International Game Technology PLC (NYSE:IGT – Get Rating) – Equity analysts at Jefferies Financial Group cut their first-quarter 2022 earnings per share (EPS) estimates for shares of International Game Technology in a report released on Wednesday 2 March. Jefferies Financial Group analyst D. Katz now expects the company to post earnings per share of $0.32 for the quarter, down from its previous forecast of $0.34. Jefferies Financial Group currently has a “Hold” rating and a target price of $33.00 on the stock. Jefferies Financial Group also released estimates for International Game Technology Q2 2022 earnings at $0.33 EPS, Q3 2022 earnings at $0.31 EPS, Q4 2022 earnings at $0.27 EPS, profit for fiscal year 2022 at $1.23 EPS and profit for fiscal year 2023 at $1.30 EPS.
A number of other stock analysts have also weighed in on the company recently. Credit Suisse Group raised its price target on International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday. Stifel Nicolaus launched coverage on International Game Technology in a report on Thursday, December 16. They have set a “buy” rating and a price target of $43.00 on the stock. Finally, Deutsche Bank Aktiengesellschaft raised its price target on International Game Technology shares from $32.00 to $42.00 and gave the company a “buy” rating in a Wednesday, Nov. 10, report. One research analyst gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $43.20.
NYSE IGT opened at $25.95 on Friday. The stock has a market capitalization of $5.32 billion, a price-earnings ratio of 24.48 and a beta of 2.04. International Game Technology has a 12-month low of $15.11 and a 12-month high of $32.95. The company has a current ratio of 1.31, a quick ratio of 1.21 and a debt ratio of 3.24. The stock has a 50-day moving average of $28.16 and a 200-day moving average of $26.65.
Large investors have recently increased or reduced their stakes in the stock. Massachusetts Financial Services Co. MA increased its holdings in International Game Technology by 62.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,883,436 shares of the company worth $199,001,000 after purchasing an additional 2,639,187 shares last quarter. Broad Peak Investment Holdings Ltd. bought a new position in International Game Technology during Q4, valued at approximately $56,895,000. 140 Summer Partners LP increased its stake in International Game Technology by 164.4% during the 4th quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company valued at $73,901,000 after acquiring 1,589,548 additional shares in the last quarter. FMR LLC increased its stake in shares of International Game Technology by 222.8% in the 1st quarter. FMR LLC now owns 2,057,614 shares of the company valued at $26,729,000 after purchasing an additional 1,420,212 shares in the last quarter. Finally, BlackRock Inc. increased its position in International Game Technology by 9.5% during the fourth quarter. BlackRock Inc. now owns 11,013,922 shares of the company worth $318,413,000 after purchasing an additional 955,108 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s shares.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 29. Shareholders of record on Tuesday, March 15 will receive a dividend of $0.20 per share. This represents a dividend of $0.80 on an annualized basis and a yield of 3.08%. The ex-dividend date is Monday, March 14. International Game Technology’s dividend payout ratio is currently 75.47%.
About International Gaming Technology (Get a rating)
International Game Technology Plc is engaged in the design, manufacture and marketing of electronic game equipment, software and network systems. It operates through 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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