactory returns for shareholders.
Return on Assets (ROA): Intl Game Tech's ROA excels beyond industry benchmarks, reaching -0.08%. This signifies efficient management of assets and strong financial health.
Debt Management: Intl Game Tech's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 4.11.
<h2>The Basics of Analyst Ratings</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Intl Game Tech Stock: A Deep Dive Into Analyst Perspectives (6 Ratings)

B. Riley Securities analyst David Bain reinstates Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) with a Buy and announces $30 price target.

Initiation

B. Riley Securities Reinstates Buy on Intl Game Tech, Announces $30 Price Target

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FLUT

PENN

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NCAA President Charlie Baker Posted On X "It Is Time For Us To Draw The Line On Sports Betting To Protect Student-Athletes"

<ul>
<li>Marco Drago announces intention to step down from board of directors</li>
<li>Enrico Drago appointed to IGT Board of Directors, will leave his role as CEO of IGT PlayDigital</li>
<li>Gil Rotem to expand role as president of IGT PlayDigital</li>
</ul>
LONDON, March 21, 2024 /PRNewswire/ -- International Game Technology PLC ("IGT") (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) announced that on March 21, 2024, its Board of Directors implemented changes to the Company's Board and executive team. <a href="https://mma.prnewswire.com/media/453980/IGT_Logo.html">IGT</a>) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com." alt="IGT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) is a global leader in gaming. We deliver entertaining and responsible gaming experiences for players across all channels and regulated segments, from Lotteries and Gaming Machines to Sports Betting and Digital. Leveraging a wealth of compelling content, substantial investment in innovation, player insights, operational expertise, and leading-edge technology, our solutions deliver unrivaled gaming experiences that engage players and drive growth. We have a well-established local presence and relationships with governments and regulators in more than 100 jurisdictions around the world, and create value by adhering to the highest standards of service, integrity, and responsibility. IGT has approximately 11,000 employees. For more information, please visit www.igt.com."&gt;
Marco Drago announced today that he will step down from his role as a non-executive director of the IGT Board of Directors. He will carry out his remaining term and depart from the Board at the conclusion of the Company's Annual General Meeting ("AGM") on May 14, 2024.
Enrico Drago has been appointed by the IGT Board of Directors as a non-executive director of the IGT Board. In addition, Enrico Drago will resign from his current role of CEO of IGT PlayDigital, and Gil Rotem, who is currently IGT PlayDigital President of iGaming, will expand his role to become IGT PlayDigital President and report directly to Vince Sadusky, CEO of IGT. These changes will be effective April 1, 2024. Enrico Drago will continue in his role as vice chairman of De Agostini S.p.A.
"As Marco Drago prepares to step down from his position on the IGT Board of Directors, I'd like to thank him for his many years of service and his unwavering commitment to driving results and creating value for all IGT stakeholders," said Marco Sala, IGT Executive Chair of the Board. "Enrico Drago joining the Board and leaving his executive leadership position at IGT is a natural evolution that supports the Company's vision for its next era of growth and transformation. Enrico's value-creation mindset and understanding of global growth opportunities will enhance the Board and align with IGT's strategic priorities."
"Watching and guiding IGT through its evolution from a collection of companies that started with Lottomatica and GTECH grow into a unified global gaming leader has been very gratifying. We have been fortunate to have a great group of board members and business unit leaders that have helped drive IGT's growth during this time. I thank them for their contributions and am certain that IGT is positioned for continued growth as we go forward with the bold initiatives we have undertaken," said Marco Drago, IGT Non-Executive Director.
"Over the last five-plus years, IGT PlayDigital has established leadership positions in the global iGaming and North American sports betting sectors that will be foundational to the Company's future successes. I thank the entire IGT PlayDigital team for all that we have accomplished in this time, and I look forward to supporting IGT in a new capacity and further helping the Company define its vision and strategy," said Enrico Drago, CEO of IGT PlayDigital.
Executive &amp; Director Biographies
Marco Drago: Mr. Drago has been a Non-executive Director of the IGT Board since the formation of the Company in April 2015. He is President of the Board of Directors of B&amp;D Holding S.P.A., a position held since 2018. Following service as Chairman from 1997 to 2022, Mr. Drago became Chairman Emeritus of De Agostini, S.p.A., the holding company of the De Agostini Group. He is also Deputy Chairman for Grupo Planeta-De Agostini SL, a position held since 2003, and is Chairman ad honorem of De Agostini Editore S.p.A., a position assumed following service as a board member from 1999 to 2020. Additionally, he serves as: (i) a board member of Atresmedia SA. (since 2003); (ii) sole director of Blu Acquario Prima S.p.A. and Investendo Tre S.r.l., (since 2012 and 2022, respectively). He&nbsp; previously served as a: (i) director and member of the Supervisory Board of San Faustin SA from 1996 to 2023; and (ii) director of Crescita Holding Srl from 2016 to 2021. Mr. Drago has more than 55 years of professional experience and graduated with Bachelor of Science in Economics and Business from Bocconi University in Milan, Italy. Mr. Drago is the father of Enrico Drago, CEO, PlayDigital.
Enrico Drago: Mr. Drago is Chief Executive Officer of the PlayDigital business, a role he has held since September 2021. He previously served as the Company's Senior Vice President of PlayDigital from 2018 until assuming his current role. Since June 2021, he has served as the Vice Chairman of De Agostini S.p.A. Mr. Drago has 25 total years of professional experience. He graduated from IESE Business School, University of Navarra, Barcelona, Spain with a Master in Business Administration and from Bocconi University, Milan, Italy with a Bachelor of Science, Business Administration.
Gil Rotem: Mr. Rotem joined IGT in 2021 as the President of iGaming for IGT PlayDigital. Since joining IGT, he has helped IGT PlayDigital take a leading position in the global iGaming market, complete the acquisition of iSoftBet and grow the Company's games portfolio and engagement tools offering. Mr. Rotem has more than two decades of experience in the iGaming sector. Prior to joining IGT, Mr. Rotem spent nearly 15 years at bet365, a UK-based gambling&nbsp;company. There, he was Group Director for Gaming Strategy, served on the company's board of directors and was responsible for strategic planning and operations.

