International Game Technology PLC (NYSE:IGT) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of International Game Technology PLC (NYSE:IGT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the five brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.00.

A number of research firms have commented on IGT. StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Truist Financial dropped 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.

Hedge Funds Weigh In On International Game Technology

A number of hedge funds have recently added to or reduced their stakes in the stock. Signaturefd LLC bought a new position in International Game Technology during the 3rd quarter valued at $26,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology in the 4th quarter worth approximately $45,000. Hexagon Capital Partners LLC grew its holdings in shares of International Game Technology by 26.1% in the third quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company's stock valued at $60,000 after acquiring an additional 579 shares in the last quarter. Point72 DIFC Ltd increased its position in shares of International Game Technology by 7.9% during the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company's stock valued at $274,000 after acquiring an additional 947 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in International Game Technology by 7.2% during the third quarter. Victory Capital Management Inc. now owns 14,897 shares of the company's stock worth $317,000 after acquiring an additional 996 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Trading Up 1.2 %

Shares of NYSE:IGT traded up $0.20 during midday trading on Friday, reaching $16.90. The company's stock had a trading volume of 1,480,911 shares, compared to its average volume of 1,387,132. International Game Technology has a fifty-two week low of $16.42 and a fifty-two week high of $27.27. 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 $17.91 and a two-hundred day moving average price of $20.02. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of 28.16 and a beta of 1.91.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly 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 business had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.52 earnings per share. As a group, analysts forecast that International Game Technology will post 1.23 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.74%. International Game Technology's dividend payout ratio is presently 133.34%.

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.