International Game Technology (NYSE:IGT) Sets New 12-Month Low at $19.96

Shares of International Game Technology PLC (NYSE:IGT - Get Free Report) hit a new 52-week low during mid-day trading on Friday . The company traded as low as $19.96 and last traded at $19.98, with a volume of 1171697 shares trading hands. The stock had previously closed at $20.80.

Wall Street Analyst Weigh In

Several research firms recently weighed in on IGT. Stifel Nicolaus reissued a "hold" rating and set a $26.00 price target (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. StockNews.com raised International Game Technology from a "buy" rating to a "strong-buy" rating in a research report on Wednesday, April 3rd. B. Riley started coverage on shares of International Game Technology in a research note on Friday, April 5th. They set a "buy" rating and a $30.00 target price on the stock. Jefferies Financial Group reaffirmed a "hold" rating and set a $29.00 price target (down previously from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Finally, Argus reduced their price objective on shares of International Game Technology from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $31.33.

International Game Technology Trading Down 4.0 %

The stock's 50 day moving average price is $23.76 and its 200-day moving average price is $26.27. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The stock has a market capitalization of $3.98 billion, a P/E ratio of 26.28 and a beta of 1.94.

International Game Technology (NYSE:IGT - Get Free Report) last issued its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.11. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a net margin of 3.62% and a return on equity of 21.10%. The company's quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.40 EPS. As a group, equities research analysts expect that International Game Technology PLC will post 1.46 earnings per share for the current year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 4.01%. International Game Technology's dividend payout ratio is currently 105.26%.

Institutional Trading of International Game Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in IGT. Huntington National Bank boosted its position in shares of International Game Technology by 113.2% during the 3rd quarter. Huntington National Bank now owns 921 shares of the company's stock worth $28,000 after purchasing an additional 489 shares during the period. Parkside Financial Bank & Trust grew its position in International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company's stock valued at $29,000 after acquiring an additional 534 shares in the last quarter. CWM LLC increased its stake in International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company's stock worth $27,000 after purchasing an additional 561 shares during the period. Captrust Financial Advisors lifted its position in shares of International Game Technology by 9.8% during the second quarter. Captrust Financial Advisors now owns 6,582 shares of the company's stock worth $122,000 after purchasing an additional 586 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of International Game Technology by 4.2% in the third quarter. Amalgamated Bank now owns 16,766 shares of the company's stock valued at $508,000 after purchasing an additional 682 shares during the period. Institutional investors and hedge funds own 44.33% of the company's stock.

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.