International Game Technology PLC (NYSE:IGT) Receives $28.00 Consensus PT from Brokerages

International Game Technology PLC (NYSE:IGT) has been assigned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $28.00.

Several equities analysts recently weighed in on the company. Truist Financial lowered their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

International Game Technology Stock Performance

Shares of IGT opened at $16.64 on Friday. International Game Technology has a one year low of $16.42 and a one year high of $27.27. The business has a fifty day moving average of $17.76 and a 200 day moving average of $19.95. 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 firm has a market capitalization of $3.31 billion, a P/E ratio of 27.73 and a beta of 1.91.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). The business had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. As a group, sell-side analysts anticipate that International Game Technology will post 1.23 EPS for the current year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 4.81%. The ex-dividend date was Tuesday, November 26th. International Game Technology’s dividend payout ratio is currently 133.34%.

Institutional Trading of International Game Technology

A number of institutional investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC purchased a new stake in shares of International Game Technology in the third quarter valued at $1,209,000. Massachusetts Financial Services Co. MA raised its position in International Game Technology by 0.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after purchasing an additional 47,442 shares during the period. Qsemble Capital Management LP raised its position in International Game Technology by 230.0% in the 3rd quarter. Qsemble Capital Management LP now owns 42,941 shares of the company’s stock worth $915,000 after purchasing an additional 29,929 shares during the period. Zacks Investment Management bought a new stake in International Game Technology in the third quarter worth about $645,000. Finally, Stifel Financial Corp boosted its position in shares of International Game Technology by 22.2% during the third quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock valued at $1,197,000 after buying an additional 10,193 shares during the period. 44.33% of the stock is currently owned by institutional investors.

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.