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

International Game Technology PLC (NYSE:IGT) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 11th.

International Game Technology has increased its dividend by an average of 58.7% annually over the last three years. International Game Technology has a payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Game Technology to earn $1.25 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 64.0%.

International Game Technology Stock Up 1.8 %

Shares of NYSE:IGT opened at $18.35 on Thursday. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 30.58 and a beta of 1.91. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The business’s 50-day moving average is $17.33 and its 200-day moving average is $19.51. International Game Technology has a 1 year low of $16.42 and a 1 year high of $27.27.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analyst estimates of $657.84 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. Equities research analysts predict that International Game Technology will post 1.24 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IGT. Truist Financial dropped their price objective on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $28.00.

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.