International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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. It also designs, develops, assembles, and provides cabinets, games, systems, and software for the gaming market, as well as offers gaming management systems for casino management, customer relationship management, patron management, and server-based gaming. In addition, the company provides video lottery terminals (VLT), VLT central systems, and VLT games. Further, it offers digital gaming and betting; sports betting; and technology and management services. Additionally, the company provides digital gaming products and services, including blackjack, roulette, slot games, poker, bingo, and other casino card games; social casino content; and remote game server, as well as iGaming systems and digital platforms that offer player account management, advanced marketing and analytical, and payment system services. It processes commercial transactions, such as prepaid cellular telephone recharges, bill payments, e-vouchers and retail-based programs, electronic tax payments, prepaid card recharges, and stamp duty and money transfer services. The company was formerly known as GTECH S.p.A. and changed its name to International Game Technology PLC in April 2015. The company was founded in 2014 and is headquartered in London, the United Kingdom. International Game Technology PLC is a subsidiary of De Agostini S.p.A.
International Game Technology Price Performance
Shares of NYSE:IGT traded down $0.53 during midday trading on Wednesday, hitting $21.56. The stock had a trading volume of 966,432 shares, compared to its average volume of 1,916,108. The company's 50-day moving average price is $19.42 and its 200-day moving average price is $22.55. The company has a market capitalization of $4.39 billion, a P/E ratio of 27.91 and a beta of 1.83. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 3.53. International Game Technology has a fifty-two week low of $16.46 and a fifty-two week high of $32.95.
International Game Technology Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 30th. Stockholders of record on Tuesday, August 16th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, August 15th. International Game Technology's payout ratio is presently 103.90%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on the stock. StockNews.com upgraded shares of International Game Technology from a "hold" rating to a "buy" rating in a research note on Tuesday. Stifel Nicolaus dropped their price objective on shares of International Game Technology from $36.00 to $26.00 in a research note on Monday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of International Game Technology from $35.00 to $30.00 in a research note on Wednesday, August 3rd. Truist Financial dropped their price objective on shares of International Game Technology from $36.00 to $30.00 and set a "buy" rating for the company in a research note on Wednesday, July 20th. Finally, Jefferies Financial Group upgraded shares of International Game Technology from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $30.00 to $26.00 in a research note on Thursday, May 12th. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $35.00.