International Game Technology PLC (NYSE:IGT) Receives $28.67 Consensus Target Price from Brokerages

Shares of International Game Technology PLC (NYSE:IGT) have received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $28.67.

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

Institutional Investors Weigh In On International Game Technology

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC purchased a new stake in shares of International Game Technology during the third quarter valued at approximately $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of International Game Technology in the second quarter worth $31,000. Blue Trust Inc. purchased a new position in shares of International Game Technology during the second quarter valued at approximately $44,000. Industrial Alliance Investment Management Inc. boosted its holdings in International Game Technology by 100.9% in the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after purchasing an additional 1,160 shares during the last quarter. Finally, CWM LLC grew its position in International Game Technology by 156.7% in the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after purchasing an additional 1,417 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Price Performance

IGT opened at $18.70 on Friday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock has a market capitalization of $3.72 billion, a PE ratio of 31.17 and a beta of 1.91. The stock’s 50 day moving average price is $20.09 and its 200-day moving average price is $20.82. International Game Technology has a 52-week low of $18.56 and a 52-week high of $28.82.

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

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.28%. International Game Technology’s payout ratio is currently 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.