UBS Lowers Estimates on International Game Tech (IGT); In This Case, Unchanged Means Disappointment
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Price: $16.29 --0%
Rating Summary:
12 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
12 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
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UBS maintains a 'Buy' on International Game Tech (NYSE: IGT) price target of $18.00 (from $20.00).
Analyst, Robin M. Farley, said, "FY12 guidance unchanged at $0.98-$1.04, but now seems to include $0.01-$0.02 of accretion from June’s share repo announcement which was not in guidance. Guidance now also includes 2,000-3,000 unit sales to Canada and 200-300 in Illinois in FQ4, not previously in the FY’12 guidance range and adding roughly $0.03-0.04 to EPS. IGT shipped 12,600 units in its product sales in Q3’12 vs. 11,600 recognized for the quarter. We estimate the delta could have shifted $0.01-$0.02 into Q4. FY’12 guidance implies Q4 EPS range of ~$0.32 to $0.38."
FY12 EPS estimate cut from $1.08 to $0.95 and FY13 from $1.34 to $1.17.
For an analyst ratings summary and ratings history on International Game Tech click here. For more ratings news on International Game Tech click here.
Shares of International Game Tech closed at $14.69 yesterday.
Analyst, Robin M. Farley, said, "FY12 guidance unchanged at $0.98-$1.04, but now seems to include $0.01-$0.02 of accretion from June’s share repo announcement which was not in guidance. Guidance now also includes 2,000-3,000 unit sales to Canada and 200-300 in Illinois in FQ4, not previously in the FY’12 guidance range and adding roughly $0.03-0.04 to EPS. IGT shipped 12,600 units in its product sales in Q3’12 vs. 11,600 recognized for the quarter. We estimate the delta could have shifted $0.01-$0.02 into Q4. FY’12 guidance implies Q4 EPS range of ~$0.32 to $0.38."
FY12 EPS estimate cut from $1.08 to $0.95 and FY13 from $1.34 to $1.17.
For an analyst ratings summary and ratings history on International Game Tech click here. For more ratings news on International Game Tech click here.
Shares of International Game Tech closed at $14.69 yesterday.
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