International Game Technology PLC (NYSE:IGT) has been assigned an average rating of “Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $33.75.
A number of equities research analysts have commented on IGT shares. ValuEngine upgraded International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. Bank of America set a $32.00 price target on International Game Technology and gave the company a “buy” rating in a research note on Thursday, March 8th. Finally, Jefferies Financial Group set a $34.00 price objective on International Game Technology and gave the stock a “buy” rating in a research note on Friday, March 9th.
Several large investors have recently made changes to their positions in IGT. Victory Capital Management Inc. purchased a new position in shares of International Game Technology in the fourth quarter worth about $13,674,000. American Century Companies Inc. purchased a new position in shares of International Game Technology in the fourth quarter worth about $12,540,000. Sigma Planning Corp raised its stake in shares of International Game Technology by 97.2% in the fourth quarter. Sigma Planning Corp now owns 17,160 shares of the company’s stock worth $455,000 after purchasing an additional 8,458 shares during the last quarter. Sei Investments Co. raised its stake in shares of International Game Technology by 118.7% in the fourth quarter. Sei Investments Co. now owns 268,556 shares of the company’s stock worth $7,120,000 after purchasing an additional 145,780 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of International Game Technology by 107.3% in the fourth quarter. Wells Fargo & Company MN now owns 228,161 shares of the company’s stock worth $6,049,000 after purchasing an additional 118,122 shares during the last quarter. Hedge funds and other institutional investors own 40.19% of the company’s stock.
International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, May 22nd. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.12). International Game Technology had a negative net margin of 22.37% and a positive return on equity of 6.93%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 4.7% compared to the same quarter last year. sell-side analysts predict that International Game Technology will post 1.35 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 19th. Stockholders of record on Tuesday, June 5th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Monday, June 4th. International Game Technology’s payout ratio is 52.63%.
About International Game Technology
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.
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