International Game Technology Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component International Game Technology (NYSE:IGT) will unveil its latest earnings on Tuesday, July 26, 2011. International Game Technology is a global gaming company that designs, manufactures and markets electronic gaming equipment and systems products.

International Game Technology Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 22 cents per share, a rise of 4.8% from the company’s actual earnings for the same quarter a year ago. The average estimate is the same as three months ago. Between one and three months ago, the average estimate was unchanged and it has not changed during the last month. For the year, analysts are projecting net income of 89 cents per share, a rise of 4.7% from last year.

Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with profit of 23 cents per share against the mean estimate of 20 cents. In the prior quarter, the company reported net income of 21 cents.

Savvy Investing Tip: Our CHEAT SHEET investing framework recommends only stocks with two straight quarters of earnings growth. Learn More >>

Wall St. Revenue Expectations: On average, analysts predict $487.4 million in revenue this quarter, a decline of 0.5% from the year ago quarter. Analysts are forecasting total revenue of $1.95 billion for the year, a decline of 2% from last year’s revenue of $1.99 billion.

Analyst Ratings: Analysts are bullish on this stock with 13 analysts rating it as a buy, none rating it as a sell and eight rating it as a hold.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 0.4% to $492.3 million in second quarter. The figure fell 9.9% in the first quarter from the year earlier, dropped 3.9% in fourth quarter of the last fiscal year from the year-ago quarter and 6.2% in the third quarter of the last fiscal year.

Competitors to Watch: WMS Industries Inc. (NYSE:WMS), Shuffle Master, Inc. (NASDAQ:SHFL), Multimedia Games, Inc. (NASDAQ:MGAM), GameTech International (NASDAQ:GMTC), Scientific Games Corp. (NASDAQ:SGMS), Bally Technologies Inc. (NYSE:BYI) and Gaming Partners Intl. Corp. (NASDAQ:GPIC).

Stock Price Performance: During June 21, 2011 to July 20, 2011, the stock price had risen $1.21 (7.1%) from $16.98 to $18.19. The stock price saw one of its best stretches over the last year between February 2, 2011 and February 9, 2011 when shares rose for six-straight days, rising 3.5% (+60 cents) over that span. It saw one of its worst periods between February 9, 2011 and February 24, 2011 when shares fell for 11-straight days, falling 10.7% (-$1.90) over that span. Shares are up 63 cents (+3.6%) year to date.

(Source: Xignite Financials)

Get Actionable Investing Insights: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!

More from The Cheat Sheet