Management

International Game Technology PLC Announces Executive And Board Leadership Changes; Enrico Drago Appointed To IGT Board Of Directors, Will Leave His Role As CEO Of IGT PlayDigital; Gil Rotem To Expand Role As President Of IGT PlayDigital

Online slot players in all US states with&nbsp;iGaming can now enjoy popular IGT PlayDigital&trade; games such as Fortune Coin&trade; and Cash Eruption&trade;
LONDON,&nbsp;March 14, 2024&nbsp;/PRNewswire/ --&nbsp;International Game Technology PLC (&quot;IGT&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) announced today that its IGT PlayDigital iGaming content library is now available in&nbsp;Rhode Island&nbsp;via the Bally&nbsp;Casino&nbsp;Rhode Island&nbsp;app and on BallyCasino.com. This milestone content deployment makes IGT PlayDigital one of only two suppliers to offer content in all seven U.S. online gaming jurisdictions.&nbsp;

IGT PlayDigital Content Now Live In All Seven U.S. iGaming States With Recent Games Deployment In Rhode Island

Argus Research analyst John Staszak maintains Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) with a Buy and lowers the price target from $30 to $27.

Argus Research Maintains Buy on Intl Game Tech, Lowers Price Target to $27

International Game Technology PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/igt#NYSE">IGT</a>) posted upbeat results for its <a href="https://www.benzinga.com/news/earnings/24/03/37621974/why-is-international-game-technology-stock-falling-today">fourth quarter on Tuesday</a>.
The company reported fourth-quarter fiscal 2023 revenue growth of 3% year-on-year to $1.13 billion (2% Y/Y constant currencies), beating the consensus of $1.11 billion. The gaming technology firm registered an adjusted EPS of 56 cents, beating the consensus of 41 cents, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
The company&rsquo;s board declared a quarterly cash dividend of $0.20 per share, payable on April 9, 2024, to record as of March 26, 2024.
Vince Sadusky, CEO of IGT, said, &ldquo;We believe the recent determination to split the business and create separate lottery and gaming pure play companies, each with experienced management teams and simplified business models, better positions each company to service customers and create significant value for stakeholders.&rdquo;
For fiscal 2024, IGT expects revenue of $4.30 billion &ndash; $4.40 billion versus a consensus of $4.403 billion with an operating margin of 20% &ndash; 21%. IGT expects first-quarter revenue of ~$1.0 billion against the consensus of $1.077 billion.
IGT shares fell 6.2% to close at $23.58 on Tuesday.
These analysts made changes to their price targets on International Game Technology following merger news
<ul>
<li>Truist Securities cut the price target on International Game Technology from $30 to $28. Truist Securities analyst Barry Jonas maintained a Hold rating.</li>
<li>Stifel slashed the price target on International Game Technology from $30 to $26. Stifel analyst Jeffrey Stantial reiterated a Hold rating.</li>
</ul>
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Ratings for Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) were provided by 5 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The table below provides a concise overview of recent ratings by analysts, offering insights into the changing sentiments over the past 30 days and drawing comparisons with the preceding months for a holistic perspective.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Insights from analysts' 12-month price targets are revealed, presenting an average target of $28.6, a high estimate of $30.00, and a low estimate of $26.00. This current average has decreased by 10.06% from the previous average price target of $31.80. 
<img src="https://www.benzinga.com/files/images/story/2024/1710334852_0.png" alt="price target chart" />
<h2>Interpreting Analyst Ratings: A Closer Look</h2>
The standing of Intl Game Tech among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Jeffrey Stantial</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$26.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$28.00</td>
<td>$30.00</td>
</tr>
<tr>
<td>Jeffrey Stantial</td>
<td>Stifel</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$31.00</td>
</tr>
<tr>
<td>Barry Jonas</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$30.00</td>
<td>$32.00</td>
</tr>
<tr>
<td>David Katz</td>
<td>Jefferies</td>
<td>Lowers</td>
<td>Hold</td>
<td>$29.00</td>
<td>$36.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Intl Game Tech. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Offering insights into predictions, analysts assign qualitative values, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Intl Game Tech compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Intl Game Tech's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Intl Game Tech's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/IGT/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Intl Game Tech analyst ratings.</a>
<h2>Discovering Intl Game Tech: A Closer Look</h2>
International Game Technology PLC is a gaming company that delivers entertaining and responsible gaming experiences for players across all channels. The company's operating segments include Global Lottery, Global Gaming, and Digital &amp; Betting.. It generates maximum revenue from the Global Lottery segment. Global Lottery segment provides lottery products and services to governmental organizations through operating contracts, facilities management contracts, lottery management agreements, and product sales contracts. Geographically, it derives a majority of revenue from the United States.
<h3>Breaking Down Intl Game Tech's Financial Performance</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Positive Revenue Trend: Examining Intl Game Tech's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 0.47% as of 30 September, 2023, showcasing a substantial increase in top-line earnings. When compared to others in the Consumer Discretionary sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Intl Game Tech's financial strength is reflected in its exceptional net margin, which exceeds industry averages. With a remarkable net margin of 8.83%, the company showcases strong profitability and effective cost management.
Return on Equity (ROE): Intl Game Tech's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 6.45% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Intl Game Tech's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.9%, the company showcases efficient use of assets and strong financial health.
Debt Management: Intl Game Tech's debt-to-equity ratio is notably higher than the industry average. With a ratio of 4.07, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Significance of Analyst Ratings Explained</h2>
Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For Intl Game Tech

Stifel analyst Jeffrey Stantial reiterates Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) with a Hold and lowers the price target from $30 to $26.

