International Game Technology PLC (NYSE:IGT) Receives $28.67 Consensus Price Target from Analysts

International Game Technology PLC (NYSE:IGT) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $28.67.

Separately, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

International Game Technology Stock Down 0.6 %

IGT stock opened at $17.07 on Friday. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of 28.45 and a beta of 1.91. The company has a 50-day moving average of $19.86 and a two-hundred day moving average of $20.74. International Game Technology has a 52-week low of $16.97 and a 52-week high of $28.23. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). The business had revenue of $587.00 million for the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. As a group, equities research analysts anticipate that International Game Technology will post 1 EPS for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology’s payout ratio is presently 133.33%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Signaturefd LLC bought a new stake in International Game Technology in the 3rd quarter valued at $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Game Technology in the second quarter valued at about $31,000. Blue Trust Inc. acquired a new position in International Game Technology in the second quarter worth about $44,000. Industrial Alliance Investment Management Inc. lifted its stake in International Game Technology by 100.9% during the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after purchasing an additional 1,160 shares during the period. Finally, CWM LLC lifted its stake in International Game Technology by 156.7% during the second quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after purchasing an additional 1,417 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.

About International Game Technology

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.