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VectorVest Stock Analysis
of Int'l Game Tch as of
3/24/2004
Thank you for requesting an
analysis of Int'l Game Tch from VectorVest. The ticker
symbol for Int'l Game Tch is IGT. IGT is traded on
the New York Stock Exchange - (xN) and options are
available for this stock
Analysis
Summary
IGT is fairly valued compared
to its Price of $44.17 per share, <SPAN
class=greentext2>has well above average safety,
and is currently rated a
Buy.
<TD
class=CaptionBorderBottom>In-Depth Analysis
<SPAN
class=headerclass>Business: INTL GAME TECHNOLOGY,
(IGT) designs and makes computerized casino gaming
products and proprietary gaming systems including video
gaming operations and slot machines.
<SPAN
class=headerclass>Price: IGT closed on 3/24/2004
at $44.17 per share
<SPAN
class=headerclass>Value: Value is a measure
of a stock's current worth. <SPAN
class=bluetext2>IGT has a current Value of $44.46 per
share. Therefore, it is fairly valued compared to
its Price of $44.17 per share. Value
is computed from forecasted earnings per share,
forecasted earnings growth, profitability, interest, and
inflation rates. Value increases when earnings, earnings
growth rate and profitably increase, and when interest
and inflation rates decrease. VectorVest advocates the
purchase of undervalued stocks. At some point in time, a
stock's Price and Value always will converge.
RV
(Relative Value): RV is an indicator of
long-term price appreciation potential. <SPAN
class=greentext2>IGT has an RV of 1.31, which is very
good on a scale of 0.00 to 2.00. This indicator
is far superior to a simple comparison of Price and
Value because it is computed from an analysis of
projected price appreciation three years out, AAA
Corporate Bond Rates, and risk. RV solves the riddle of
whether it is preferable to buy High growth, High P/E
stocks, or Low growth, Low P/E stocks. VectorVest favors
the purchase of stocks with RV ratings above 1.00.
RS
(Relative Safety): RS is an indicator of
risk. IGT has an RS rating of
1.29, which is very good on a scale of 0.00 to
2.00. RS is computed from an analysis of the
consistency and predictability of a company's financial
performance, debt to equity ratio, sales volume,
business longevity, price volatility and other factors.
A stock with an RS rating greater than 1.00 is safer and
more predictable than the average stock in the
VectorVest database. VectorVest favors the purchase of
stocks of companies with consistent, predictable
financial performance.
RT
(Relative Timing): RT is a fast, smart,
accurate indicator of a stock's price trend. <SPAN
class=greentext2>IGT has a Relative Timing rating of
1.51, which is excellent on a scale of 0.00 to
2.00. RT is computed from an analysis of
the direction, magnitude, and dynamics of a stock's
price movements over one day, one week, one quarter and
one year time periods. Once a stock's price has
established a strong trend, it is expected to continue
in that trend for the short-term. If a trend dissipates,
RT will gravitate toward 1.00. RT will explode from
bottoms, dive from tops, and reflect changes in price
momentum. VectorVest favors the purchase of stocks with
RT ratings above 1.00.
VST
(VST-Vector): VST is the master indicator
for ranking every stock in the VectorVest database.
IGT has a VST rating of 1.39,
which is very good on a scale of 0.00 to
2.00. VST is computed from the square root
of a weighted sum of the squares of RV, RS, and RT.
Stocks with the highest VST ratings have the best
combinations of Value, Safety and Timing. These are the
stocks to own for above average, long-term capital
appreciation. VectorVest advocates the purchase of safe,
undervalued stocks rising in price. <A
href=""
target=_blank>The efficacy of this indicator was
demonstrated in a study conducted at the University of
Chicago which showed that high VST stocks outperformed
the S&P 500 by 583.1% over the six year period from
1996 through 2002.
CI (Comfort
Index): CI is an indicator which reflects a
stock's ability to resist severe and/or lengthy price
declines. IGT has a CI rating of
1.56, which is excellent on a scale of 0.00 to
2.00. CI is quite different from RS in that it is
based solely upon a stock's long-term price history.