Reiteration

Stifel Reiterates Hold on Intl Game Tech, Lowers Price Target to $26

Truist Securities analyst Barry Jonas maintains Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) with a Hold and lowers the price target from $30 to $28.

Truist Securities Maintains Hold on Intl Game Tech, Lowers Price Target to $28

It was a mixed morning on Wall Street, with major U.S. indices recording gains, primarily due to a tech outperformance, although losses emerged on bonds, gold, and Bitcoin following a <a href="https://www.benzinga.com/markets/equities/24/03/37615483/inflation-rises-more-than-expected-to-3-2-rebuffs-expectations-of-june-fed-rate-cut">stronger-than-expected inflation report.</a>
The S&amp;P 500 index rose by 0.9%, while the tech-heavy Nasdaq 100 rallied 0.9%. Within the tech space, chipmakers shined, with the VanEck Semiconductor ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) up 2%.
The February Consumer Price Index (CPI) rose by 3.2% year-on-year, exceeding both the previous and expected 3.1% surge. Additionally, the core CPI index, which strips out volatile food and energy items, surprised to the upside at 3.8%, compared to the expected 3.7%.
Treasury yields moved higher, with the policy-sensitive two-year yield soaring by 6 basis points to 4.6% and the 10-year yield rising by 7 basis points to 4.17%.
Markets held firm on expectations for a June rate cut, envisioning a 70% chance, according to the CME Group FedWatch tool.
The Fed is set to hold its two-day policy meeting in a week, during which policymakers will unveil the new macroeconomic projections, revealing the preferred interest rate path.
<h3 class="wp-block-heading">Tuesday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices &amp; ETFs</td>
<td>Price</td>
<td>%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>18,139.35</td>
<td>1.0%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,162.83</td>
<td>0.9%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>38,936.96</td>
<td>0.4%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,056.13</td>
<td>-0.5%</td>
</tr>
</tbody>
</table>
</figure>
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.8% to $515.04, the SPDR Dow Jones Industrial Average (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>) inched 0.4% higher to $389.95 and the tech-heavy Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 1% to $441.69, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>. 
Sector-wise, the&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>), was the top performer, up by 1.4%, while the&nbsp;Utilities Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLU#NYSE">XLU</a>) trailed, down by 0.7%.
<h3 class="wp-block-heading">&nbsp;Tuesday&#8217;s Stock Movers </h3>
<ul>
<li>Oracle Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>) rallied over 12% after reporting better-than-expected quarterly results.</li>
<li>Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSMC#NYSE">TSMC</a>) rose over 3% after obtaining grants worth over $5 billion from the U.S. Department of Commerce for chip production. </li>
<li>Southwest Airlines Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) tumbled 15% after announcing a sharp decline in Boeing 737-8 plane deliveries, from the 79 previously expected to 46 for 2024.</li>
<li>Other stocks moving on earnings were Asana, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) (down about 11%), Vail Resorts, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) (up 1.5%), Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) (up 4.5%), International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) (down over 6%) and Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) (down over 5%). </li>
</ul>
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Wall Street illustration created using AI via MidJourney.

Stocks Soar On Tech Rally; Inflation Fuels Higher Yields, Bitcoin Drops Below $70,000: What's Driving Markets Tuesday?

International Game Technology PLC&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) reported fourth-quarter fiscal 2023 revenue growth of 3% year-on-year to $1.13 billion (2% Y/Y constant currencies), beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/pressreleases/24/03/n37611050/international-game-technology-plc-reports-fourth-quarter-and-full-year-2023-results" rel="noreferrer noopener">consensus of $1.11 billion</a>.&nbsp;
The gaming technology firm registered an adjusted EPS of $0.56, beating the&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $0.41</a>.
Revenue from Global Lottery climbed by 7% Y/Y to $681 million, Global Gaming was flat at $390 million, and PlayDigital was down 10% to $59 million.
Adjusted EBITDA rose 9% Y/Y to $454 million on higher operating income and depreciation and amortization, with a margin improvement of 190 basis points Y/Y to 40.2%.&nbsp;
Operating income grew 11% Y/Y to $256 million, led by double-digit growth in Global Lottery and Global Gaming, with margin expansion of 160 basis points to 22.7% for the quarter.
As of December 31, 2023, total liquidity is $1.8 billion, with $572 million in unrestricted cash and $1.2 billion in additional borrowing capacity from undrawn credit facilities.
Dividend:&nbsp;The board declared a quarterly cash dividend of $0.20 per share, payable on April 9, 2024, to record as of March 26, 2024.
Vince Sadusky, CEO of IGT, said, &#8220;We believe the <a href="https://www.benzinga.com//node/37387339">recent determination to split the business </a>and create separate lottery and gaming pure play companies, each with experienced management teams and simplified business models, better positions each company to service customers and create significant value for stakeholders.&#8221;
Outlook:&nbsp;IGT expects fiscal 2024 revenue of $4.30 billion &#8211; $4.40 billion versus a&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">consensus of $4.403 billion</a>&nbsp;with an operating margin of 20% &#8211; 21%.
IGT expects first-quarter revenue of ~$1.0 billion against the consensus of $1.077 billion.
Price Action:&nbsp;IGT shares are trading lower by 4.59% at $24.00 on the last check Tuesday.

