Analysts Set International Game Technology PLC (NYSE:IGT) Price Target at $28.00

Shares of International Game Technology PLC (NYSE:IGT) have been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $28.00.

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

Hedge Funds Weigh In On International Game Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hexagon Capital Partners LLC raised its holdings in International Game Technology by 26.1% in 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 in the last quarter. Point72 DIFC Ltd raised its holdings in shares of International Game Technology by 7.9% in the 3rd quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock valued at $274,000 after purchasing an additional 947 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of International Game Technology by 7.2% during the 3rd quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock worth $317,000 after purchasing an additional 996 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of International Game Technology by 5.1% during the fourth quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after purchasing an additional 1,145 shares in the last quarter. Finally, Signaturefd LLC purchased a new position in International Game Technology in the third quarter valued at $26,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Trading Down 1.9 %

IGT opened at $16.70 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 27.83 and a beta of 1.91. International Game Technology has a 12 month low of $16.42 and a 12 month high of $27.27. The stock has a fifty day moving average price of $17.96 and a 200-day moving average price of $20.05.

International Game Technology (NYSE:IGT) last posted its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The firm had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS. As a group, equities 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 business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.79%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is 133.34%.

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.