International Game Technology (NYSE:IGT) Hits New 52-Week Low – Time to Sell?

International Game Technology PLC (NYSE:IGT)’s share price reached a new 52-week low on Friday . The company traded as low as $16.34 and last traded at $16.38, with a volume of 17243 shares traded. The stock had previously closed at $16.46.

Analyst Ratings Changes

Several brokerages have weighed in on IGT. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial dropped their price objective on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.25.

International Game Technology Stock Performance

The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The firm has a 50-day moving average price of $17.26 and a two-hundred day moving average price of $18.85. The firm has a market cap of $3.28 billion, a PE ratio of 27.15 and a beta of 1.86.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share 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 firm had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Research analysts forecast that International Game Technology PLC will post 1.24 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Tuesday, March 11th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.93%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s payout ratio is presently 46.78%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Mackenzie Financial Corp raised its holdings in shares of International Game Technology by 15.3% in the 4th quarter. Mackenzie Financial Corp now owns 31,032 shares of the company’s stock valued at $548,000 after buying an additional 4,124 shares during the period. PharVision Advisers LLC purchased a new stake in International Game Technology during the fourth quarter worth about $427,000. Two Sigma Investments LP acquired a new stake in shares of International Game Technology during the fourth quarter worth about $238,000. Two Sigma Advisers LP boosted its stake in shares of International Game Technology by 123.8% in the fourth quarter. Two Sigma Advisers LP now owns 47,900 shares of the company’s stock valued at $846,000 after purchasing an additional 26,500 shares during the period. Finally, Teza Capital Management LLC acquired a new position in shares of International Game Technology in the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

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.