International Game Technology PLC (NYSE:IGT) Receives Consensus “Buy” Rating from Analysts

International Game Technology PLC (NYSE:IGT – Get a rating) received an average “Buy” recommendation from the six rating agencies that cover the company, MarketBeat reports. Two analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average target price among analysts who have reported on the stock in the past year is $43.20.

A number of research companies have weighed in on IGT. Stifel Nicolaus began covering International Game Technology in a report on Thursday, December 16. They set a “buy” rating and a price target of $43.00 on the stock. Credit Suisse Group raised its price target on shares of International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a Wednesday, March 2 research note. Ultimately, cut shares of International Game Technology from a “buy” rating to a “hold” rating in a Wednesday, March 9 research note.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in the company. BlackRock Inc. increased its holdings in International Game Technology by 9.5% during the 4th quarter. BlackRock Inc. now owns 11,013,922 shares of the company worth $318,413,000 after acquiring an additional 955,108 shares during the period. Boston Partners increased its holdings in International Game Technology by 5.4% during the third quarter. Boston Partners now owns 6,962,134 shares of the company worth $179,958,000 after acquiring an additional 356,457 shares during the period. 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. Lazard Asset Management LLC increased its holdings of International Game Technology shares by 16.1% in the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company valued at $173,074,000 after purchasing an additional 828,482 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. 44.33% of the shares are held by hedge funds and other institutional investors.

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IGT stock traded down $0.52 during Thursday’s session, hitting $25.25. 1,145,208 shares were traded, against an average volume of 1,915,638. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt ratio of 3.29. The stock has a 50-day simple moving average of $26.88 and a 200-day simple moving average of $27.12. The company has a market capitalization of $5.14 billion, a P/E ratio of 10.84 and a beta of 2.04. International Game Technology has a 12-month low of $15.15 and a 12-month high of $32.95.

International Games Technology (NYSE: IGT – Get a rating) last released its quarterly earnings data on Tuesday, March 1. The company reported earnings per share of $0.09 for the quarter, missing analyst consensus estimates of $0.39 per ($0.30). The company posted revenue of $1.05 billion for the quarter, versus analyst estimates of $1.02 billion. International Game Technology achieved a net margin of 11.78% and a return on equity of 3.59%. Stock analysts predict that International Game Technology will post EPS of 1.43 for the current year.

The company also recently announced 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 3.17%. The ex-dividend date is Monday, March 14. International Game Technology’s dividend payout ratio is currently 34.33%.

About International Gaming Technology (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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