International Game Technology PLC (NYSE:IGT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of International Game Technology PLC (NYSE:IGT) have been given an average recommendation of “Moderate Buy” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $28.67.

Separately, StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

International Game Technology Price Performance

International Game Technology stock opened at $17.94 on Friday. The stock has a 50-day moving average price of $19.99 and a two-hundred day moving average price of $20.79. International Game Technology has a 12 month low of $17.81 and a 12 month high of $28.23. The company has a market capitalization of $3.57 billion, a PE ratio of 29.90 and a beta of 1.91. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. During the same quarter last year, the business earned $0.52 EPS. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. Analysts expect that International Game Technology will post 1 EPS for the current year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.46%. International Game Technology’s dividend payout ratio (DPR) is currently 133.33%.

Hedge Funds Weigh In On International Game Technology

Hedge funds have recently bought and sold shares of the company. Sei Investments Co. grew its holdings in International Game Technology by 0.3% during the 2nd quarter. Sei Investments Co. now owns 202,224 shares of the company’s stock worth $4,137,000 after acquiring an additional 515 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of International Game Technology by 26.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock valued at $60,000 after purchasing an additional 579 shares in the last quarter. Qsemble Capital Management LP grew its stake in International Game Technology by 5.1% during the second quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock worth $266,000 after purchasing an additional 631 shares during the period. Point72 DIFC Ltd increased its holdings in International Game Technology by 7.9% in the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after purchasing an additional 947 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in International Game Technology by 7.2% in the third quarter. Victory Capital Management Inc. now owns 14,897 shares of the company’s stock valued at $317,000 after buying an additional 996 shares during the period. Institutional investors own 44.33% of the company’s stock.

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.