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

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be given a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, March 11th.

International Game Technology has increased its dividend payment by an average of 58.7% per year over the last three years. International Game Technology has a dividend payout ratio of 70.2% meaning 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 2.3 %

Shares of NYSE:IGT traded up $0.41 during midday trading on Wednesday, hitting $18.43. 1,662,140 shares of the stock were exchanged, compared to its average volume of 1,400,077. The company has a market capitalization of $3.67 billion, a PE ratio of 30.71 and a beta of 1.91. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a 52-week low of $16.42 and a 52-week high of $27.27. The business’s fifty day simple moving average is $17.30 and its two-hundred day simple moving average is $19.52.

International Game Technology (NYSE:IGT) last released its earnings results 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 business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period last year, the business earned $0.56 EPS. As a group, research analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IGT has been the subject of a number of analyst reports. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Truist Financial cut their target price 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target 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.