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

Shares of International Game Technology PLC (NYSE:IGT – Get a rating) received a consensus “Buy” recommendation from the seven analysts who currently cover the company, reports Seven investment analysts rated the stock with a Buy recommendation. The average 1-year target price among analysts who have covered the stock over the past year is $38.67.

IGT has been the subject of several analyst reports. Jefferies Financial Group downgraded International Game Technology from a “hold” rating to a “buy” rating and lowered its price target for the company from $30.00 to $26.00 in a Thursday 12 research note. may. Truist Financial cut its price target on International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a Wednesday, July 20 research note. upgraded International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 research report. Finally, Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $37.00 to $35.00 and set a “buy” rating for the company in a Thursday, July 14 research note.

Hedge funds weigh on international gaming technology

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A number of large investors have recently changed their stock holdings. Parkside Financial Bank & Trust increased its stake in International Game Technology by 84.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company worth $29,000 after purchasing an additional 534 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in International Game Technology in the first quarter worth $34,000. Steward Partners Investment Advisory LLC increased its stake in International Game Technology by 100.0% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company valued at $35,000 after acquiring an additional 600 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new equity stake in International Game Technology during Q1 worth approximately $49,000. Finally, National Bank of Canada FI acquired a new stake in International Game Technology in the 4th quarter for a value of approximately $60,000. 44.33% of the shares are currently held by institutional investors and hedge funds.

International gaming technology stock down 2.5%

Shares of IGT opened at $18.01 on Wednesday. The company has a market capitalization of $3.67 billion, a P/E ratio of 7.90 and a beta of 1.91. The stock’s 50-day moving average is $19.53 and its two-hundred-day moving average is $23.23. International Game Technology has a 12-month low of $16.46 and a 12-month high of $32.95. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt ratio of 3.51.

International Games Technology (NYSE: IGT – Get a rating) last released its results on Tuesday, May 10. The company reported EPS of $0.39 for the quarter, beating consensus analyst estimates of $0.34 by $0.05. The company posted revenue of $1.05 billion for the quarter, versus a consensus estimate of $1.04 billion. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company’s revenue for the quarter increased 3.5% year over year. In the same quarter a year earlier, the company earned $0.38 per share. Analysts expect International Game Technology to post earnings per share of 1.39 for the current fiscal year.

International Game Technology Announces Dividend

The company also recently announced 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 a dividend of $0.80 on an annualized basis and a yield of 4.44%. International Game Technology’s payout ratio is currently 35.09%.

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.

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Analyst Recommendations for International Gaming Technology (NYSE: IGT)

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