International Game Technology PLC (NYSE:IGT) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of International Game Technology PLC (NYSE:IGT) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $31.00.

A number of research firms have recently issued reports on IGT. Argus cut their price objective on International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, March 13th. Jefferies Financial Group reiterated a “hold” rating and issued a $29.00 target price (down from $36.00) on shares of International Game Technology in a research report on Thursday, January 4th. 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. Truist Financial lowered their price objective on International Game Technology from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $26.00 price objective (down from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new position in shares of International Game Technology in the fourth quarter worth approximately $25,000. CWM LLC boosted its stake in shares of International Game Technology by 166.5% in the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after purchasing an additional 561 shares in the last quarter. Highlander Capital Management LLC bought a new position in shares of International Game Technology during the 4th quarter valued at $27,000. Huntington National Bank raised its position in 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 period. Finally, Allworth Financial LP lifted its stake in International Game Technology by 770.0% in the third 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. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Up 0.8 %

Shares of International Game Technology stock opened at $19.90 on Thursday. The company has a market capitalization of $3.96 billion, a P/E ratio of 26.18 and a beta of 1.94. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26 and a quick ratio of 1.07. The business has a 50-day moving average of $22.20 and a two-hundred day moving average of $25.30. International Game Technology has a 1 year low of $19.48 and a 1 year high of $33.99.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm posted $0.40 EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, equities analysts predict that International Game Technology will post 1.47 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend was Monday, March 25th. International Game Technology’s payout ratio is currently 105.26%.

International Game Technology Company Profile

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.