International Game Technology (NYSE:IGT) Trading 3.1% Higher

International Game Technology PLC (NYSE:IGT - Get Free Report) traded up 3.1% during mid-day trading on Tuesday . The company traded as high as $20.96 and last traded at $20.96. 424,714 shares were traded during trading, a decline of 63% from the average session volume of 1,160,425 shares. The stock had previously closed at $20.32.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on IGT shares. B. Riley started coverage on shares of International Game Technology in a research report on Friday, April 5th. They issued a "buy" rating and a $30.00 target price on the stock. StockNews.com cut shares of International Game Technology from a "strong-buy" rating to a "buy" rating in a research report on Monday, May 13th. Argus decreased their price objective on shares of International Game Technology from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, March 13th. Susquehanna dropped their price objective on shares of International Game Technology from $40.00 to $33.00 and set a "positive" rating on the stock in a research note on Thursday, May 16th. Finally, Stifel Nicolaus reissued a "hold" rating and set a $24.00 price objective on shares of International Game Technology in a research note on Wednesday, May 15th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, International Game Technology has a consensus rating of "Moderate Buy" and a consensus target price of $27.67.

International Game Technology Trading Up 2.2 %

The firm has a market capitalization of $4.13 billion, a PE ratio of 19.74 and a beta of 1.94. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59. The stock's fifty day simple moving average is $20.82 and its 200 day simple moving average is $24.53.

International Game Technology (NYSE:IGT - Get Free Report) last announced its earnings results on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.17. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.03 billion. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. The firm's revenue was up .7% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 earnings per share. On average, sell-side analysts predict that International Game Technology PLC will post 1.53 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.85%. International Game Technology's dividend payout ratio (DPR) is presently 76.19%.

Hedge Funds Weigh In On International Game Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Venturi Wealth Management LLC bought a new position in shares of International Game Technology during the fourth quarter worth $25,000. Huntington National Bank lifted its position in International Game Technology by 113.2% during the third quarter. Huntington National Bank now owns 921 shares of the company's stock valued at $28,000 after purchasing an additional 489 shares during the last quarter. Allworth Financial LP lifted its position in International Game Technology by 770.0% during the third quarter. Allworth Financial LP now owns 957 shares of the company's stock valued at $29,000 after purchasing an additional 847 shares during the last quarter. Highlander Capital Management LLC bought a new position in International Game Technology during the fourth quarter valued at $27,000. Finally, VisionPoint Advisory Group LLC bought a new position in International Game Technology during the fourth quarter valued at $38,000. 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.

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