International Game Technology PLC (NYSE:IGT) Receives $28.67 Consensus Target Price from Brokerages

Shares of International Game Technology PLC (NYSE:IGT - Get Free Report) have received a consensus rating of "Moderate Buy" from the six brokerages that are covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $28.67.

Separately, StockNews.com upgraded International Game Technology from a "hold" rating to a "buy" rating in a report on Friday, November 8th.

Institutional Trading of International Game Technology

A number of institutional investors have recently bought and sold shares of the company. CWM LLC lifted its stake in International Game Technology by 156.7% in the second quarter. CWM LLC now owns 2,321 shares of the company's stock valued at $47,000 after acquiring an additional 1,417 shares during the last quarter. SG Americas Securities LLC boosted its holdings in International Game Technology by 178.7% in the second quarter. SG Americas Securities LLC now owns 23,986 shares of the company's stock worth $491,000 after purchasing an additional 15,379 shares in the last quarter. Blue Trust Inc. acquired a new position in International Game Technology during the second quarter worth $44,000. Fifth Third Wealth Advisors LLC increased its position in International Game Technology by 23.4% during the second quarter. Fifth Third Wealth Advisors LLC now owns 18,500 shares of the company's stock worth $379,000 after buying an additional 3,510 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in International Game Technology by 46.8% during the second quarter. Allspring Global Investments Holdings LLC now owns 25,938 shares of the company's stock valued at $531,000 after buying an additional 8,269 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company's stock.

International Game Technology Trading Down 0.5 %

IGT stock traded down $0.09 during mid-day trading on Friday, reaching $18.70. 751,972 shares of the stock traded hands, compared to its average volume of 1,098,557. International Game Technology has a 52-week low of $18.56 and a 52-week high of $28.82. The stock's fifty day moving average is $20.13 and its 200-day moving average is $20.80. The company has a market cap of $3.72 billion, a P/E ratio of 31.30 and a beta of 1.91. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $587.00 million during the quarter, compared to analysts' expectations of $591.50 million. During the same quarter last year, the company posted $0.52 EPS. The firm's revenue was down 2.3% compared to the same quarter last year. As a group, sell-side analysts expect that International Game Technology will post 1 earnings per share for the current year.

International Game Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Tuesday, November 26th. International Game Technology's dividend payout ratio (DPR) is presently 133.34%.

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.