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

International Game Technology PLC (NYSE:IGT - Get Free Report) has earned an average recommendation of "Moderate Buy" from the five research firms that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $28.00.

IGT has been the subject of several research analyst reports. Truist Financial decreased their target price 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 lowered International Game Technology from a "buy" rating to a "hold" rating in a report on Wednesday.

International Game Technology Stock Performance

Shares of International Game Technology stock traded down $0.23 during trading hours on Wednesday, hitting $17.70. 1,431,961 shares of the company's stock traded hands, compared to its average volume of 1,443,409. International Game Technology has a 12-month low of $16.42 and a 12-month high of $27.27. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 29.49 and a beta of 1.91. The company has a fifty day simple moving average of $17.35 and a 200-day simple moving average of $19.48. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.

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International Game Technology (NYSE:IGT - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million for the quarter, compared to analysts' expectations of $657.84 million. During the same period in the prior year, the business earned $0.56 earnings per share. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. Equities research analysts anticipate that International Game Technology will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.52%. The ex-dividend date is Tuesday, March 11th. International Game Technology's dividend payout ratio (DPR) is currently 46.78%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its holdings in International Game Technology by 15.3% during the 4th quarter. Mackenzie Financial Corp now owns 31,032 shares of the company's stock valued at $548,000 after buying an additional 4,124 shares in the last quarter. PharVision Advisers LLC purchased a new position in International Game Technology during the 4th quarter valued at about $427,000. Two Sigma Investments LP purchased a new position in International Game Technology during the 4th quarter valued at about $238,000. Two Sigma Advisers LP grew its holdings in International Game Technology by 123.8% during the 4th quarter. Two Sigma Advisers LP now owns 47,900 shares of the company's stock valued at $846,000 after buying an additional 26,500 shares in the last quarter. Finally, Teza Capital Management LLC purchased a new position in International Game Technology during the 4th quarter valued at about $354,000. Hedge funds and other institutional investors 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.