Wall Street displayed cautious optimism on Tuesday as traders awaited the crucial February consumer price inflation report. Lower-than-expected inflation could fuel hopes of the Fed implementing rate cuts this year, driving the current market rally. Conversely, a higher-than-expected figure could trigger a sell-off.&nbsp;Oracle Corp.&#8217;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/03/37599253/oracle-q3-earnings-revenue-miss-eps-beat-cloud-infrastructure-business-in-hypergrowth-strong-ai-dem" rel="noreferrer noopener">positive earnings reaction</a>&nbsp;could boost the tech sector.
Cues From Previous Session:
Monday&#8217;s session reflected nervousness about the upcoming inflation report and its impact on monetary policy. Major indices entered the session after experiencing losses for the week ending March 8th. Opening lower and falling further initially, the indices pared their losses throughout the day but closed mixed. The tech-heavy Nasdaq and broader S&amp;P 500 closed lower, while the Dow Industrials managed a slight gain. Small-cap stocks underperformed larger counterparts, surrendering some recent gains.
Fund manager&nbsp;Louis Navellier&nbsp;said the market caution was due in part to the CPI and PPI data coming, &#8220;which may confirm that marching from 3% inflation to the Fed&#8217;s 2% target is likely to be challenging.&#8221;
Real estate, industrials, IT, consumer discretionary, communication services, and healthcare sectors closed in the red. Energy, materials, utilities, financials, and consumer staples gained ground.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-0.41%</td>
<td>16,019.27</td>
</tr>
<tr>
<td>S&amp;P 500 Index</td>
<td>-0.11%</td>
<td>5,117.94</td>
</tr>
<tr>
<td>Dow Industrials</td>
<td>+0.12%</td>
<td>38,769.66</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.81%</td>
<td>2,065.88</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption"> Analyst Color:</figcaption></figure>
The fast start to the year bodes well for the remainder of the year, said Comerica Chief Investment Office John Lynch. He noted that the equity market&#8217;s strength this year has been accompanied by expanding valuations. 
The higher market multiples, according to Lynch, are attributable to more favorable liquidity conditions and an easing in inflation-adjusted interest rates.  
&#8220;A strong start to the year usually bodes well for equity markets,&#8221; the analyst said. &#8220;A review of fast starts in both January and February since 1970 showed the S&amp;P 500 Index tends to maintain strength over the remainder of that calendar year, as well as over the ensuing twelve months.&#8221;
That said, the analyst cautioned of volatility ahead. &#8220;While we would love to see gains of this magnitude going forward, it is important to assess recent gains within the context of market volatility during Presidential election years, which typically show weakness following primary season and heading into party conventions.&#8221;
Futures Today Futures Performance On Tuesday ( as of 6:30 a.m. EDT)
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>+0.48%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>+0.30%</td>
</tr>
<tr>
<td>Dow</td>
<td>-0.01%</td>
</tr>
<tr>
<td>R2K</td>
<td>+0.24%</td>
</tr>
</tbody>
</table>
</figure>
In <a href="https://www.benzinga.com/premarket/" target="_blank" rel="noreferrer noopener">premarket</a> trading on Tuesday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) added 0.27% to $512.65 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) climbed 0,46% to $439.39, according to <a href="https://benzinga.grsm.io/lxquj26b2sag" target="_blank" rel="noreferrer noopener">Benzinga Pro data</a>.
Upcoming Economic Data:
The Bureau of Labor Statistics is due to release the consumer price inflation report for February at 9:30 a.m. EDT. The February consumer price index may have increased 0.4% month-over-month, down from 0.3% in January, and 3.1% year-over-year, unchanged from the previous month.
The monthly and annual rates of core consumer price inflation are expected at 0.3% and 3.7%, respectively. In January, the rates were at 0.4% and 3.9%, respectively.
The Treasury will auction 10-year notes at 1 p.m. ET.
See Also: <a href="https://www.benzinga.com/money/how-to-trade-futures">How To Trade Futures</a>
Stocks In Focus:
<ul>
<li>Oracle rallied over 13% <a href="https://www.benzinga.com/premarket">in premarket trading</a> following its quarterly earnings announcement.</li>
<li>Other stocks moving on earnings were Asana, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ASAN#NYSE">ASAN</a>) (down about 3%)&nbsp;and&nbsp;Vail Resorts, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTN#NYSE">MTN</a>) (down over 5.50%).</li>
<li>Archer-Daniels-Midland Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>), International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) and Kohl&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) are among the companies due to release their <a href="https://www.benzinga.com/calendars/earnings">quarterly results before the market opens.</a></li>
</ul>
Commodities, Bonds, Other Global Equity Markets:
Crude oil futures advanced slightly, while the 10-year Treasury yield dipped. Gold prices retreated from record highs, and Bitcoin surged towards $72,000. Asian markets closed mostly higher, with the Hong Kong market leading the gains. European sentiment was cautiously positive ahead of the U.S. inflation data.

Futures

Previews

Pre-Market Outlook

$BTC

Nasdaq, S&P 500 Futures Climb Cautiously As Wall Street Holds Breath For Key Inflation Data

Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) reported quarterly earnings of $0.56 per share which beat the analyst consensus estimate of $0.41 by 36.59 percent. This is a 40 percent increase over earnings of $0.40 per share from the same period last year. The company reported quarterly sales of $1.13 billion which beat the analyst consensus estimate of $1.11 billion by 1.80 percent. This is a 3.39 percent increase over sales of $1.09 billion the same period last year.

