International Game Technology PLC (NYSE:IGT) Given Average Rating of “Buy” by Analysts

International Game Technology PLC (NYSE:IGT – Get Rating) has earned a consensus recommendation of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $39.00.

A number of equities analysts recently commented on IGT shares. Deutsche Bank Aktiengesellschaft raised their target price on International Game Technology from $29.00 to $33.00 in a report on Wednesday, March 1st. Stifel Nicolaus upped their target price on shares of International Game Technology from $27.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, February 7th. StockNews.com began coverage on shares of International Game Technology in a research report on Thursday, March 16th. They issued a “strong-buy” rating for the company. Credit Suisse Group upped their price objective on International Game Technology from $62.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 1st. Finally, B. Riley initiated coverage on International Game Technology in a report on Thursday, April 20th. They issued a “buy” rating and a $43.00 target price for the company.

International Game Technology Stock Performance

IGT opened at $25.95 on Thursday. The stock has a market cap of $5.17 billion, a P/E ratio of 24.25 and a beta of 1.86. The company has a debt-to-equity ratio of 2.96, a current ratio of 1.03 and a quick ratio of 0.90. The firm has a fifty day moving average price of $26.34 and a 200 day moving average price of $25.18. International Game Technology has a 1 year low of $15.01 and a 1 year high of $28.98.

International Game Technology (NYSE:IGT – Get Rating) last announced its earnings results on Tuesday, May 9th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.10. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. International Game Technology had a return on equity of 28.84% and a net margin of 5.17%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.39 EPS. Equities research analysts anticipate that International Game Technology will post 1.68 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 25th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Wednesday, May 24th. International Game Technology’s dividend payout ratio is currently 74.77%.

Hedge Funds Weigh In On International Game Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. Resources Management Corp CT ADV acquired a new stake in International Game Technology in the 1st quarter valued at about $96,000. Cerity Partners LLC purchased a new position in shares of International Game Technology during the 1st quarter worth approximately $502,000. Parkside Financial Bank & Trust increased its stake in shares of International Game Technology by 84.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after purchasing an additional 534 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of International Game Technology by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock worth $41,000 after purchasing an additional 518 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in International Game Technology by 34.2% in the 4th quarter. IFP Advisors Inc now owns 1,899 shares of the company’s stock valued at $60,000 after buying an additional 484 shares in the last quarter. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Company Profile

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International Game Technology PLC engages in the designing, manufacturing, and marketing of electronic gaming equipment, software, and network systems. It operates through the Global Lottery, Global Gaming, and Digital & Betting segments. The Global Lottery segment has responsibility for the worldwide traditional lottery and iLottery business, including sales, operations, product development, technology, and support.