International Game Technology (NYSE:IGT) Hits New 52-Week Low - Time to Sell?

International Game Technology PLC (NYSE:IGT - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $16.34 and last traded at $16.38, with a volume of 17243 shares traded. The stock had previously closed at $16.46.

Wall Street Analysts Forecast Growth

IGT has been the topic of several recent analyst reports. Truist Financial decreased their price target on International Game Technology from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Tuesday, January 14th. StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a research note on Tuesday, March 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, International Game Technology currently has a consensus rating of "Moderate Buy" and an average price target of $28.25.

International Game Technology Stock Down 2.0 %

The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 26.57 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. The firm's 50-day simple moving average is $17.22 and its two-hundred day simple moving average is $18.74.

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International Game Technology (NYSE:IGT - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates 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 quarterly revenue was down 4.4% on a year-over-year basis. During the same period last year, the business posted $0.56 earnings per share. On average, sell-side analysts expect that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors 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 dividend yield of 5.02%. The ex-dividend date was Tuesday, March 11th. International Game Technology's dividend payout ratio (DPR) is 46.78%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology in the fourth quarter valued at about $45,000. Sterling Capital Management LLC grew its position in shares of International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after buying an additional 2,770 shares during the period. Quarry LP increased its stake in shares of International Game Technology by 103.9% in the 4th quarter. Quarry LP now owns 6,185 shares of the company's stock valued at $109,000 after acquiring an additional 3,151 shares during the last quarter. Cibc World Markets Corp acquired a new stake in shares of International Game Technology in the 4th quarter valued at approximately $188,000. Finally, Summit Investment Advisors Inc. boosted its stake in International Game Technology by 5.8% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock worth $210,000 after acquiring an additional 655 shares during the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

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.