Intl Game Tech Q4 Adj EPS $0.56 Beats $0.41 Estimate, Sales $1.13B Beat $1.11B Estimate

<h3>Companies Reporting Before The Bell</h3>
&bull; Aurora Mobile (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JG#NASDAQ">JG</a>) is likely to report earnings for its fourth quarter.
&bull; MINISO Group Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNSO#NYSE">MNSO</a>) is likely to report quarterly earnings at $0.27 per share on revenue of $530.30 million.
&bull; BioXcel Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTAI#NASDAQ">BTAI</a>) is likely to report quarterly loss at $0.91 per share on revenue of $710 thousand.
&bull; Enfusion (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ENFN#NYSE">ENFN</a>) is likely to report quarterly earnings at $0.05 per share on revenue of $45.27 million.
&bull; Tupperware Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TUP#NYSE">TUP</a>) is estimated to report earnings for its second quarter.
&bull; Kanzhun (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BZ#NASDAQ">BZ</a>) is expected to report quarterly earnings at $0.16 per share on revenue of $214.08 million.
&bull; Manchester United (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MANU#NYSE">MANU</a>) is projected to report quarterly loss at $0.22 per share on revenue of $222.43 million.
&bull; FiscalNote Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOTE#NYSE">NOTE</a>) is estimated to report quarterly loss at $0.15 per share on revenue of $34.53 million.
&bull; Archer-Daniels Midland (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ADM#NYSE">ADM</a>) is projected to report quarterly earnings at $1.43 per share on revenue of $23.64 billion.
&bull; On Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $510.19 million.
&bull; Chicago Atlantic Real (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REFI#NASDAQ">REFI</a>) is projected to report quarterly earnings at $0.51 per share on revenue of $16.09 million.
&bull; Cormedix (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRMD#NASDAQ">CRMD</a>) is estimated to report quarterly loss at $0.20 per share on revenue of $-250 thousand.
&bull; Kohl&#39;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KSS#NYSE">KSS</a>) is estimated to report quarterly earnings at $1.28 per share on revenue of $5.70 billion.
&bull; PowerFleet (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PWFL#NASDAQ">PWFL</a>) is likely to report quarterly loss at $0.10 per share on revenue of $34.34 million.
&bull; Lifetime Brands (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LCUT#NASDAQ">LCUT</a>) is expected to report quarterly earnings at $0.33 per share on revenue of $197.93 million.
&bull; IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) is expected to report quarterly earnings at $0.04 per share on revenue of $476.18 million.
&bull; Bioventus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BVS#NASDAQ">BVS</a>) is expected to report quarterly earnings at $0.02 per share on revenue of $123.96 million.
&bull; Workhorse Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WKHS#NASDAQ">WKHS</a>) is projected to report quarterly loss at $0.09 per share on revenue of $3.24 million.
&bull; Priority Tech Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRTH#NASDAQ">PRTH</a>) is expected to report quarterly loss at $0.10 per share on revenue of $201.84 million.
&bull; Silence Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLN#NASDAQ">SLN</a>) is estimated to report earnings for its fourth quarter.
&bull; Hagerty (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HGTY#NYSE">HGTY</a>) is estimated to report quarterly loss at $0.02 per share on revenue of $245.27 million.
&bull; ATRenew (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RERE#NYSE">RERE</a>) is projected to report earnings for its fourth quarter.
&bull; Core Molding Technologies (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/CMT#AMEX">CMT</a>) is estimated to report quarterly earnings at $0.06 per share on revenue of $70.75 million.
&bull; Intl Game Tech (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) is projected to report quarterly earnings at $0.41 per share on revenue of $1.11 billion.
&bull; Blade Air Mobility (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BLDE#NASDAQ">BLDE</a>) is projected to report quarterly loss at $0.13 per share on revenue of $48.40 million.
<h3>Companies Reporting After The Bell</h3>
&bull; ClearPoint Neuro (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLPT#NASDAQ">CLPT</a>) is projected to report quarterly loss at $0.20 per share on revenue of $6.53 million.
&bull; Guild Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GHLD#NYSE">GHLD</a>) is expected to report quarterly earnings at $0.14 per share on revenue of $172.68 million.
&bull; MaxCyte (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MXCT#NASDAQ">MXCT</a>) is likely to report quarterly loss at $0.07 per share on revenue of $13.09 million.
&bull; Natures Sunshine Products (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NATR#NASDAQ">NATR</a>) is estimated to report quarterly earnings at $0.15 per share on revenue of $111.13 million.
&bull; Performant Finl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFMT#NASDAQ">PFMT</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $31.59 million.
&bull; Qifu Technology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QFIN#NASDAQ">QFIN</a>) is expected to report quarterly earnings at $0.98 per share on revenue of $592.58 million.
&bull; Arq (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARQ#NASDAQ">ARQ</a>) is likely to report quarterly loss at $0.08 per share on revenue of $27.00 million.
&bull; Rackspace Tech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RXT#NASDAQ">RXT</a>) is projected to report quarterly loss at $0.04 per share on revenue of $714.72 million.
&bull; Biote (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BTMD#NASDAQ">BTMD</a>) is likely to report quarterly earnings at $0.08 per share on revenue of $45.74 million.
&bull; Intl General Insurance (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IGIC#NASDAQ">IGIC</a>) is likely to report earnings for its fourth quarter.
&bull; Champions Oncology (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CSBR#NASDAQ">CSBR</a>) is projected to report quarterly loss at $0.15 per share on revenue of $13.48 million.
&bull; Aligos Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGS#NASDAQ">ALGS</a>) is projected to report quarterly loss at $0.27 per share on revenue of $1.60 million.
&bull; Surgepays (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SURG#NASDAQ">SURG</a>) is estimated to report quarterly earnings at $0.41 per share on revenue of $33.52 million.
&bull; Maiden Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MHLD#NASDAQ">MHLD</a>) is likely to report earnings for its fourth quarter.
&bull; SIGA Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SIGA#NASDAQ">SIGA</a>) is likely to report earnings for its fourth quarter.
&bull; Phunware (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHUN#NASDAQ">PHUN</a>) is projected to report quarterly loss at $2.00 per share on revenue of $2.10 million.
&bull; Doma Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOMA#NYSE">DOMA</a>) is likely to report quarterly loss at $1.30 per share on revenue of $69.42 million.
&bull; Beauty Health (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SKIN#NASDAQ">SKIN</a>) is projected to report quarterly loss at $0.07 per share on revenue of $87.63 million.
&bull; Laird Superfood (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/LSF#AMEX">LSF</a>) is estimated to report quarterly loss at $0.23 per share on revenue of $8.74 million.
&bull; Aterian (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATER#NASDAQ">ATER</a>) is projected to report quarterly loss at $0.13 per share on revenue of $29.34 million.
&bull; Clearside Biomedical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLSD#NASDAQ">CLSD</a>) is estimated to report quarterly loss at $0.09 per share on revenue of $4.43 million.
&bull; Heron Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HRTX#NASDAQ">HRTX</a>) is expected to report quarterly loss at $0.16 per share on revenue of $30.97 million.
&bull; AdTheorent Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADTH#NASDAQ">ADTH</a>) is likely to report quarterly earnings at $0.07 per share on revenue of $56.20 million.
&bull; Identiv (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVE#NASDAQ">INVE</a>) is likely to report quarterly loss at $0.03 per share on revenue of $30.00 million.
&bull; Oportun Financial (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPRT#NASDAQ">OPRT</a>) is estimated to report quarterly loss at $0.37 per share on revenue of $262.30 million.
&bull; icad (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICAD#NASDAQ">ICAD</a>) is likely to report quarterly loss at $0.05 per share on revenue of $4.30 million.
&bull; Purple Innovation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRPL#NASDAQ">PRPL</a>) is expected to report quarterly loss at $0.18 per share on revenue of $145.56 million.
&bull; Quest Resource Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QRHC#NASDAQ">QRHC</a>) is projected to report quarterly loss at $0.03 per share on revenue of $73.07 million.
&bull; Tenon Medical (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNON#NASDAQ">TNON</a>) is likely to report quarterly loss at $1.38 per share on revenue of $1.06 million.
&bull; Transact Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TACT#NASDAQ">TACT</a>) is projected to report quarterly loss at $0.03 per share on revenue of $13.60 million.
&bull; loanDepot (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LDI#NYSE">LDI</a>) is estimated to report quarterly loss at $0.07 per share on revenue of $236.76 million.
&bull; CryoPort (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CYRX#NASDAQ">CYRX</a>) is estimated to report quarterly loss at $0.29 per share on revenue of $58.40 million.
&bull; Synchronoss Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNCR#NASDAQ">SNCR</a>) is likely to report quarterly loss at $0.10 per share on revenue of $42.84 million.
&bull; Clover Health Investments (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLOV#NASDAQ">CLOV</a>) is estimated to report quarterly loss at $0.14 per share on revenue of $480.25 million.
&bull; Westrock Coffee (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WEST#NASDAQ">WEST</a>) is estimated to report quarterly earnings at $0.00 per share on revenue of $226.02 million.
&bull; Eastern Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EML#NASDAQ">EML</a>) is likely to report earnings for its fourth quarter.
&bull; BRT Apartments (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRT#NYSE">BRT</a>) is estimated to report earnings for its fourth quarter.
&bull; Latham Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWIM#NASDAQ">SWIM</a>) is expected to report quarterly loss at $0.06 per share on revenue of $87.21 million.
&bull; Aware (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AWRE#NASDAQ">AWRE</a>) is estimated to report earnings for its fourth quarter.
&bull; Energy Vault Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NRGV#NYSE">NRGV</a>) is likely to report quarterly loss at $0.11 per share on revenue of $151.50 million.
&bull; Allbirds (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIRD#NASDAQ">BIRD</a>) is projected to report quarterly loss at $0.23 per share on revenue of $69.06 million.
&bull; Flotek Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FTK#NYSE">FTK</a>) is projected to report quarterly earnings at $0.09 per share on revenue of $47.25 million.
&bull; PHX Minerals (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PHX#NYSE">PHX</a>) is estimated to report quarterly earnings at $0.04 per share on revenue of $9.37 million.
&bull; Veritone (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VERI#NASDAQ">VERI</a>) is likely to report quarterly loss at $0.15 per share on revenue of $33.79 million.
This article was generated by Benzinga&#39;s automated content engine and reviewed by an editor.

