Shares of International Game Technology PLC (NYSE: IGT) have received a consensus recommendation to “Buy” by the seven brokerages that currently cover the company, reports MarketBeat.com. One analyst rated the stock with a keep recommendation and six gave the company a buy recommendation. The 12-month average price target among brokers who updated their equity coverage in the past year is $ 35.50.
Several equity research analysts recently commented on IGT stocks. Deutsche Bank Aktiengesellschaft raised its price target for International Game Technology shares from $ 32.00 to $ 42.00 and gave the stock a “buy” rating in a Wednesday 10 research note. November. Credit Suisse Group raised its price target for International Game Technology shares from $ 36.00 to $ 57.00 and gave the company an “outperformance” rating in a Wednesday, November 10 research note. Jefferies Financial Group downgraded International Game Technology’s shares from a “buy” rating to a “keep” rating and lowered its price target for the company from $ 38.00 to $ 33.00 in a research note Wednesday, November 17. Finally, Berenberg Bank assumed coverage of International Game Technology’s shares in a research note on Tuesday, October 19. They issued a “buy” note and a target price of $ 35.00 on the stock.
Actions of NYSE IGT traded at $ 0.29 during the midday session Tuesday, reaching $ 23.76. 1,793,444 shares were traded, for an average volume of 2,207,961. The company has a leverage ratio of 3.24, a quick ratio of 1.21 and a current ratio of 1.31. The stock has a market cap of $ 4.87 billion, a P / E ratio of 22.42 and a beta of 2.14. The company has a 50-day simple moving average of $ 28.59 and a 200-day simple moving average of $ 24.46. International Game Technology has a twelve month low of $ 14.21 and a twelve month high of $ 32.95.
International Game Technology (NYSE: IGT) last released its quarterly earnings data on Tuesday, November 9. The company reported earnings per share (EPS) of $ 0.31 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.21 of $ 0.10. The company posted revenue of $ 984.00 million in the quarter, compared to analysts’ expectations of $ 981.00 million. International Game Technology delivered a net margin of 5.63% and a negative return on equity of 2.85%. The company’s revenue for the quarter increased 20.6% year-over-year. During the same period of the previous year, the company achieved EPS of $ 0.26. On average, research analysts expect International Game Technology to post earnings per share of 0.55 for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 7. Shareholders of record on Tuesday, November 23 received a dividend of $ 0.20. This represents an annualized dividend of $ 0.80 and a dividend yield of 3.37%. The ex-dividend date was Monday, November 22. International Game Technology’s payout rate is 75.47%.
A number of hedge funds have recently increased or reduced their holdings in IGT. Baillie Gifford & Co. acquired a new stake in International Game Technology during the third quarter valued at approximately $ 29,000. Ellevest Inc. increased its positions in International Game Technology by 320.1% during the third quarter. Ellevest Inc. now owns 1,189 shares of the company valued at $ 31,000 after purchasing an additional 906 shares in the last quarter. Optimum Investment Advisors purchased a new stake in International Game Technology during the second quarter valued at approximately $ 34,000. Dark Forest Capital Management LP acquired a new stake in International Game Technology during the third quarter valued at approximately $ 54,000. Finally, FORA Capital LLC purchased a new stake in International Game Technology during the second quarter valued at approximately $ 92,000. 42.59% of the shares are currently held by hedge funds and other institutional investors.
About International Game Technology
International Game Technology Plc is engaged in the design, manufacture and marketing of electronic game equipment, software and network systems. It operates through the Global Lottery and Global Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.
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