Brokerages Set International Game Technology PLC (NYSE:IGT) PT at $28.60

Shares of International Game Technology PLC (NYSE:IGT) have earned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $28.60.

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

Institutional Trading of International Game Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC increased its holdings in International Game Technology by 49.1% in the 3rd quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after purchasing an additional 96,019 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of International Game Technology by 180.1% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company’s stock worth $638,000 after buying an additional 19,247 shares during the period. Zacks Investment Management purchased a new position in shares of International Game Technology during the third quarter worth $645,000. State Street Corp raised its holdings in shares of International Game Technology by 1.0% in the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock valued at $44,800,000 after buying an additional 21,295 shares during the period. Finally, Stifel Financial Corp raised its holdings in shares of International Game Technology by 22.2% in the 3rd quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock valued at $1,197,000 after buying an additional 10,193 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Down 0.2 %

Shares of NYSE IGT opened at $17.72 on Tuesday. The stock has a market cap of $3.53 billion, a PE ratio of 29.53 and a beta of 1.92. 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 has a 12-month low of $16.83 and a 12-month high of $27.27. The company has a 50-day moving average of $18.89 and a 200 day moving average of $20.40.

International Game Technology (NYSE:IGT) last posted 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). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. During the same quarter last year, the company earned $0.52 earnings per share. International Game Technology’s revenue for the quarter was down 2.3% on a year-over-year basis. As a group, sell-side analysts predict that International Game Technology will post 1 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a $0.20 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 4.51%. International Game Technology’s payout ratio is 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.