International Game Technology (NYSE:IGT) Trading Up 5%

International Game Technology PLC (NYSE:IGTGet Rating) was up 5% on Wednesday . The company traded as high as $20.04 and last traded at $20.02. Approximately 2,970 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 1,924,107 shares. The stock had previously closed at $19.07.

A number of equities analysts have commented on the company. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Tuesday, May 10th. Jefferies Financial Group raised International Game Technology from a “hold” rating to a “buy” rating and reduced their target price for the company from $30.00 to $26.00 in a report on Thursday, May 12th. Deutsche Bank Aktiengesellschaft reduced their target price on International Game Technology from $39.00 to $37.00 in a report on Wednesday, May 11th. Finally, Credit Suisse Group increased their target price on International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, March 2nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $40.80.

The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt-to-equity ratio of 3.51. The business has a 50-day moving average price of $22.89 and a 200-day moving average price of $25.82. The firm has a market capitalization of $4.17 billion, a PE ratio of 8.95 and a beta of 1.93.

International Game Technology (NYSE:IGTGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.05. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. International Game Technology had a return on equity of 3.35% and a net margin of 11.37%. The business’s revenue was up 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 earnings per share. On average, equities research analysts anticipate that International Game Technology PLC will post 1.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 7th. Investors of record on Tuesday, May 24th will be given a $0.20 dividend. The ex-dividend date is Monday, May 23rd. This represents a $0.80 annualized dividend and a yield of 3.91%. International Game Technology’s payout ratio is 35.09%.

Institutional investors have recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in International Game Technology by 7.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,211 shares of the company’s stock worth $469,000 after acquiring an additional 1,079 shares during the period. 140 Summer Partners LP grew its position in International Game Technology by 164.4% in the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company’s stock worth $73,901,000 after acquiring an additional 1,589,548 shares during the period. Kestra Advisory Services LLC lifted its stake in International Game Technology by 1.8% during the fourth quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company’s stock worth $757,000 after purchasing an additional 459 shares in the last quarter. Lazard Asset Management LLC lifted its stake in International Game Technology by 16.1% during the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company’s stock worth $173,074,000 after purchasing an additional 828,482 shares in the last quarter. Finally, Dark Forest Capital Management LP acquired a new position in International Game Technology during the third quarter worth $54,000. Institutional investors own 44.33% of the company’s stock.

International Game Technology Company Profile (NYSE:IGT)

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.

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