International Game Technology PLC to Issue Quarterly Dividend of $0.20 (NYSE:IGT)

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Stockholders of record on Tuesday, November 26th will be given a dividend of 0.20 per share on Tuesday, December 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 26th.

International Game Technology has increased its dividend payment by an average of 58.7% per year over the last three years. International Game Technology has a payout ratio of 69.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Game Technology to earn $1.20 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 66.7%.

International Game Technology Price Performance

IGT opened at $19.24 on Monday. The firm has a market cap of $3.83 billion, a PE ratio of 32.07 and a beta of 1.96. The stock has a 50-day moving average price of $20.69 and a 200-day moving average price of $20.89. International Game Technology has a 1 year low of $18.56 and a 1 year high of $28.82. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. During the same period last year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. Sell-side analysts predict that International Game Technology will post 1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IGT has been the topic of several recent analyst reports. Stifel Nicolaus increased their target price on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

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.