International Game Technology (NYSE:IGT) Price Target Lowered to $22.00 at Stifel Nicolaus

International Game Technology (NYSE:IGT - Free Report) had its price target cut by Stifel Nicolaus from $26.00 to $22.00 in a report issued on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also issued reports on IGT. StockNews.com lowered shares of International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Truist Financial lowered their target price on shares of International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, International Game Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.75.

International Game Technology Trading Up 0.3 %

IGT traded up $0.05 during trading on Tuesday, reaching $16.37. 619,201 shares of the company's stock were exchanged, compared to its average volume of 1,173,853. The firm has a fifty day moving average price of $16.66 and a two-hundred day moving average price of $17.99. The stock has a market capitalization of $3.31 billion, a PE ratio of 27.28 and a beta of 1.66. International Game Technology has a one year low of $13.81 and a one year high of $24.13. 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 posted its quarterly earnings data 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 company had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business's revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 earnings per share. As a group, equities research analysts forecast that International Game Technology will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is 46.78%.

Institutional Trading of International Game Technology

Hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new stake in International Game Technology in the fourth quarter worth $25,616,000. Lazard Asset Management LLC increased its position in International Game Technology by 13.1% in the 4th quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company's stock valued at $192,978,000 after buying an additional 1,267,625 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in International Game Technology in the 4th quarter valued at about $19,453,000. Beryl Capital Management LLC acquired a new position in International Game Technology during the 4th quarter worth approximately $15,213,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in International Game Technology by 10.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company's stock worth $151,495,000 after acquiring an additional 787,543 shares in the last quarter. Institutional investors own 44.33% of the company's stock.

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.