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

Shares of International Game Technology PLC (NYSE:IGT) have been given an average recommendation of “Moderate Buy” by the six analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $28.67.

Several brokerages have commented on IGT. B. Riley reaffirmed a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a research report on Friday, July 26th. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus raised their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st.

Institutional Trading of International Game Technology

Institutional investors have recently made changes to their positions in the business. Lazard Asset Management LLC lifted its stake in International Game Technology by 63.4% during the first quarter. Lazard Asset Management LLC now owns 10,751,703 shares of the company’s stock worth $242,880,000 after purchasing an additional 4,170,813 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of International Game Technology by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock worth $158,431,000 after buying an additional 1,169,999 shares in the last quarter. Capital Research Global Investors lifted its position in shares of International Game Technology by 102.1% during the 4th quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after buying an additional 3,129,559 shares during the period. Parsifal Capital Management LP boosted its stake in International Game Technology by 40.8% in the 4th quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock valued at $117,590,000 after buying an additional 1,243,514 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in International Game Technology by 23.1% in the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock valued at $74,495,000 after acquiring an additional 509,722 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Price Performance

NYSE IGT opened at $20.78 on Friday. International Game Technology has a 1 year low of $18.90 and a 1 year high of $31.85. The company has a fifty day simple moving average of $21.75 and a 200 day simple moving average of $21.01. The company has a current ratio of 0.84, a quick ratio of 0.71 and a debt-to-equity ratio of 2.57. The company has a market cap of $4.14 billion, a P/E ratio of 19.79 and a beta of 1.95.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. International Game Technology had a net margin of 4.89% and a return on equity of 19.95%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 earnings per share. On average, sell-side analysts predict that International Game Technology will post 1.48 EPS for the current year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. The ex-dividend date of this dividend was Tuesday, August 13th. International Game Technology’s dividend payout ratio is 76.19%.

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.