VectorVest advocates the purchase of high CI stocks.
GRT (Earnings Growth
Rate): GRT reflects a company's one to three
year forecasted earnings growth rate in percent per
year. IGT has a forcasted
Earnings Growth Rate of 20.00%, which VectorVest
considers to be very good. GRT is computed from
historical, current and forecasted earnings data. It is
updated each week for every stock in the VectorVest
database. GRT often foretells a stock's future price
trend. If a stock's GRT trend is upward, the stock's
price will likely rise. If GRT is trending downward, the
stock's Price will probably fall. VectorVest favors the
purchase of stocks whose GRT is rising and is greater
than the sum of current inflation and interest rates,
(6.98%).
Recommendation
(REC): VectorVest gives a Buy, Sell, Hold
recommendation on every stock, every day. <SPAN
>IGT has a Buy
recommendation. REC reflects the cumulative
effect of all the VectorVest parameters working
together. These parameters are designed to help
investors buy safe, undervalued stocks rising in price.
They also help investors avoid or sell risky, overvalued
stocks falling in price. VectorVest recommends that
investors buy high VST-Vector, Buy-rated stocks in
rising markets.
Stop
(Stop-Price): Stop is an indicator of when
to sell a long position or cover a short position.
IGT has a Stop of $38.56
per share. This is $5.61 below IGT's current
closing Price. A stock's Stop is computed from a 13 week
moving average of its closing prices, and is fine-tuned
according to the stock's fundamentals. High RV, high RS
stocks have lower Stops, and low RV, low RS stocks have
higher Stops. In the VectorVest system, a stock gets a
'B' or 'H' recommendation if its Price is above its Stop
and an 'S' recommendation if its Price is below its
Stop.
EPS
(Earnings per Share): EPS stands for
leading 12 months Earnings Per Share. <SPAN
class=headerclass>IGT has a forecasted EPS of $1.36
per share. VectorVest determines this forecast
from a combination of recent earnings performance and
traditional fiscal and/or calendar year earnings
forecasts.
P/E (Price
to Earnings Ratio): P/E is a popular measure of
stock valuation which shows the dollars required to buy
one dollar of earnings. <SPAN
class=headerclass>IGT has a P/E of 32.48. This
ratio may be deemed to be high or low depending upon
your frame of reference. The average P/E of all the
stocks in the VectorVest database is 35.16. P/E is
computed daily using the formula: P/E = Price/EPS.
EY (Earnings Yield):
EY reflects earnings per share as a percent of Price. EY
is related to P/E via the formula, EY = 100 / (P/E), and
may be used in place of P/E as a measure of valuation.
EY has the advantages that it is always determinate and
can reflect negative earnings. <SPAN
class=headerclass>IGT has an EY of 3.08
percent. This is above the current average of
2.84% for all the stocks in the VectorVest database. EY
equals 100 x (EPS/Price).
GPE (Growth
to P/E Ratio): GPE is another popular measure of
stock valuation. It compares earnings growth rate to P/E
ratio. IGT has a GPE rating of
0.62. High growth stocks are believed to be
able to justify high P/E ratios. A stock is commonly
considered to be undervalued when GPE is greater than
1.00 and overvalued when GPE is below 1.00.
Unfortunately, this rule of thumb does not take into
account the effect of interest rates on P/E ratios. The
operative GPE ratio of 1.00 is valid when and only when
interest rates equal 10%. With long-term interest rates
currently at 5.28%, the operative GPE ratio is 0.28.
Therefore, IGT may be
considered to be undervalued.
DIV
(Dividend): VectorVest reports annual, regular,
cash dividends as indicated by the most recent payments.
Special distributions, one-time payments, stock
dividends, etc., are not generally included in DIV.
IGT pays a dividend of $0.4 per
share.
DY
(Dividend Yield): DY reflects earnings per share
as a percent of Price. IGT has a
Dividend Yield of 0.9%. This is below to the
current average of 1.3% for all the stocks in the
VectorVest database. DY equals 100 x (DIV/Price). It is
useful to compare DY with EY. If DY is not significantly
lower than EY, the dividend payment may be in jeopardy.
