International Game Technology (NYSE:IGT) Hits New 12-Month Low – Should You Sell?

International Game Technology PLC (NYSE:IGT)’s share price reached a new 52-week low on Monday . The stock traded as low as $16.83 and last traded at $16.95, with a volume of 58491 shares changing hands. The stock had previously closed at $17.08.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, International Game Technology has an average rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Up 0.2 %

The stock’s fifty day simple moving average is $19.46 and its 200-day simple moving average is $20.58. The stock has a market cap of $3.41 billion, a P/E ratio of 28.52 and a beta of 1.91. 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 (NYSE:IGT) last issued its quarterly earnings results 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). 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%. The company’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.52 EPS. As a group, research analysts forecast that International Game Technology PLC will post 1 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date was Tuesday, November 26th. International Game Technology’s dividend payout ratio (DPR) is presently 133.34%.

Institutional Trading of International Game Technology

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Solel Partners LP acquired a new stake in International Game Technology in the second quarter valued at about $43,478,000. Long Pond Capital LP bought a new position in shares of International Game Technology in the second quarter worth about $32,053,000. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $158,431,000 after purchasing an additional 1,169,999 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after purchasing an additional 995,570 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of International Game Technology by 80.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock valued at $25,616,000 after purchasing an additional 537,330 shares during the last quarter. 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.