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

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

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

International Game Technology Stock Up 1.3 %

IGT opened at $19.23 on Monday. International Game Technology has a fifty-two week low of $18.56 and a fifty-two week high of $28.82. 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 firm’s fifty day moving average price is $20.74 and its two-hundred day moving average price is $20.89. The company has a market capitalization of $3.83 billion, a P/E ratio of 31.98 and a beta of 1.96.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share 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 business had revenue of $587.00 million for the quarter, compared to analyst estimates of $591.50 million. During the same quarter in the prior year, the firm earned $0.52 EPS. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. On average, analysts anticipate that International Game Technology will post 1 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 4.16%. International Game Technology’s dividend payout ratio is currently 133.33%.

Institutional Trading of International Game Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&G Plc bought a new stake in International Game Technology during the 2nd quarter worth about $8,850,000. Solel Partners LP bought a new stake in International Game Technology during the 2nd quarter worth about $43,478,000. Seven Eight Capital LP bought a new stake in International Game Technology during the 2nd quarter worth about $1,182,000. SG Americas Securities LLC raised its holdings in International Game Technology by 10.8% during the 1st quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock worth $194,000 after purchasing an additional 836 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in International Game Technology during the 2nd quarter worth about $1,252,000. 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.