International Game Technology PLC (NYSE:IGT - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $15.36 and last traded at $15.36, with a volume of 412875 shares. The stock had previously closed at $16.54.
Analyst Upgrades and Downgrades
IGT has been the subject of a number of recent analyst reports. Truist Financial lowered their price target on International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a research report on Tuesday, January 14th. StockNews.com raised International Game Technology from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.25.
Get Our Latest Stock Report on IGT
International Game Technology Price Performance
The stock has a market cap of $2.92 billion, a P/E ratio of 24.06 and a beta of 1.66. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The firm has a 50-day moving average price of $17.05 and a 200-day moving average price of $18.51.
International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.10). The firm had revenue of $651.00 million for the quarter, compared to analysts' expectations of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 EPS. On average, analysts forecast that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.
International Game Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 5.54%. The ex-dividend date was Tuesday, March 11th. International Game Technology's payout ratio is 46.78%.
Hedge Funds Weigh In On International Game Technology
Several institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC increased its stake in International Game Technology by 13.1% during the 4th quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company's stock valued at $192,978,000 after purchasing an additional 1,267,625 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in International Game Technology by 10.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock worth $151,495,000 after acquiring an additional 787,543 shares during the last quarter. Solel Partners LP lifted its position in International Game Technology by 14.6% in the 4th quarter. Solel Partners LP now owns 3,058,150 shares of the company's stock valued at $54,007,000 after acquiring an additional 390,726 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of International Game Technology by 3.7% during the fourth quarter. Deprince Race & Zollo Inc. now owns 2,783,234 shares of the company's stock valued at $49,152,000 after buying an additional 98,502 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company's stock valued at $44,800,000 after acquiring an additional 21,295 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors.
International Game Technology Company Profile
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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.
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