High Demanded Stock Picks International Game Technology (NYSE:IGT)

Daily Stock News:

International Game Technology (NYSE:IGT) stock picks reported the gain of 0.93 percent and closed at $15.25 whereas overall traded volume stood at 7.23 million shares for the last Friday trading session as compare to its average volume stood at 3.96 million.

Looking at its price history the share (stock picks) price traded between the prices ranges of $13.38 to $19.15 in last one year. This can also be derived that IGT is likely to find support at $13.38 while resistance could be seen at $19.15 level.

The share (stock picks) price is trading at its oversold level as per relative strength index of 45.97 times which shows that the stock could see further correction. The current market price is 5.73 percent which is less than its last 50 days simple moving average.

Introduction:

International Game Technology (NYSE:IGT) was incorporated in 1980 and is engaged in designing, manufacturing and marketing of electronic gaming equipment and systems around the globe. Based in Reno, Nevada, the company offers casino-style slot machines, central determination system machines, video lottery terminals and electronic and video bingo machines. The company also offers systems products such as casino management, customer relationship marketing (CRM) and server based games and player management. The company’s products are sold in markets of United States, Canada, Europe, Middle East, Africa, Mexico and South/Central America, Asia, Australia, New Zealand and the United Kingdom.

Financial Analysis:

International Game Technology (NYSE:IGT) generated the total revenue of $445.50 million for the quarter ended December 31st, 2011 as compared to revenue of $451.20 million for the same period last year. The company reported the net profit of $49.30 million or earnings of $0.17 per share for the respective quarter as compared to net income of $73.70 million or earnings of $0.24 per share last year.

The company’s total assets accumulate up to $4.15 billion out of which fixed assets have the highest proportion. The company maintains a strong short term liquidity position as per its current ratio of 2.92 times.