International Game Technology PLC (NYSE:IGT) Receives $23.25 Consensus Target Price from Analysts

International Game Technology PLC (NYSE:IGT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the five analysts that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $23.25.

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

Institutional Investors Weigh In On International Game Technology

Hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its holdings in International Game Technology by 4.2% in the fourth quarter. Victory Capital Management Inc. now owns 15,519 shares of the company's stock worth $274,000 after acquiring an additional 622 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of International Game Technology by 5.8% in the fourth quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock worth $210,000 after acquiring an additional 655 shares during the period. Cerity Partners LLC boosted its stake in International Game Technology by 2.3% during the first quarter. Cerity Partners LLC now owns 31,336 shares of the company's stock valued at $510,000 after buying an additional 715 shares during the period. Linden Thomas Advisory Services LLC raised its position in International Game Technology by 4.0% during the first quarter. Linden Thomas Advisory Services LLC now owns 22,895 shares of the company's stock valued at $372,000 after purchasing an additional 891 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of International Game Technology by 61.1% in the first quarter. CWM LLC now owns 2,460 shares of the company's stock worth $40,000 after buying an additional 933 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Stock Up 0.4%

International Game Technology stock traded up $0.06 during midday trading on Thursday, reaching $15.26. The company's stock had a trading volume of 2,194,158 shares, compared to its average volume of 1,267,758. International Game Technology has a 52-week low of $13.81 and a 52-week high of $24.13. The stock has a market capitalization of $3.08 billion, a P/E ratio of 25.43 and a beta of 1.61. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The stock's 50-day simple moving average is $16.21 and its 200-day simple moving average is $17.39.

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

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology's payout ratio is presently 55.56%.

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.