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

Shares of International Game Technology PLC (NYSE:IGT) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $28.67.

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On International Game Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in IGT. Signaturefd LLC bought a new stake in International Game Technology in the third quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Game Technology in the second quarter valued at approximately $31,000. Blue Trust Inc. bought a new position in International Game Technology during the second quarter valued at $44,000. Industrial Alliance Investment Management Inc. increased its position in International Game Technology by 100.9% in the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after buying an additional 1,160 shares during the last quarter. Finally, CWM LLC raised its stake in shares of International Game Technology by 156.7% in the second quarter. CWM LLC now owns 2,321 shares of the company’s stock valued at $47,000 after buying an additional 1,417 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Stock Down 1.6 %

Shares of NYSE IGT opened at $18.80 on Friday. 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 has a 1 year low of $18.56 and a 1 year high of $28.82. The stock has a market capitalization of $3.74 billion, a P/E ratio of 31.33 and a beta of 1.91. The company has a 50-day moving average price of $20.16 and a 200-day moving average price of $20.82.

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

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a yield of 4.26%. International Game Technology’s dividend payout ratio (DPR) is currently 133.33%.

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.