AllAnalyst Report
logoArgusNovember 17, 2020

International Game Technology PLC: Maintaining HOLD following 3Q results

Symbols
IGT
Sector(s)
Consumer Cyclical
Rating
Premium
Current Price
$15.88
Price Target
$NaN
Earnings Estimate
Premium
Summary

International Game Technology PLC designs, manufactures, and markets electronic gaming equipment. Its IGT Global Solutions division designs and markets lottery systems to lotteries worldwide. In April 2015, International Game Technology was acquired by Italian gaming company GTECH S.p.A. in a transaction valued at $6.4 billion. The transaction was financed with $4.7 billion in cash and stock and included the assumption of $1.7 billion in debt. The merged company operates as International Game Technology PLC. With a market capitalization of $1.7 billion, IGT shares are generally considered mid-cap growth.

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Analyst Profile

John D. Staszak, CFA

Securities Analyst: Consumer Discretionary & Consumer Staples
John's specialty at Argus includes the gaming, lodging and restaurant groups within the Consumer Discretionary sector. John earned an MBA from the University of Texas and a BA in Economics from the University of Pennsylvania. In the financial services industry, he has worked as an analyst and consultant for firms including Standard & Poor's, the Bank of New York, Harris Nesbitt Gerard and Merrill Lynch. John is a CFA charterholder. Forbes magazine named John as the second-best stock picker among restaurant analysts in 2006. He was also ranked the second-best analyst covering the restaurant sector by the Wall Street Journal in 2007, a year in which a Financial Times/StarMine survey also ranked John that same way. In 2008, the Journal again listed John as an award winner, with a third-best designation among hotel industry analysts and a fifth-best designation among restaurant analysts.