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

International Game Technology PLC (NYSE:IGT) has received an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $28.67.

IGT has been the subject of several research analyst reports. B. Riley reiterated a “buy” rating and issued a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. Stifel Nicolaus boosted their price objective on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Hedge Funds Weigh In On International Game Technology

A number of large investors have recently bought and sold shares of the company. Signaturefd LLC bought a new stake in shares of International Game Technology during the 3rd quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of International Game Technology during the 2nd quarter worth approximately $31,000. Blue Trust Inc. bought a new stake in shares of International Game Technology during the 2nd quarter worth approximately $44,000. Hexagon Capital Partners LLC raised its stake in shares of International Game Technology by 1,633.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock worth $45,000 after purchasing an additional 2,091 shares in the last quarter. Finally, CWM LLC raised its stake in shares of International Game Technology by 156.7% during the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after purchasing an additional 1,417 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Price Performance

International Game Technology stock opened at $19.23 on Monday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 31.98 and a beta of 1.96. International Game Technology has a 1 year low of $18.56 and a 1 year high of $28.82. The business has a 50-day moving average of $20.74 and a 200-day moving average of $20.89. 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 posted its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). The company 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%. International Game Technology’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.52 earnings per share. On average, equities analysts anticipate 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 will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is currently 133.33%.

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.