Shares of International Game Technology PLC (NYSE:IGT – Get Rating) have earned a consensus rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $40.80.
A number of research firms have recently commented on IGT. Jefferies Financial Group raised International Game Technology from a “hold” rating to a “buy” rating and dropped their price target for the stock from $30.00 to $26.00 in a research report on Thursday, May 12th. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Credit Suisse Group raised their price objective on shares of International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on shares of International Game Technology from $39.00 to $37.00 in a research note on Wednesday, May 11th.
A number of hedge funds have recently made changes to their positions in IGT. Mitsubishi UFJ Trust & Banking Corp raised its stake in International Game Technology by 7.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,211 shares of the company’s stock valued at $469,000 after acquiring an additional 1,079 shares during the period. 140 Summer Partners LP raised its position in shares of International Game Technology by 164.4% in the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company’s stock valued at $73,901,000 after purchasing an additional 1,589,548 shares during the period. Kestra Advisory Services LLC lifted its stake in shares of International Game Technology by 1.8% during the 4th quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company’s stock worth $757,000 after buying an additional 459 shares during the last quarter. Lazard Asset Management LLC grew its stake in International Game Technology by 16.1% in the 4th quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company’s stock valued at $173,074,000 after buying an additional 828,482 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new position in International Game Technology in the 4th quarter valued at about $402,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.
International Game Technology (NYSE:IGT – Get Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. International Game Technology had a return on equity of 3.35% and a net margin of 11.37%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, equities analysts predict that International Game Technology will post 1.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 7th. Stockholders of record on Tuesday, May 24th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, May 23rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.64%. International Game Technology’s dividend payout ratio is 35.09%.
About International Game Technology (Get Rating)
International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.
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