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

Shares of International Game Technology PLC (NYSE:IGT) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $28.67.

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

Institutional Trading of International Game Technology

Institutional investors and hedge funds have recently modified their holdings of the business. M&G Plc acquired a new stake in International Game Technology in the second quarter valued at approximately $8,850,000. Solel Partners LP acquired a new stake in shares of International Game Technology during the 2nd quarter valued at $43,478,000. Seven Eight Capital LP bought a new stake in International Game Technology during the 2nd quarter worth $1,182,000. SG Americas Securities LLC increased its holdings in International Game Technology by 10.8% in 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 in the last quarter. Finally, Caprock Group LLC bought a new position in International Game Technology in the second quarter valued at about $1,252,000. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Trading Down 2.0 %

Shares of IGT stock opened at $19.51 on Monday. International Game Technology has a 12-month low of $18.90 and a 12-month high of $28.82. The company has a market capitalization of $3.88 billion, a PE ratio of 32.52 and a beta of 1.96. The firm has a 50 day moving average price of $20.94 and a two-hundred day moving average price of $20.92. The company has a quick ratio of 0.71, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 earnings per share. As a group, analysts predict that International Game Technology will post 1.16 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.10%. The ex-dividend date is Tuesday, November 26th. International Game Technology’s payout ratio is presently 133.33%.

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.