ADTH

ALGS

ATER

AWRE

BIRD

BLDE

BTAI

BTMD

CLOV

CLPT

CLSD

CRMD

CSBR

CYRX

DOMA

ENFN

GHLD

HGTY

HRTX

ICAD

IGIC

INVE

LCUT

MANU

MHLD

MNSO

MXCT

NATR

NOTE

NRGV

ONON

OPRT

PFMT

PHUN

PRPL

PRTH

PWFL

QFIN

QRHC

REFI

RERE

SIGA

SKIN

SNCR

SURG

SWIM

TACT

TNON

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WEST

WKHS

Earnings Scheduled For March 12, 2024

The CNN Money Fear and Greed index remained in the &quot;Greed&quot; zone on Monday.
U.S. stocks closed mixed on Monday, with the S&amp;P 500 settling lower for the second straight session. All three major indices closed recorded losses last week, with the S&amp;P 500 falling 0.26% and the blue-chip Dow declining 0.93%.
Data on the consumer price index for February will be released on Tuesday. Analysts expect the CPI to increase 3.1% on an annualized basis.
EQT Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/eqt#NYSE">EQT</a>) announced that it entered into a definitive merger agreement to acquire Equitrans Midstream Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/etrn#NYSE">ETRN</a>). Shares of Genie Energy Ltd. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gne#NYSE">GNE</a>) fell more than 9% on Monday following fourth-quarter results.
Most sectors on the S&amp;P 500 closed on a negative note, with industrials, consumer discretionary, and real estate stocks recording the biggest losses on Monday. However, materials and energy stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed higher by around 47 points to 38,769.66 on Monday. The S&amp;P 500 fell 0.11% at 5,117.94, while the Nasdaq Composite fell 0.41% at 16,019.27 during Monday&rsquo;s session.
Investors are awaiting earnings results from International Game Technology PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/igt#NYSE">IGT</a>), IHS Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>), and Kohl&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>) today.
At a current reading of 66.6, the index remained in the &quot;Greed&quot; zone on Monday, versus a prior reading of 66.6.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
&nbsp;
Read Next: <a href="https://www.benzinga.com/news/24/03/37584146/top-5-risk-off-stocks-that-may-plunge-this-quarter"> Top 5 Risk Off Stocks That May Plunge This Quarter </a>

