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

International Game Technology PLC (NYSE:IGT) has been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $28.67.

A number of equities analysts have issued reports on IGT shares. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus boosted their price objective on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, B. Riley reiterated a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th.

International Game Technology Stock Performance

Shares of NYSE:IGT opened at $19.51 on Monday. The stock has a market capitalization of $3.88 billion, a P/E ratio of 32.52 and a beta of 1.96. The company has a current ratio of 2.36, a quick ratio of 0.71 and a debt-to-equity ratio of 2.85. International Game Technology has a 1-year low of $18.90 and a 1-year high of $28.82. The business has a 50-day moving average price of $20.94 and a two-hundred day moving average price of $20.92.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.52 earnings per share. Equities analysts predict that International Game Technology will post 1.16 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s payout ratio is 133.33%.

Institutional Trading of International Game Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barclays PLC grew its position in shares of International Game Technology by 49.1% in the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after acquiring an additional 96,019 shares during the period. Y Intercept Hong Kong Ltd increased its position in International Game Technology by 180.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company’s stock worth $638,000 after buying an additional 19,247 shares during the last quarter. Zacks Investment Management bought a new stake in International Game Technology in the third quarter valued at approximately $645,000. State Street Corp lifted its position in shares of International Game Technology by 1.0% in the third quarter. State Street Corp now owns 2,103,275 shares of the company’s stock valued at $44,800,000 after buying an additional 21,295 shares during the last quarter. Finally, Stifel Financial Corp boosted its stake in shares of International Game Technology by 22.2% during the 3rd quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock worth $1,197,000 after acquiring an additional 10,193 shares during the period. 44.33% of the stock is owned by institutional investors.

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.