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International Game Technology PLC (IGT)IGT
- BUY Advisory
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Upturn Advisory Summary
11/20/2024: IGT (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type: Stock | Upturn Star Rating | Today’s Advisory: PASS |
Historic Profit: -18.35% | Upturn Advisory Performance  2 | Avg. Invested days: 34 |
| Profits based on simulation | Stock Returns Performance  1 | Last Close 11/20/2024 |
Type: Stock | Today’s Advisory: PASS |
Historic Profit: -18.35% | Avg. Invested days: 34 |
Upturn Star Rating | Stock Returns Performance 1 |
| Profits based on simulation Last Close 11/20/2024 | Upturn Advisory Performance 2 |
Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 4.02B USD |
Price to earnings Ratio 35.54 | 1Y Target Price 27.14 |
Dividends yield (FY) 4.02% | Basic EPS (TTM) 0.56 |
Volume (30-day avg) 1017500 | Beta 1.97 |
52 Weeks Range 18.53 - 27.99 | Updated Date 11/17/2024 |
Company Size Mid-Cap Stock | Market Capitalization 4.02B USD | Price to earnings Ratio 35.54 | 1Y Target Price 27.14 |
Dividends yield (FY) 4.02% | Basic EPS (TTM) 0.56 | Volume (30-day avg) 1017500 | Beta 1.97 |
52 Weeks Range 18.53 - 27.99 | Updated Date 11/17/2024 |
Earnings Date
Report Date 2024-11-12 | When BeforeMarket |
Estimate 0.28 | Actual 0.04 |
Report Date 2024-11-12 | When BeforeMarket | Estimate 0.28 | Actual 0.04 |
Profitability
Profit Margin 3.15% | Operating Margin (TTM) 25.09% |
Management Effectiveness
Return on Assets (TTM) 6.27% | Return on Equity (TTM) 10.88% |
Revenue by Products
Revenue by Products - Current and Previous Year
Revenue by Geography
Revenue by Geography - Current and Previous Year
Valuation
Trailing PE 35.54 | Forward PE 13.76 |
Enterprise Value 9092238482 | Price to Sales(TTM) 0.89 |
Enterprise Value to Revenue 2.1 | Enterprise Value to EBITDA 6.63 |
Shares Outstanding 201858000 | Shares Floating 114132020 |
Percent Insiders 43.46 | Percent Institutions 47.59 |
Trailing PE 35.54 | Forward PE 13.76 | Enterprise Value 9092238482 | Price to Sales(TTM) 0.89 |
Enterprise Value to Revenue 2.1 | Enterprise Value to EBITDA 6.63 | Shares Outstanding 201858000 | Shares Floating 114132020 |
Percent Insiders 43.46 | Percent Institutions 47.59 |
Analyst Ratings
Rating 4 | Target Price 36.73 | Buy - |
Strong Buy 4 | Hold 4 | Sell - |
Strong Sell - |
Rating 4 | Target Price 36.73 | Buy - | Strong Buy 4 |
Hold 4 | Sell - | Strong Sell - |
AI Summarization
International Game Technology PLC (IGT)
Company Profile:
History:
International Game Technology (IGT) was founded in 1975 as A-1 Supply. The company initially manufactured novelty coin-operated games. Throughout the 1980s and 90s, IGT expanded through several acquisitions and became a leading slot machine manufacturer. In 2015, IGT merged with GTECH, creating a global gaming and lottery technology provider.
Core Business Areas:
- Gaming: IGT designs, develops, and manufactures slot machines, table games, and interactive gaming systems for land-based casinos, online gaming platforms, and social gaming markets.
- Lottery: IGT provides technology and services for lottery operators worldwide, including systems for game design, ticket sales, and draw management.
- Digital & Betting: IGT offers digital gaming solutions, including online and mobile casino games, sports betting platforms, and player account management systems.
Leadership Team:
- CEO: Marco Sala
- CFO: Max Chiara
- COO: Renato Ascoli
Corporate Structure:
IGT operates in three segments: Global Gaming, Global Lottery, and Digital & Betting. Each segment has its own president responsible for its operations and performance.
Top Products and Market Share:
Top Products:
- Slot Machines: IGT is a leading slot machine manufacturer, offering a wide range of game themes and features. Popular titles include Wheel of Fortune, Cleopatra, and Megabucks.
- IGT Advantage System: A casino management system that provides operators with data and analytics to optimize their operations and player engagement.
- Powerball: IGT provides the technology and services for the Powerball lottery, one of the largest and most popular lottery games in the United States.
Market Share:
- Global Slot Machines: IGT holds the highest market share, estimated at around 14%.
- US Slot Machines: IGT also occupies the top spot in the US market, with a market share of approximately 27%.
- Global Lottery: IGT is a leading provider of lottery technology, with a market share of around 25%.
Product Performance and Market Reception:
IGT's products are generally well-received by players and operators. The company is known for its innovative products, engaging game themes, and reliable technology. However, competition in the gaming industry is intense, and IGT faces stiff competition from other major players.
Total Addressable Market:
The global gaming market is estimated to be worth USD 565.1 billion in 2023, and it is expected to grow at a CAGR of 11.5% from 2023 to 2030. The global lottery market is estimated to be worth USD 327.8 billion in 2023, with a projected CAGR of 8.1% from 2023 to 2030.
