International Game Technology (IGT) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for International Game Technology (NYSE: IGT):

• 5/16/2024 – International Game Technology had its price target lowered by analysts at Susquehanna from $40.00 to $33.00. They now have a “positive” rating on the stock.
• 5/15/2024 – International Game Technology had its price target lowered by analysts at Truist Financial Co. from $26.00 to $23.00. They now have a “hold” rating on the stock.
• 5/15/2024 – International Game Technology had its “hold” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $24.00 price target on the stock.
• 5/13/2024 – International Game Technology was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 4/23/2024 – International Game Technology had its price target lowered by analysts at Truist Financial Co. from $28.00 to $26.00. They now have a “hold” rating on the stock.
• 4/5/2024 – International Game Technology is now covered by analysts at B. Riley. They set a “buy” rating and a $30.00 price target on the stock.
• 4/3/2024 – International Game Technology was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

International Game Technology Stock Performance

Shares of IGT stock opened at $19.62 on Friday. The firm has a market capitalization of $3.91 billion, a PE ratio of 18.69 and a beta of 1.94. The company has a 50 day moving average price of $20.72 and a 200-day moving average price of $24.42. International Game Technology PLC has a 52 week low of $19.48 and a 52 week high of $33.99. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.29 by $0.17. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. International Game Technology’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 earnings per share. As a group, equities research analysts expect that International Game Technology PLC will post 1.53 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, May 30th. This represents a $0.80 annualized dividend and a yield of 4.08%. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On International Game Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of International Game Technology by 36.8% during the third quarter. Wellington Management Group LLP now owns 2,208,079 shares of the company’s stock worth $66,949,000 after purchasing an additional 594,552 shares in the last quarter. Invesco Ltd. grew its holdings in International Game Technology by 2.3% during the 3rd quarter. Invesco Ltd. now owns 1,600,691 shares of the company’s stock valued at $48,533,000 after buying an additional 35,911 shares in the last quarter. Barclays PLC grew its holdings in International Game Technology by 24.8% during the 3rd quarter. Barclays PLC now owns 105,878 shares of the company’s stock valued at $3,212,000 after buying an additional 21,029 shares in the last quarter. Deutsche Bank AG raised its position in shares of International Game Technology by 2.2% during the third quarter. Deutsche Bank AG now owns 257,852 shares of the company’s stock valued at $7,818,000 after buying an additional 5,648 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of International Game Technology by 770.0% during the third quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after acquiring an additional 847 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

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.