Penny Stocks

Small Cap

ETRN

Fear & Greed Index Remains In 'Greed' Zone Ahead Of Inflation Data; S&P 500 Falls For 2nd Session

With U.S. stock futures trading higher this morning on Tuesday, some of the stocks that may grab investor focus today are as follows:
Wall Street expects Kohl&#39;s Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/kss#NYSE">KSS</a>) to report quarterly earnings at $1.28 per share on revenue of $5.70 billion before the opening bell, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>. Kohl&#39;s shares gained 0.2% to $27.25 in after-hours trading.
Oracle Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/orcl#NYSE">ORCL</a>) reported upbeat earnings for its fiscal third quarter, while sales missed estimates. Oracle shares climbed 14.3% to $130.50 in the after-hours trading session.
Analysts are expecting Archer-Daniels-Midland Company (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/adm#NYSE">ADM</a>) to have earned $1.43 per share on revenue of $23.64 billion for the latest quarter. The company will release earnings before the markets open. Archer-Daniels-Midland shares rose 0.6% to $55.25 in after-hours trading.
Check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
Calavo Growers, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cvgw#NASDAQ">CVGW</a>) posted an adjusted loss for its first quarter, while sales missed views. Calavo Growers shares gained 1% to $28.98 in the after-hours trading session.
Analysts expect International Game Technology PLC (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/igt#NYSE">IGT</a>) to report quarterly earnings at 41 cents per share on revenue of $1.11 billion before the opening bell. International Game Technology shares fell 1.4% to $24.80 in after-hours trading.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/long-ideas/24/03/37581606/1-5m-bet-on-this-penny-stock-check-out-these-4-stocks-under-5-insiders-are-aggressively-"> $1.5M Bet On This Penny Stock? Check Out These 4 Stocks Under $5 Insiders Are Aggressively Buying </a>

CVGW

Kohl's, Oracle And 3 Stocks To Watch Heading Into Tuesday

International Game Technology announces executive and board leadership changes

International Game Technology (IGT) has released an update. International Game Technology PLC (IGT) has announced executive and board leadership ch...

IGT Undergoes Leadership Restructuring for Growth

International Game Technology: A Compelling Prospect Despite The Market's Disdain

Warning: IGT is at high risk of cutting its dividend

This week, several dividend stocks are trading close to their 52-week lows. Here is a list of ten such stocks that are also reaching their ex-divid...

