International Game Technology (NYSE:IGT) Given Average Recommendation of "Moderate Buy" by Brokerages

International Game Technology (NYSE:IGT - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.25.

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

Institutional Trading of International Game Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC raised its position in International Game Technology by 61.1% in the first quarter. CWM LLC now owns 2,460 shares of the company's stock valued at $40,000 after purchasing an additional 933 shares during the last quarter. Knott David M Jr acquired a new position in shares of International Game Technology during the first quarter valued at about $41,000. Sterling Capital Management LLC increased its holdings in International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company's stock worth $55,000 after purchasing an additional 2,770 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in International Game Technology by 71.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,511 shares of the company's stock valued at $73,000 after acquiring an additional 1,879 shares in the last quarter. Finally, Inlight Wealth Management LLC bought a new position in shares of International Game Technology during the 1st quarter worth approximately $85,000. Institutional investors own 44.33% of the company's stock.

International Game Technology Price Performance

Shares of IGT stock traded up $0.18 during mid-day trading on Monday, hitting $15.26. 2,226,205 shares of the stock were exchanged, compared to its average volume of 1,323,687. The company has a market cap of $3.08 billion, a PE ratio of 23.20 and a beta of 1.53. International Game Technology has a 52-week low of $13.81 and a 52-week high of $24.13. The firm has a fifty day moving average of $15.83 and a 200 day moving average of $16.82. The company has a quick ratio of 2.43, a current ratio of 2.48 and a debt-to-equity ratio of 2.74.

International Game Technology (NYSE:IGT - Get Free Report) last announced 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 analyst estimates of $630.30 million. International Game Technology had a return on equity of 7.86% and a net margin of 11.46%. The firm's quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.46 EPS. Research analysts anticipate that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

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

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.