International Game Technology (NYSE:IGT) Given New $22.00 Price Target at Stifel Nicolaus

International Game Technology (NYSE:IGT - Free Report) had its target price cut by Stifel Nicolaus from $26.00 to $22.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

IGT has been the subject of a number of other reports. Truist Financial dropped their target price on International Game Technology from $23.00 to $20.00 and set a "hold" rating for the company in a report on Tuesday, January 14th. StockNews.com cut International Game Technology from a "buy" rating to a "hold" rating in a report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $25.75.

International Game Technology Stock Performance

Shares of NYSE:IGT traded up $0.05 during trading on Tuesday, hitting $16.37. 619,201 shares of the stock were exchanged, compared to its average volume of 1,174,608. The company has a market capitalization of $3.31 billion, a price-to-earnings ratio of 27.28 and a beta of 1.66. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a 1-year low of $13.81 and a 1-year high of $24.13. The company's fifty day simple moving average is $16.66 and its 200-day simple moving average is $17.97.

International Game Technology (NYSE:IGT - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company's quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $0.56 EPS. Sell-side analysts expect that International Game Technology will post 1.24 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.89%. The ex-dividend date of this dividend was Tuesday, March 11th. International Game Technology's payout ratio is presently 46.78%.

Institutional Trading of International Game Technology

Several hedge funds have recently modified their holdings of IGT. Victory Capital Management Inc. raised its position in shares of International Game Technology by 4.2% during 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 during the last quarter. Summit Investment Advisors Inc. boosted its stake in shares of International Game Technology by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company's stock valued at $210,000 after purchasing an additional 655 shares during the last quarter. Van ECK Associates Corp grew its position in shares of International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company's stock worth $419,000 after buying an additional 1,145 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in International Game Technology by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company's stock valued at $990,000 after buying an additional 1,442 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings 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 worth $73,000 after acquiring an additional 1,879 shares during the period. 44.33% of the stock is owned by institutional investors.

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.