International Game Technology PLC (NYSE:IGT) Plans $0.20 Quarterly Dividend

International Game Technology PLC (NYSE:IGT - Get Free Report) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.52%. The ex-dividend date is Tuesday, March 11th.

International Game Technology has raised its dividend by an average of 58.7% per year over the last three years. International Game Technology has a dividend payout ratio of 55.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect International Game Technology to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 64.0%.

International Game Technology Stock Down 1.3 %

IGT stock traded down $0.23 during midday trading on Friday, reaching $17.70. 1,431,961 shares of the company were exchanged, compared to its average volume of 1,443,409. International Game Technology has a 1-year low of $16.42 and a 1-year 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 company has a market cap of $3.52 billion, a price-to-earnings ratio of 29.49 and a beta of 1.91. The stock's 50-day simple moving average is $17.35 and its 200 day simple moving average is $19.45.

International Game Technology (NYSE:IGT - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the firm earned $0.56 earnings per share. On average, equities analysts forecast that International Game Technology will post 1.24 earnings per share for the current year.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on IGT shares. Truist Financial cut their price objective on shares of 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 downgraded International Game Technology from a "buy" rating to a "hold" rating in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $28.00.

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.