DS (Dividend Safety):
DS is an indicator of the assurance that regular cash
dividends will be declared and paid at current or at
higher rates for the foreseeable future. <SPAN
class=greentext2>IGT has a Dividend Safety of 84 , which
is excellent on a scale of 0 to 99. Stocks with
DS values above 75 typically have RS values well above
1.00 and EY levels that are much higher than DY.
DG
(Dividend Growth Rate): Dividend Growth is a
subtle yet important indicator of a company's financial
performance. It also provides some insight into the
board's outlook on the company's ability to increase
earnings. IGT has a Dividend
Growth of -7% This is below to the current
average of 2% for all the stocks in the VectorVest
database.
YSG
(YSG-Vector): YSG is an indicator which
combines DIV, DY and DG into a single value, and allows
direct comparison of all dividend-paying stocks in the
database. IGT has a YSG rating of
0.85, which is fair on a scale of 0.00 to 2.00.
Stocks with the highest YSG values have the best
combinations of Dividend Yield, Safety and Growth. These
are the stocks to buy for above average current income
and long-term growth.
<SPAN
class=headerclass>Open: IGT opened
trading at a price of $42.30 per share on
3/24/2004.
<SPAN
class=headerclass>High: IGT traded at a High
price of $44.50 per share on 3/24/2004.
Low: IGT traded
at a Low price of $42.30 per share on 3/24/2004
Close: IGT
closed trading at price $44.17 per share on 3/24/2004.
(Close is also called Price in the VectorVest
system)
Range: Range reflects
the difference between the High and Low prices for the
day. IGT traded with a range of $2.20 per share on
3/24/2004.
$Change: IGT
closed up 2.71 from the prior
day's closing Price.
%PRC: IGT's Price
changed 6.54% from the prior day's closing
price.
Volume: IGT
traded 9,093,700 shares on 3/24/2004.
AvgVol: AvgVol is the
50 day moving average of daily volume as computed by
VectorVest. IGT has an AvgVol of
2,322,900 shares traded per day.
%Vol: %Vol reflects
the percent change in today's trading volume as compared
to the AvgVol. %Vol equals 100 x
(Volume/AvgVol). IGT had a %Vol of
291.48% on 3/24/2004
Sales: IGT has annual
sales of $2,246,000,000
Sales Growth: Sales
Growth is the Sales Growth Rate in percent over the last
12 months. IGT has a Sales
Growth of 24.00% per year. This is excellent.
Sales Growth is updated each week for every stock. It is
often useful to compare Sales Growth to Earnings Growth
to gain an insight into a company's operations.
Sales Per Share (SPS):
IGT has annual sales of $6.48 per share. SPS
can be used as a measure of valuation when comparing
stocks within an Industry Group.
Price to Sales Ratio
(P/S): IGT has a P/S of 6.81. This ratio is
also used as a measure of valuation. Here, too, it is
useful when comparing stocks within an Industry
Group.
Shares: IGT
has 346,000,000 shares of stock
outstanding.
Market Capitalization: IGT
has a Market Capitalization of $15,306,000,000.
Market Capitalization is calculated by multiplying price
times shares outstanding.
Industry Group: IGT
has been assigned to the <SPAN
class=HEADERCLASS>Leisure (Gaming) Industry
Group. VectorVest classifies stocks into over 200
Industry Groups and 40 Business Sectors.
Business
Sector: IGT has been assigned to
the Leisure Business
Sector. VectorVest classifies stocks into over 200
Industry Groups and 40 Business Sectors.
The basic strategy of VectorVest
is to buy Low risk, High reward stocks. We suggest that
Prudent investors buy enough High Relative Value, High
Relative Safety stocks to keep the overall RV and RS
ratings of their portfolios above 1.00. As you do this,
you'll find that your risk will go down and your
investment performance will improve.
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Int'l
Game Tch
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src="">
<IMG
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<TD class=graphcaption width=320
height=20>Leisure (Gaming)
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