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

International Game Technology PLC (NYSE:IGT) has been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $28.60.

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

International Game Technology Stock Up 1.3 %

Shares of NYSE IGT opened at $17.65 on Tuesday. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The firm has a market cap of $3.51 billion, a PE ratio of 29.42 and a beta of 1.92. The company’s fifty day simple moving average is $19.14 and its 200 day simple moving average is $20.47. International Game Technology has a 12-month low of $16.83 and a 12-month high of $27.27.

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

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.53%. International Game Technology’s dividend payout ratio is currently 133.33%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IGT. Rhumbline Advisers increased its stake in shares of International Game Technology by 22.2% during the 2nd quarter. Rhumbline Advisers now owns 184,801 shares of the company’s stock worth $3,781,000 after purchasing an additional 33,622 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in International Game Technology in the second quarter worth $107,000. Caprock Group LLC bought a new stake in shares of International Game Technology in the second quarter valued at $1,252,000. Headlands Technologies LLC raised its stake in shares of International Game Technology by 112.9% in the second quarter. Headlands Technologies LLC now owns 7,778 shares of the company’s stock valued at $159,000 after buying an additional 4,124 shares during the period. Finally, Qsemble Capital Management LP lifted its position in shares of International Game Technology by 5.1% during the 2nd quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock valued at $266,000 after buying an additional 631 shares during the last quarter. Hedge funds and other 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 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.