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International Game Technology PLC (NYSE:IGT) shares have touched a 52-week low, dipping to $14.31, as the gaming company faces a challenging market environment. According to InvestingPro data, the stock currently trades at $14.03, with analysts setting price targets ranging from $19 to $30. This latest price level reflects a significant downturn from previous periods, with the stock experiencing a 1-year change of -33.51%. Despite the challenges, IGT maintains a healthy 5.22% dividend yield and strong free cash flow yield of 32%. The decline to the 52-week low underscores the hurdles that IGT and similar companies in the gaming and lottery industry are encountering, including regulatory pressures and a competitive landscape that continues to evolve rapidly. Investors are closely monitoring the company’s strategic initiatives and potential for recovery as IGT navigates through these industry headwinds. InvestingPro analysis reveals 12 additional investment tips and a comprehensive Pro Research Report, offering deeper insights into IGT’s valuation and growth prospects.
In other recent news, International Game Technology (IGT) has reported its fourth-quarter 2024 earnings, which exceeded analyst expectations for earnings per share (EPS) at $0.22, compared to the forecasted $0.19. However, the company fell short on revenue, reporting $651 million against an expected $660 million. Despite the mixed financial results, IGT announced the sale of its gaming and digital business for $4 billion, a strategic move expected to strengthen its focus on the core lottery business. The company also launched new iLottery and cloud-based solutions, signaling a push towards innovation and expansion in digital offerings.
In addition to these developments, IGT introduced its Wheel of Fortune Video Poker game in Las Vegas, marking a significant milestone in its gaming portfolio. The game debuted at the Downtown Grand Hotel & Casino (EPA:CASP) and has since expanded to multiple locations. Analyst reactions were mixed; while the earnings beat was positive, firms like Stifel noted concerns about the revenue miss. For 2025, IGT projects revenue between $2.55 billion and $2.65 billion, with adjusted EBITDA expected to range from $1.1 billion to $1.15 billion, as the company focuses on renewing key contracts and expanding its iLottery platform.
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