International Game Technology (NYSE:IGT) Hits New 52-Week Low at $19.96

Shares of International Game Technology PLC (NYSE:IGT) hit a new 52-week low during trading on Friday . The company traded as low as $19.96 and last traded at $19.98, with a volume of 1171697 shares trading hands. The stock had previously closed at $20.80.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Truist Financial cut their target price on shares of International Game Technology from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, March 13th. B. Riley assumed coverage on shares of International Game Technology in a research note on Friday, April 5th. They issued a “buy” rating and a $30.00 target price on the stock. Argus cut their target price on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. StockNews.com raised shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $29.00 price target (down previously from $36.00) on shares of International Game Technology in a research note on Thursday, January 4th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

International Game Technology Price Performance

The stock has a market cap of $3.98 billion, a PE ratio of 26.29 and a beta of 1.94. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90. The company’s 50 day moving average is $23.76 and its 200-day moving average is $26.24.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.11. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.40 EPS. As a group, sell-side analysts predict that International Game Technology PLC will post 1.46 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Monday, March 25th. International Game Technology’s payout ratio is currently 105.26%.

Institutional Investors Weigh In On International Game Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its position in shares of International Game Technology by 166.5% in the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of International Game Technology in the 4th quarter worth about $25,000. Huntington National Bank increased its position in shares of International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after purchasing an additional 489 shares during the last quarter. Allworth Financial LP increased its position in shares of International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after purchasing an additional 847 shares during the last quarter. Finally, Highlander Capital Management LLC acquired a new position in shares of International Game Technology in the 4th quarter valued at about $27,000. Institutional investors own 44.33% of the company’s stock.

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.