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

International Game Technology PLC (NYSE:IGT) has received a consensus rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $28.67.

Several research analysts have commented on IGT shares. B. Riley restated a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a report on Friday, July 26th. Stifel Nicolaus lifted their price objective on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th.

International Game Technology Stock Down 0.0 %

NYSE IGT opened at $21.73 on Friday. International Game Technology has a 1 year low of $18.90 and a 1 year high of $31.85. The stock has a market capitalization of $4.33 billion, a PE ratio of 20.70 and a beta of 1.96. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71. The business’s 50-day moving average is $21.78 and its 200 day moving average is $21.02.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the company earned $0.45 EPS. The business’s quarterly revenue was down .6% compared to the same quarter last year. Sell-side analysts forecast that International Game Technology will post 1.48 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.68%. International Game Technology’s payout ratio is 76.19%.

Institutional Investors Weigh In On International Game Technology

Several hedge funds have recently added to or reduced their stakes in IGT. Quarry LP raised its position in shares of International Game Technology by 99.1% in the 2nd quarter. Quarry LP now owns 5,460 shares of the company’s stock worth $112,000 after purchasing an additional 2,717 shares during the last quarter. Algert Global LLC purchased a new position in International Game Technology in the second quarter worth about $3,145,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Game Technology in the second quarter worth about $31,000. Long Pond Capital LP bought a new position in shares of International Game Technology in the second quarter worth approximately $32,053,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of International Game Technology by 8.4% during the second quarter. The Manufacturers Life Insurance Company now owns 40,622 shares of the company’s stock valued at $831,000 after buying an additional 3,144 shares during the last quarter. 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.