International Game Technology (NYSE:IGT) Sets New 52-Week Low – What’s Next?

International Game Technology PLC (NYSE:IGT) hit a new 52-week low during trading on Monday . The stock traded as low as $18.52 and last traded at $18.52, with a volume of 1050 shares. The stock had previously closed at $18.70.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded 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 assigned a buy rating to the stock. Based on data from MarketBeat, International Game Technology has a consensus rating of “Moderate Buy” and an average target price of $28.67.

International Game Technology Trading Down 0.1 %

The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock has a 50-day moving average price of $19.99 and a 200-day moving average price of $20.79. The stock has a market cap of $3.57 billion, a P/E ratio of 29.90 and a beta of 1.91.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. During the same quarter last year, the business posted $0.52 EPS. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities research analysts expect that International Game Technology PLC will post 1 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Tuesday, November 26th. International Game Technology’s payout ratio is presently 133.33%.

Institutional Investors Weigh In On International Game Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC bought a new position in shares of International Game Technology in the third quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in International Game Technology during the 2nd quarter valued at about $31,000. Blue Trust Inc. bought a new position in shares of International Game Technology during the second quarter valued at $44,000. Industrial Alliance Investment Management Inc. grew its stake in shares of International Game Technology by 100.9% in the second quarter. Industrial Alliance Investment Management Inc. now owns 2,310 shares of the company’s stock worth $47,000 after acquiring an additional 1,160 shares during the period. Finally, CWM LLC boosted its stake in shares of International Game Technology by 156.7% in the 2nd quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after buying an additional 1,417 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

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.