International Game Technology PLC (NYSE:IGT) Given Average Recommendation of “Moderate Buy” by Analysts

International Game Technology PLC (NYSE:IGT) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com 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 twelve-month price target among brokerages that have issued ratings on the stock in the last year is $28.67.

Several research firms recently issued reports on IGT. Stifel Nicolaus raised their price target on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. StockNews.com cut shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, July 5th. Truist Financial lowered 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. Susquehanna cut their price target on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating on the stock in a report on Thursday, May 16th. Finally, B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research note on Friday, July 26th.

International Game Technology Trading Down 1.3 %

Shares of IGT opened at $21.68 on Wednesday. International Game Technology has a fifty-two week low of $18.90 and a fifty-two week high of $33.48. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 20.65 and a beta of 1.96. The firm has a 50 day moving average price of $21.44 and a 200-day moving average price of $21.37. The company has a debt-to-equity ratio of 2.57, a quick ratio of 0.71 and a current ratio of 0.84.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.07. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the firm posted $0.45 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities research analysts forecast that International Game Technology will post 1.48 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Tuesday, August 13th. International Game Technology’s payout ratio is 76.19%.

Hedge Funds Weigh In On International Game Technology

A number of institutional investors have recently bought and sold shares of IGT. Norges Bank purchased a new position in shares of International Game Technology during the 4th quarter worth approximately $35,011,000. Wellington Management Group LLP grew its holdings in International Game Technology by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock worth $74,495,000 after purchasing an additional 509,722 shares during the period. Okabena Investment Services Inc. bought a new position in shares of International Game Technology during the fourth quarter valued at approximately $1,397,000. Beryl Capital Management LLC purchased a new position in shares of International Game Technology during the fourth quarter valued at approximately $16,431,000. Finally, M&G Plc bought a new stake in shares of International Game Technology in the 2nd quarter worth approximately $8,850,000. 44.33% of the stock is owned by institutional investors.

International Game Technology Company Profile

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.