International Game Technology Shares Popped: What You Need to Know

Don't let it get away!

Keep track of the stocks that matter to you.

Help yourself with the Fool's FREE and easy new watchlist service today.

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of casino-game king International Game Technology (NYSE: IGT  ) were showing "jackpot" today, rising as much as 13% in intraday trading after the company reported fiscal second-quarter earnings.

So what: Total revenue for IGT's second quarter was $492 million, up 1% from last year and roughly in line with Wall Street's expectations. Income from continuing operations was $0.23 on a per-share basis, up 21% from last year's adjusted number and a penny ahead of analyst estimates. Product sales picked up versus last year, but gaming operations fell slightly. With a sluggish top line, it was cost containment that drove IGT's profit gains as the costs for both product sales and gaming operations fell.

Now what: Maybe even more important was IGT's look ahead. For its full 2011 fiscal year, the company raised its earnings per share guidance from a range of $0.79 to $0.87 to a range of $0.84 to $0.90. The midpoint of the new range matches analysts' expectations. There seems to be a pretty strong business case for IGT as Las Vegas starts to show a few signs of life and international gaming markets continue to grow. Many members of The Motley Fool's CAPS community are bullish on the stock, but concerns over the valuation have left it with a rating of three stars (out of five).

Want to keep up to date on IGT? Add it to your watchlist.

The Fool owns shares of International Game Technology. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Fool contributor Matt Koppenheffer does not have a financial interest in any of the companies mentioned. You can check out what Matt is keeping an eye on by visiting his CAPS portfolio, or you can follow Matt on Twitter @KoppTheFool or on his RSS feed. The Fool's disclosure policy prefers dividends over a sharp stick in the eye.

Read/Post Comments (0) | Recommend This Article (2)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1480951, ~/Articles/ArticleHandler.aspx, 10/23/2016 7:54:03 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 1 day ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/21/2016 4:02 PM
IGT $28.43 Up +0.05 +0.18%
International Game… CAPS Rating: ***