Ex-Dividend Date Nearing for These 10 Stocks – Week of March 25, 2024

The increasing popularity of digital platforms and the relaxation of gambling laws are projected to boost the entertainment industry's prospects. While entertainment stocks DraftKings (DKNG) and International Game Technology (IGT) are well-placed to benefit from the industry tailwinds, let's find out which stock is a better buy now. Read on...  In this article, I have evaluated entertainment stocks, DraftKings Inc. (<a href="https://stocknews.com/stock/DKNG/">DKNG</a>) and International Game Technology PLC (<a href="https://stocknews.com/stock/IGT/">IGT</a>), to predict which entertainment stock is a better pick during March madness. After thoroughly evaluating these stocks, I think IGT might be a superior choice for the reasons discussed in this article.
Significant technological advancements have revolutionized how entertainment content is created, distributed, and consumed. Digital platforms, streaming services, augmented reality and virtual reality (AR&amp;VR), and high-speed internet access have expanded the reach and convenience of entertainment, attracting a larger audience around the globe.
According to the Custom Market Insights report, the global entertainment industry is expected to grow at a <a href="https://www.custommarketinsights.com/report/entertainment-industry-market/">CAGR of 11%</a> by  2032.
Furthermore, the gambling industry's expansion is driven by the increasing popularity and proliferation of online platforms. The continued <a href="https://www.cbssports.com/general/news/u-s-sports-betting-here-is-where-all-50-states-currently-stand-on-legalizing-online-sports-betting-sites/">legalization of gambling</a> and the allure of big payouts further shape the market's growth trends. The global casino gambling market is expected to expand from $150.29 billion in 2024 to $191.36 billion by 2029 at a <a href="https://www.mordorintelligence.com/industry-reports/casino-gambling-market">CAGR of 5%</a>.
According to data compiled by the American Gaming Association (AGA), annual gaming revenue in the U.S. has reached a new high for the third consecutive year. Total revenue from land-based casino games, sports betting, and iGaming <a href="https://www.americangaming.org/resources/aga-commercial-gaming-revenue-tracker/">totaled $66.52 billion for 2023</a>, a 10% increase from the prior record set in 2022.
Moreover, the fourth quarter of 2023 witnessed a 9.5 percent year-over-year growth as commercial gaming revenue reached $17.42 billion while generating $6.22 billion in revenue in December, a 13.3% increase year-over-year and a new single-month high. This year, the U.S. gaming sector will likely hit new records, driven by continued expansion of online gaming.
The entertainment industry's bright prospects should benefit DNKG and IGT significantly.
DKNG surged 20.6% over the past month compared to IGT's 16.5% decline. In addition, DKNG gained 36.9% over the past three months, while IGT plunged 22.9%.
However, here are the reasons why I think IGT might perform better in the near term:
Recent Developments
On March 7, 2024, DKNG announced plans to launch its top-rated online sportsbook in North Carolina. This announcement marks the culmination of DraftKings' continued work with stakeholders and regulatory bodies across North Carolina to provide fans with a responsible sports betting option.
With this launch, DraftKings Sportsbook will be available in 27 U.S. states and Ontario, Canada.
On March 14, 2024, IGT announced that its IGT PlayDigital iGaming content library was available in Rhode Island via the Bally Casino Rhode Island app and on BallyCasino.com. This milestone content deployment makes IGT PlayDigital one of only two suppliers to offer content in all seven U.S. online gaming jurisdictions.
Recent Financial Results
During the fiscal year that ended December 2023, DKNG's revenue increased 63.6% year-over-year to $3.67 billion. However, the company's loss from operations came in at $789.23 million. Also, it reported a net loss attributable to common shareholders of $802.14 million, or $1.73 per share, respectively.
IGT's total revenue for the fourth quarter ended December 31, 2023, increased 3% year-over-year to $1.13 billion. Its operating income rose 11.3% from the year-ago value to $256 million. Also, the company's net income came in at $27 million, compared to a net loss of $31 million in the previous-year quarter.
Past And Expected Financial Performance
Over the past three years, DKNG's revenue has grown at a CAGR of 81.4%. In addition, the company's total assets have increased at a CAGR of 4.7% over the same timeframe.
Street expects DKNG's revenue to increase 31.2% for the fiscal year ending December 2024. However, the company is expected to report a loss per share of $0.29 for the first quarter (ending March 2024) and $0.20 for the fiscal year 2024.
IGT's revenue has increased at an 11.4% CAGR over the past three years. Also, its EBITDA and levered free cash flow have grown at CAGRs of 25.8% and 103.8% over the same period, respectively.
Analysts expect IGT's revenue to grow 1.1% year-over-year in the fiscal year ending December 2024. For the fiscal year ending December 2025, the company's revenue and EPS are expected to increase by 3.5% and 26% from the prior year to $4.51 billion and $2.33, respectively.
Valuation
In terms of forward EV/Sales, IGT is currently trading at 2.33x, 51.8% lower than DKNG, which is trading at 4.83x. IGT's forward EV/EBITDA multiple of 6 is lower than DKNG's 48.09. Likewise, IGT's forward <a href="https://www.investopedia.com/terms/e/enterprisevaluesales.asp">EV/Sales</a> of 2.33x is lower than DKNG's 4.83x.
Thus, IGT is relatively more affordable.
Profitability
IGT's trailing-12-month revenue is 1.2 times what DKNG generates. Moreover, IGT is more profitable, with a trailing-12-month gross profit margin of 48.89% compared to DKNG's 37.46%. Also, IGT's trailing-12-month EBIT margin and net income margin of 24.11% and 3.62% are higher than DKNG's negative 21.45% and negative 21.88%, respectively.
In addition, IGT's trailing-12-month ROE, ROA, and ROTC of 15.62%, 2.69%, and 8.15% compared to the respective industry averages of negative 74.17%, 20.75%, and 20.33%.
POWR Ratings
DKNG has an overall rating of D, which equates to a Sell in our proprietary <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> system. Conversely, IGT has an overall rating of B, translating to a Buy. The POWR Ratings are calculated considering 118 different factors, with each factor weighted to an optimal degree.
Our proprietary rating system also evaluates each stock based on eight distinct categories.  DKNG has a D grade for Value. The stock's forward EV/EBITDA of 46.76x is 388.2% higher than the industry average of 9.58x. Its forward Price/Cash Flow multiple of 48.74 is 371.2% higher than the industry average of 10.35x.
On the other hand, IGT has a B grade for Value. IGT's forward EV/EBITDA of 6.02x is 37.1% lower than the industry average of 9.58x. Also, its forward Price/Cash Flow multiple of 4.67 is 54.8% lower than the industry average of 10.35.
Among the 28 stocks in the <a href="https://stocknews.com/category/entertainment-casinos-gambling/">Entertainment - Casinos/Gambling</a> industry, DKNG is ranked #25, while IGT is ranked #2. 
Beyond what we've stated above, we have also rated both stocks for Quality, Growth, Stability, Momentum, and Sentiment. Get all DKNG ratings <a href="https://stocknews.com/stock/DKNG/">here</a>. <a href="https://stocknews.com/stock/IGT/">Click here</a> to view IGT ratings.
The Winner
The entertainment industry is expanding significantly due to rapid technological innovation, the increasing popularity and proliferation of online platforms, and the continued relaxation of gambling laws. Industry players DKNG and IGT are well-positioned to benefit from the industry's rosy prospects.
However, DKNG's poor financials, decelerating profitability, and elevated valuation make its competitor IGT the better buy.
Our research shows that the odds of success increase when one invests in stocks with an Overall Rating of Strong Buy or Buy. View all the top-rated stocks in the Entertainment - Casinos/Gambling industry <a href="https://stocknews.com/category/entertainment-casinos-gambling/">here</a>.  
What To Do Next?
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IGT shares were unchanged in premarket trading Wednesday. Year-to-date, IGT has declined -21.38%, versus a 9.49% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Nidhi Agarwal</h2> <img src='https:/wp-content/uploads/2023/03/Nidhi-Agarwal_Headshot-3.jpg' style="float:left; padding:5px;width:125px;">Nidhi is passionate about the capital market and wealth management, which led her to pursue a career as an investment analyst. She holds a bachelor's degree in finance and marketing and is pursuing the CFA program.

Her fundamental approach to analyzing stocks helps investors identify the best investment opportunities.<a href="https://stocknews.com/authors/?author=nidhi-agarwal">More...</a>The post <a href=https://stocknews.com/news/igt-dkng-is-draftkings-dkng-a-better-pick-than-international-game-technology/>Is DraftKings (DKNG) a Better Pick Than International Game Technology (IGT) During March Madness?</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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