International Game Technology PLC (NYSE:IGT) Receives an Average “Moderate Buy” Recommendation from Brokerages

International Game Technology PLC (NYSE:IGT – Get a rating) earned an average “moderate buy” rating from the seven analysts who currently cover the stock, MarketBeat.com reports. One research analyst gave the stock a hold rating and four gave the company a buy rating. The 12-month average price target among brokers who have quoted the stock over the past year is $35.00.

Several research analysts have recently published reports on the company. Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 research note. Truist Financial reduced its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a Wednesday, July 20 report. Stifel Nicolaus reduced his price target on International Game Technology from $36.00 to $26.00 in a Monday, August 1 report. To finish, StockNews.com downgraded International Game Technology from a “buy” rating to a “hold” rating in a report released Thursday.

Institutional investors weigh in on international gaming technology

A number of institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in International Game Technology by 6.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 7,923,906 shares of the company valued at $147,068,000 after purchasing an additional 490,739 shares last quarter. Lazard Asset Management LLC increased its position in International Game Technology by 25.0% during the second quarter. Lazard Asset Management LLC now owns 7,761,145 shares of the company valued at $144,046,000 after purchasing an additional 1,553,857 shares last quarter. Boston Partners increased its position in International Game Technology by 36.9% during the first 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 last quarter. Bank of New York Mellon Corp increased its position in International Game Technology by 62.2% during the first quarter. Bank of New York Mellon Corp now owns 5,025,282 shares of the company valued at $124,024,000 after buying an additional 1,927,848 shares last quarter. Finally, Broad Peak Investment Holdings Ltd. increased its position in International Game Technology by 42.3% during the first quarter. Broad Peak Investment Holdings Ltd. now owns 2,799,638 shares of the company valued at $69,095,000 after purchasing an additional 831,644 shares last quarter. 44.33% of the shares are currently held by institutional investors and hedge funds.

International Gaming Technology Awards Performance

Shares of IGT opened at $17.41 on Monday. International Game Technology has a 12-month low of $15.01 and a 12-month high of $32.95. The company has a market capitalization of $3.55 billion, a P/E ratio of 22.61 and a beta of 1.78. The stock has a fifty-day moving average price of $18.69 and a 200-day moving average price of $20.13. The company has a debt ratio of 3.53, a current ratio of 1.56 and a quick ratio of 1.44.

International Games Technology (NYSE: IGT – Get a rating) last released its quarterly results on Tuesday, August 2. The company reported earnings per share (EPS) of $0.57 for the quarter, beating the consensus estimate of $0.31 by $0.26. International Game Technology achieved a return on equity of 14.56% and a net margin of 3.87%. The company posted revenue of $1.02 billion in the quarter, versus $1.02 billion expected by analysts. On average, research analysts expect International Game Technology to post earnings per share of 0.82 for the current year.

Announcing the International Gaming Technology Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 30. Shareholders of record on Tuesday August 16 received a dividend of $0.20 per share. This represents an annualized dividend of $0.80 and a dividend yield of 4.60%. The ex-dividend date was Monday, August 15. International Game Technology’s dividend payout rate is 103.90%.

International Gaming Technology Company Profile

(Get a rating)

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.

See also

Analyst Recommendations for International Gaming Technology (NYSE: IGT)

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