International Game Technology PLC (NYSE:IGT) Announces Quarterly Dividend of $0.20

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Investors of record on Tuesday, November 26th will be paid a dividend of 0.20 per share on Tuesday, December 10th. This represents a $0.80 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, November 26th.

International Game Technology has increased its dividend payment by an average of 58.7% annually over the last three years. International Game Technology has a payout ratio of 47.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Game Technology to earn $0.96 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 83.3%.

International Game Technology Stock Performance

Shares of IGT traded down $0.08 during midday trading on Wednesday, reaching $20.90. 848,023 shares of the stock were exchanged, compared to its average volume of 1,108,961. International Game Technology has a twelve month low of $18.90 and a twelve month high of $28.82. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 0.71. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 34.87 and a beta of 1.96. The business’s 50-day moving average price is $21.05 and its 200 day moving average price is $20.93.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). The firm had revenue of $587.00 million for the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. On average, sell-side analysts expect that International Game Technology will post 1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on IGT. B. Riley reissued a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Stifel Nicolaus upped their price objective on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, International Game Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

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.