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

Shares of International Game Technology PLC (NYSE:IGT) have earned an average recommendation of “Moderate Buy” from the five research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $28.00.

Several analysts recently issued reports on IGT shares. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Truist Financial cut their target price on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th.

International Game Technology Stock Performance

Shares of IGT stock opened at $17.03 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. The company’s fifty day moving average price is $18.00 and its two-hundred day moving average price is $20.10. The firm has a market capitalization of $3.39 billion, a P/E ratio of 28.38 and a beta of 1.92. 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 released its quarterly 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). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. During the same quarter last year, the firm posted $0.52 EPS. The company’s revenue was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that International Game Technology will post 1.23 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.70%. International Game Technology’s dividend payout ratio (DPR) is 133.34%.

Hedge Funds Weigh In On International Game Technology

A number of large investors have recently bought and sold shares of IGT. Signaturefd LLC acquired a new stake in shares of International Game Technology during the 3rd quarter worth approximately $26,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology in the fourth quarter valued at $45,000. Hexagon Capital Partners LLC boosted its holdings in shares of International Game Technology by 26.1% during the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after acquiring an additional 579 shares during the period. Point72 DIFC Ltd grew its position in shares of International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after acquiring an additional 947 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of International Game Technology by 7.2% in the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock worth $317,000 after acquiring an additional 996 shares during the period. Institutional investors own 44.33% of the company’s stock.

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.