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

International Game Technology PLC (NYSE:IGT - Get Free Report) has received an average recommendation of "Moderate Buy" from the six research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.67.

A number of research firms have recently weighed in 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. Stifel Nicolaus raised their price objective on International Game Technology from $26.00 to $30.00 and gave the company a "buy" rating in a research note on Wednesday, July 31st. Finally, B. Riley reiterated a "buy" rating and issued a $30.00 target price on shares of International Game Technology in a report on Friday, July 26th.

International Game Technology Stock Down 1.7 %

IGT traded down $0.33 during trading on Monday, hitting $19.19. 1,363,545 shares of the company's stock traded hands, compared to its average volume of 1,114,337. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 32.52 and a beta of 1.96. The company's 50 day simple moving average is $20.94 and its two-hundred day simple moving average is $20.93. International Game Technology has a 12-month low of $18.90 and a 12-month high of $28.82. The company has a current ratio of 2.36, a quick ratio of 0.71 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings data 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 return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $587.00 million during the quarter, compared to analysts' expectations of $591.50 million. During the same period in the previous year, the business posted $0.52 EPS. The business's quarterly revenue was down 2.3% compared to the same quarter last year. Analysts predict that International Game Technology will post 1.16 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.17%. International Game Technology's payout ratio is 133.33%.

Institutional Investors Weigh In On International Game Technology

Large investors have recently added to or reduced their stakes in the business. Signaturefd LLC acquired a new stake in International Game Technology in the 3rd quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of International Game Technology in the 2nd quarter worth $31,000. Blue Trust Inc. purchased a new stake in shares of International Game Technology in the second quarter valued at about $44,000. Hexagon Capital Partners LLC raised its holdings in International Game Technology by 1,633.6% during the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company's stock worth $45,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in International Game Technology by 100.9% in the 2nd quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company's stock valued at $47,000 after purchasing an additional 1,160 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.

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.