International Game Technology PLC (NYSE:IGT) Receives Consensus “Buy” Rating From Brokerages
International Game Technology PLC (NYSE:IGT – Get a rating) received an average “Buy” recommendation from the seven brokerages that cover the business, reports MarketBeat Ratings. Five analysts rated the stock with a Buy recommendation. The 12-month average price target among brokers who have quoted the stock over the past year is $35.00.
A number of research analysts have recently released IGT stock reports. Deutsche Bank Aktiengesellschaft lowered its price target on shares of International Game Technology from $35.00 to $30.00 in a Wednesday, August 3 research note. Truist Financial lowered its price target on shares of International Game Technology from $36.00 to $30.00 and set a “buy” rating on the stock in a Wednesday, July 20 research report. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a Thursday, Sept. 1 research report. Finally, Stifel Nicolaus lowered his price target on International Game Technology shares from $36.00 to $26.00 in a Monday, August 1 research report.
International trade in gaming technology down 1.1%
Shares of International Game Technology opened at $17.76 on Thursday. International Game Technology has a 52 week low of $16.46 and a 52 week high of $32.95. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt ratio of 3.53. The company’s 50-day simple moving average is $19.21 and its 200-day simple moving average is $21.16. The company has a market capitalization of $3.62 billion, a price-earnings ratio of 23.07 and a beta of 1.82.
International Game Technology Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 30. Shareholders of record on Tuesday, August 16 received a dividend of $0.20. This represents an annualized dividend of $0.80 and a dividend yield of 4.50%. The ex-dividend date was Monday, August 15. International Game Technology’s dividend payout ratio (DPR) is currently 103.90%.
Institutional trade in international gaming technology
Several institutional investors and hedge funds have recently changed their holdings in IGT. Bank of New York Mellon Corp increased its holdings of International Game Technology shares 62.2% in 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. Boston Partners increased its stake in shares of 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 during the period. 140 Summer Partners LP increased its stake in shares of International Game Technology by 164.4% during the fourth 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. Lazard Asset Management LLC increased its stake in shares of 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 during the period. Finally, Invesco Ltd. increased its stake in shares of International Game Technology by 1,485.1% during the first quarter. Invesco Ltd. now owns 1,418,405 shares of the company valued at $35,006,000 after purchasing an additional 1,328,919 shares during the period. Hedge funds and other institutional investors hold 44.33% of the company’s shares.
About International Gaming Technology
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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