International Game Technology (NYSE:IGT) Downgraded by StockNews.com to “Buy”

StockNews.com lowered shares of International Game Technology (NYSE:IGTFree Report) from a strong-buy rating to a buy rating in a report released on Monday morning.

IGT has been the subject of a number of other research reports. Stifel Nicolaus reiterated a hold rating and issued a $26.00 price target (down previously from $30.00) on shares of International Game Technology in a research note on Wednesday, March 13th. B. Riley assumed coverage on International Game Technology in a research report on Friday, April 5th. They set a buy rating and a $30.00 target price for the company. Argus decreased their target price on International Game Technology from $30.00 to $27.00 and set a buy rating on the stock in a research note on Wednesday, March 13th. Finally, Truist Financial dropped their price target on International Game Technology from $28.00 to $26.00 and set a hold rating for the company in a research note on Tuesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $31.00.

Read Our Latest Analysis on International Game Technology

International Game Technology Trading Down 0.4 %

Shares of NYSE:IGT opened at $20.02 on Monday. The stock has a 50 day moving average of $21.36 and a 200 day moving average of $24.78. The company has a market cap of $3.99 billion, a PE ratio of 26.34 and a beta of 1.94. International Game Technology has a 12-month low of $19.48 and a 12-month high of $33.99. The company has a current ratio of 1.26, a quick ratio of 1.07 and a debt-to-equity ratio of 2.90.

International Game Technology (NYSE:IGTGet Free Report) last issued its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. The business 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 revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.40 earnings per share. As a group, equities research analysts expect that International Game Technology will post 1.46 EPS for the current year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 9th. Stockholders of record on Tuesday, March 26th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.00%. International Game Technology’s dividend payout ratio is currently 105.26%.

Institutional Investors Weigh In On International Game Technology

Large investors have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new stake in shares of International Game Technology in the third quarter worth approximately $164,000. Allworth Financial LP raised its holdings in shares of International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after purchasing an additional 847 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of International Game Technology by 72.4% in the 3rd quarter. Los Angeles Capital Management LLC now owns 35,856 shares of the company’s stock worth $1,087,000 after purchasing an additional 15,052 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of International Game Technology in the 3rd quarter worth approximately $768,000. Finally, Barclays PLC boosted its stake in shares of International Game Technology by 24.8% during the third quarter. Barclays PLC now owns 105,878 shares of the company’s stock valued at $3,212,000 after purchasing an additional 21,029 shares in the last quarter. Institutional investors own 44.33% of the company’s stock.

International Game Technology Company Profile

(Get Free Report)

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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Analyst Recommendations for International Game Technology (NYSE:IGT)

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