International Game Technology PLC (NYSE:IGT) Given Consensus Rating of “Buy” by Analysts
Shares of International Game Technology PLC (NYSE:IGT - Get Rating) have been given an average rating of "Buy" by the six ratings firms that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $35.00.
IGT has been the subject of a number of recent analyst reports. StockNews.com upgraded shares of International Game Technology from a "buy" rating to a "strong-buy" rating in a report on Tuesday, November 15th. Stifel Nicolaus decreased their price objective on shares of International Game Technology from $36.00 to $26.00 in a report on Monday, August 1st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of International Game Technology from $35.00 to $30.00 in a report on Wednesday, August 3rd.
International Game Technology Price Performance
IGT stock opened at $24.00 on Tuesday. The firm has a 50 day moving average price of $19.75 and a 200-day moving average price of $19.64. International Game Technology has a 52-week low of $15.01 and a 52-week high of $30.84. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 13.64 and a beta of 1.84. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.16.
International Game Technology (NYSE:IGT - Get Rating) last released its earnings results on Tuesday, November 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.18. International Game Technology had a net margin of 8.56% and a return on equity of 24.78%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.31 earnings per share. The business's revenue was up 7.7% on a year-over-year basis. Equities research analysts forecast that International Game Technology will post 1.9 EPS for the current fiscal year.
International Game Technology Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Monday, November 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date is Friday, November 25th. International Game Technology's payout ratio is 45.45%.
Institutional Investors Weigh In On International Game Technology
A number of hedge funds have recently modified their holdings of the business. Toroso Investments LLC bought a new stake in shares of International Game Technology during the 3rd quarter valued at $266,000. Glenmede Trust Co. NA boosted its holdings in International Game Technology by 13.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 83,255 shares of the company's stock worth $1,314,000 after buying an additional 9,730 shares during the period. BNP Paribas Arbitrage SNC boosted its holdings in International Game Technology by 6.9% in the 3rd quarter. BNP Paribas Arbitrage SNC now owns 195,608 shares of the company's stock worth $3,091,000 after buying an additional 12,547 shares during the period. Neuberger Berman Group LLC boosted its holdings in International Game Technology by 4.2% in the 3rd quarter. Neuberger Berman Group LLC now owns 3,890,276 shares of the company's stock worth $61,414,000 after buying an additional 157,003 shares during the period. Finally, State Street Corp boosted its holdings in International Game Technology by 0.4% in the 3rd quarter. State Street Corp now owns 1,722,675 shares of the company's stock worth $27,218,000 after buying an additional 6,727 shares during the period. Institutional investors own 44.33% of the company's stock.
About International Game Technology
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.
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