International Game Technology PLC (NYSE:IGT) Plans $0.20 Quarterly Dividend

International Game Technology PLC (NYSE:IGT) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 annualized dividend and a yield of 4.56%. The ex-dividend date of this dividend is Tuesday, March 11th.

International Game Technology has increased its dividend by an average of 58.7% annually over the last three years. International Game Technology has a payout ratio of 57.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect International Game Technology to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 64.0%.

International Game Technology Trading Down 1.9 %

International Game Technology stock opened at $17.56 on Friday. The stock has a market cap of $3.55 billion, a P/E ratio of 29.26 and a beta of 1.86. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. International Game Technology has a 1 year low of $16.42 and a 1 year high of $25.63. The firm’s 50 day moving average price is $17.41 and its 200-day moving average price is $19.32.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The company had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.56 EPS. On average, equities analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Truist Financial reduced their price target on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $28.00.

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.