Shares of International Game Technology PLC (NYSE:IGT – Get Free Report) have received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $27.67.
IGT has been the subject of several research reports. B. Riley initiated coverage on International Game Technology in a report on Friday, April 5th. They issued a “buy” rating and a $30.00 target price for the company. Truist Financial reduced their price target on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. Argus dropped their price objective on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Stifel Nicolaus reissued a “hold” rating and issued a $24.00 price objective on shares of International Game Technology in a research note on Wednesday, May 15th. Finally, StockNews.com cut International Game Technology from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 13th.
View Our Latest Report on IGT
International Game Technology Stock Performance
IGT stock opened at $19.67 on Monday. International Game Technology has a twelve month low of $19.48 and a twelve month high of $33.99. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 18.73 and a beta of 1.94. The business’s fifty day simple moving average is $20.70 and its two-hundred day simple moving average is $24.30. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59.
International Game Technology (NYSE:IGT – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business posted $0.49 EPS. Analysts predict that International Game Technology will post 1.53 earnings per share for the current year.
International Game Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 30th. International Game Technology’s payout ratio is 76.19%.
Institutional Investors Weigh In On International Game Technology
A number of institutional investors and hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC acquired a new stake in shares of International Game Technology in the fourth quarter worth $25,000. Highlander Capital Management LLC acquired a new stake in International Game Technology during the fourth quarter worth about $27,000. Huntington National Bank raised its position in International Game Technology by 113.2% during the third quarter. Huntington National Bank now owns 921 shares of the company’s stock valued at $28,000 after acquiring an additional 489 shares in the last quarter. VisionPoint Advisory Group LLC acquired a new position in International Game Technology in the fourth quarter valued at approximately $38,000. Finally, General Partner Inc. acquired a new stake in shares of International Game Technology during the 1st quarter worth approximately $45,000. Institutional investors and hedge funds own 44.33% of the company’s stock.
About International Game Technology
(Get Free Report
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.
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