International Game Technology PLC (IGT) to Issue Quarterly Dividend of $0.20 on March 25th

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be given a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date of this dividend is Tuesday, March 11th.

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 57.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Game Technology to earn $1.25 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 64.0%.

International Game Technology Stock Down 1.9 %

NYSE:IGT opened at $17.56 on Friday. The firm has a market cap of $3.55 billion, a P/E ratio of 29.26 and a beta of 1.86. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a fifty-two week low of $16.42 and a fifty-two week high of $25.63. The firm has a 50-day simple moving average of $17.41 and a two-hundred day simple moving average of $19.32.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The firm had revenue of $651.00 million for the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 earnings per share. Analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IGT. Truist Financial dropped their price target on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

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.