International Game Technology PLC (NYSE:IGT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

International Game Technology PLC (NYSE:IGT) has earned an average rating of “Moderate Buy” from the five research firms that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $28.00.

IGT has been the subject of a number of research analyst reports. StockNews.com cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Wednesday, February 26th. Truist Financial dropped their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC purchased a new position in International Game Technology during the third quarter worth $26,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of International Game Technology during the fourth quarter valued at $45,000. Sterling Capital Management LLC increased its position in International Game Technology by 782.5% during the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock worth $55,000 after purchasing an additional 2,770 shares in the last quarter. Quarry LP raised its stake in International Game Technology by 103.9% in the 4th quarter. Quarry LP now owns 6,185 shares of the company’s stock valued at $109,000 after purchasing an additional 3,151 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new position in International Game Technology in the 4th quarter valued at about $188,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Stock Down 1.8 %

IGT opened at $17.42 on Wednesday. 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 has a 12 month low of $16.42 and a 12 month high of $25.63. The stock has a market capitalization of $3.52 billion, a P/E ratio of 29.03 and a beta of 1.91. The business has a 50 day simple moving average of $17.37 and a 200-day simple moving average of $19.39.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. During the same period last year, the business posted $0.56 EPS. International Game Technology’s revenue was down 4.4% compared to the same quarter last year. On average, equities analysts anticipate that International Game Technology will post 1.24 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th will be given a $0.20 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 4.59%. International Game Technology’s dividend payout ratio is presently 46.78%.

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.