International Game Technology PLC (NYSE:IGT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of International Game Technology PLC (NYSE:IGT) have been given a consensus recommendation of “Moderate Buy” by the five research firms that are covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $28.60.

Separately, StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

Institutional Trading of International Game Technology

Hedge funds have recently added to or reduced their stakes in the company. Solel Partners LP bought a new position in International Game Technology during the 2nd quarter worth $43,478,000. Long Pond Capital LP acquired a new stake in International Game Technology in the 2nd quarter worth about $32,053,000. Massachusetts Financial Services Co. MA boosted its holdings in International Game Technology by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock valued at $158,431,000 after purchasing an additional 1,169,999 shares during the period. Deprince Race & Zollo Inc. grew its position in shares of International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock worth $47,343,000 after purchasing an additional 995,570 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in shares of International Game Technology by 80.8% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after purchasing an additional 537,330 shares during the period. 44.33% of the stock is owned by institutional investors and hedge funds.

International Game Technology Stock Down 1.4 %

IGT stock opened at $17.46 on Tuesday. The company has a market cap of $3.48 billion, a price-to-earnings ratio of 29.10 and a beta of 1.92. International Game Technology has a twelve month low of $16.83 and a twelve month high of $27.27. The business has a 50 day moving average price of $18.83 and a two-hundred day moving average price of $20.38. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $591.50 million. During the same period last year, the company posted $0.52 earnings per share. The business’s revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that International Game Technology will post 1 EPS for the current fiscal year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 4.58%. International Game Technology’s dividend payout ratio (DPR) is presently 133.33%.

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.