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 MarketBeat.com. 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. StockNews.com 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
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
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.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in International Game Technology right now?
Before you consider International Game Technology, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and International Game Technology was not on the list.
Although International Game Technology currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here