International Game Technology (NYSE:IGT) share up 6.6%
International Game Technology PLC (New York Stock Exchange: IGT – Get a rating) jumped 6.6% on Friday. The company traded as low as $17.99 and last traded at $17.99. 135,539 shares changed hands during trading, down 92% from the average session volume of 1,802,527 shares. The stock previously closed at $16.87.
Analysts set new price targets
A number of research companies have weighed in on IGT. Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $37.00 to $35.00 and set a “buy” rating on the stock in a research note on Thursday. Jefferies Financial Group upgraded International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the stock from $30.00 to $26.00 in a Thursday research note May 12. To finish, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 research note. Six analysts rated the stock with a buy rating. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $40.40.
International trade in gaming technology up 6.7%
The company has a 50-day moving average price of $19.78 and a 200-day moving average price of $23.73. The company has a market capitalization of $3.67 billion, a price-earnings ratio of 7.89 and a beta of 1.91. The company has a debt ratio of 3.51, a quick ratio of 1.33 and a current ratio of 1.43.
International game technology (New York Stock Exchange: IGT – Get a rating) last announced its quarterly results on Tuesday, May 10. The company reported EPS of $0.39 for the quarter, beating the consensus estimate of $0.34 by $0.05. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company posted revenue of $1.05 billion for the quarter, compared to analysts’ estimates of $1.04 billion. In the same quarter a year earlier, the company posted EPS of $0.38. The company’s quarterly revenue increased 3.5% year over year. On average, research analysts expect International Game Technology PLC to post 1.4 earnings per share for the current year.
Announcing the International Gaming Technology Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 7. Investors of record on Tuesday, May 24 received a dividend of $0.20. The ex-dividend date was Monday, May 23. This represents an annualized dividend of $0.80 and a dividend yield of 4.44%. International Game Technology’s dividend payout ratio is currently 35.09%.
Institutional investors weigh in on international gaming technology
Several institutional investors and hedge funds have recently changed their holdings in IGT. Massachusetts Financial Services Co. MA increased its holdings of International Game Technology shares by 62.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 6,883,436 shares of the company valued at $199,001,000 after purchasing an additional 2,639,187 shares during the period. Broad Peak Investment Holdings Ltd. bought a new stake in shares of International Game Technology in Q4 worth $56,895,000. Bank of New York Mellon Corp increased its stake in shares of International Game Technology by 62.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,025,282 shares of the company valued at $124,024,000 after purchasing an additional 1,927,848 shares during the period. Boston Partners increased its stake in shares of International Game Technology by 36.9% in the 1st quarter. Boston Partners now owns 6,662,138 shares of the company valued at $161,326,000 after purchasing an additional 1,796,129 shares during the period. Finally, 140 Summer Partners LP increased its stake in shares of International Game Technology by 164.4% in the 4th quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company valued at $73,901,000 after purchasing an additional 1,589,548 shares during the period. Hedge funds and other institutional investors hold 44.33% of the company’s shares.
International Gaming Technology Company Profile
International Game Technology PLC operates and provides game 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 the 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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