International Game Technology (IGT) NewsBite - IGT Earnings Top Estimates

Posted: Friday, November 06, 2009 11:23 AM EDT

International Game Technology (NYSE: IGT) opened at $19.25. So far today, the stock has hit a low of $19.19 and a high of $20.51. IGT is now trading at $20.12, up $1.56 (8.41%). Over the last 52 weeks the stock has ranged from a low of $6.81 to a high of $23.30. Last night, IGT reported a fourth-quarter loss of $21.3 million, or 7 cents per share. Excluding one-time items, IGT earned 19 cents per share on revenue of $514 million, topping analysts' forecasts of 17 cents per share on revenue of $492.7 million. Technical indicators for the stock are neutral and S&P gives IGT a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on IGT the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 17.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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