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

Shares of International Game Technology PLC (NYSE:IGT - Get Free Report) have received an average recommendation of "Moderate Buy" from the five analysts that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $23.25.

Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reiterated a "buy" rating and set a $20.00 target price (down previously from $22.00) on shares of International Game Technology in a research note on Wednesday, May 21st. Truist Financial decreased their price objective on International Game Technology from $20.00 to $18.00 and set a "hold" rating for the company in a research report on Wednesday, April 23rd. Argus lowered International Game Technology from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 20th. Susquehanna restated a "positive" rating and set a $25.00 price target (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday, May 14th. Finally, Wall Street Zen downgraded International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th.

International Game Technology Stock Up 3.0%

Shares of NYSE IGT traded up $0.46 during mid-day trading on Thursday, reaching $15.75. The company had a trading volume of 591,919 shares, compared to its average volume of 1,558,945. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The firm has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $17.32. The stock has a market cap of $3.18 billion, a P/E ratio of 26.23 and a beta of 1.61. International Game Technology has a 52-week low of $13.81 and a 52-week high of $24.13.

International Game Technology (NYSE:IGT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.05). The firm had revenue of $583.00 million for the quarter, compared to analysts' expectations of $630.30 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company's quarterly revenue was down 11.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. Sell-side analysts predict that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 29th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's dividend payout ratio is presently 55.56%.

Hedge Funds Weigh In On International Game Technology

Large investors have recently modified their holdings of the business. Parallax Volatility Advisers L.P. acquired a new position in International Game Technology during the first quarter worth $395,000. Millennium Management LLC boosted its position in shares of International Game Technology by 109.2% during the 1st quarter. Millennium Management LLC now owns 839,490 shares of the company's stock worth $13,650,000 after purchasing an additional 438,157 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of International Game Technology by 9.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 72,465 shares of the company's stock worth $1,178,000 after purchasing an additional 6,128 shares during the period. AQR Capital Management LLC purchased a new position in shares of International Game Technology in the 1st quarter valued at about $472,000. Finally, Maverick Capital Ltd. lifted its stake in shares of International Game Technology by 144.6% in the first quarter. Maverick Capital Ltd. now owns 43,669 shares of the company's stock valued at $710,000 after purchasing an additional 25,814 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

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.