Financial Performance:
Recent Financial Performance:
- Revenue: USD 4.08 billion (2022)
- Net Income: USD 443.7 million (2022)
- Profit Margin: 10.9% (2022)
- Earnings per Share (EPS): USD 1.48 (2022)
- Year-over-Year growth: Revenue increased by 6.1% in 2022 compared to 2021.
- Cash Flow: IGT has a strong cash flow, with a free cash flow of USD 585.1 million in 2022.
- Balance Sheet: The company has a healthy balance sheet with a debt-to-equity ratio of 0.68.
Dividends and Shareholder Returns:
Dividend History: IGT has a history of paying dividends, with a current dividend yield of 2.7%.
Shareholder Returns: Over the past 5 years, IGT's total shareholder return has been 77.7%. Over the past 10 years, it has been 174.7%.
Growth Trajectory:
Historical Growth:
IGT's revenue has grown at a CAGR of 2.6% over the past 5 years.
Future Growth Projections:
Analysts project IGT's revenue to grow at a CAGR of 5.4% over the next 5 years. This growth is expected to be driven by the expansion of online gaming markets, the increasing adoption of lottery technology, and new product launches.
Recent Product Launches and Strategic Initiatives:
IGT has recently launched several new products, including the IGT Advantage Gen 7 casino management system and the Powerball Mega Millions Power Play game. The company is also pursuing strategic initiatives to expand its digital gaming business and enter new markets.
Market Dynamics:
Industry Trends:
The gaming industry is experiencing several trends, including the growth of online gaming, the increasing use of mobile devices, and the popularity of esports.
Demand-Supply Scenarios:
The demand for gaming and lottery products is expected to remain strong in the coming years. However, the supply of these products is also increasing, which could lead to increased competition and pressure on prices.
Technological Advancements:
Technological advancements are playing a major role in the gaming industry. For example, the development of virtual reality and augmented reality (VR/AR) is creating new opportunities for gaming companies.
IGT's Positioning:
IGT is well-positioned to benefit from the trends in the gaming industry. The company has a strong global presence, a diverse product portfolio, and a track record of innovation. IGT is also adapting to market changes by investing in new technologies and expanding its digital gaming business.
Competitors:
Key Competitors:
- Wynn Resorts (WYNN)
- Las Vegas Sands (LVS)
- MGM Resorts International (MGM)
- DraftKings (DKNG)
- Penn National Gaming (PENN)
- Scientific Games (SGMS)
- Aristocrat Leisure (ALL)
- Novomatic (NOVN)
Market Share Comparison:
IGT holds the highest market share in the global slot machine market (14%) and the US slot machine market (27%).
Competitive Advantages and Disadvantages:
Advantages:
- Leading market share in slot machines
- Strong global presence
- Diverse product portfolio
- Track record of innovation
Disadvantages:
- Intense competition
- Exposure to regulatory changes
- Dependence on third-party suppliers
Potential Challenges and Opportunities:
Key Challenges:
- Intense competition from other gaming companies
- Regulatory changes in the gaming industry
- Dependence on third-party suppliers
- Supply chain disruptions
Potential Opportunities:
- Growth of online gaming markets
- Increasing adoption of lottery technology
- Expansion into new markets
- New product launches and strategic partnerships
Recent Acquisitions (last 3 years):
Acquisition (Year) - Rationale - Strategic Fit
- iSoftBet (2023) - To strengthen IGT's online gaming portfolio and expand its reach in regulated markets. iSoftBet's content and technology enhance IGT's PlayDigital offerings, offering players greater variety and choice.
- iSoftBet's technology and games diversify IGT's online offering and align with its digital growth strategy.
AI-Based Fundamental Rating:
Rating: 8.5/10
Justification:
IGT has a strong financial position, a leading market share in the slot machine industry, and a diverse product portfolio. The company is also well-positioned to benefit from the growth of online gaming markets. However, IGT faces intense competition from other gaming companies and is exposed to regulatory changes. Overall, IGT is a well-positioned company with a strong future outlook.
Disclaimer: Please note that this information is intended for educational purposes only and should not be considered investment advice.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About International Game Technology PLC
| Exchange | NYSE | Headquaters | - |
| IPO Launch date | 1990-03-26 | President, CEO & Executive Director | Mr. Vincent L. Sadusky |
| Sector | Consumer Cyclical | Website | https://www.igt.com |
| Industry | Gambling | Full time employees | 10956 |
| Headquaters | - | ||
| President, CEO & Executive Director | Mr. Vincent L. Sadusky | ||
| Website | https://www.igt.com | ||
| Website | https://www.igt.com | ||
| Full time employees | 10956 |
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services. It also designs, develops, assembles, and provides cabinets, games, systems, and software for the gaming market, as well as offers gaming management systems for casino management, such as infrastructure and applications, customer relationship management, patron management, and server-based gaming. In addition, the company provides video lottery terminals (VLT), VLT central systems, and VLT games. Further, it offers digital products, such as slot games, blackjack, roulette, poker, bingo, and other casino card games; iGaming systems and digital platforms that offer remote game server solution; and sports betting technology and management services to licensed sports betting operators. It processes commercial transactions, such as prepaid cellular telephone recharges, bill payments, e-vouchers and retail-based programs, electronic tax payments, prepaid card recharges, and stamp duty and money transfer services. The company was formerly known as GTECH S.p.A. and changed its name to International Game Technology PLC in April 2015. The company was incorporated in 2014 and is headquartered in London, the United Kingdom. International Game Technology PLC is a subsidiary of De Agostini S.p.A.
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