International Game Technology PLC (NYSE:IGT) Receives Consensus “Buy” Recommendation From Analysts


International Game Technology PLC (NYSE:IGT – Get a rating) earned a consensus “Buy” recommendation from the six brokerages that cover the business, reports. Five research analysts rated the stock with a buy rating. The average 1-year target price among brokerages that updated their coverage on the stock in the past year is $40.80.

IGT has been the subject of several recent analyst reports. Jefferies Financial Group moved 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. Deutsche Bank Aktiengesellschaft lowered its price target on International Game Technology from $39.00 to $37.00 in a Wednesday, May 11 research note. To finish, upgraded International Game Technology from a “hold” rating to a “buy” rating in a Wednesday, June 15 research note.

A number of hedge funds and other institutional investors have recently changed their holdings in the company. Parkside Financial Bank & Trust increased its stake in shares of International Game Technology by 84.9% in the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company valued at $29,000 after acquiring 534 additional shares in the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of International Game Technology in Q1, valued at around $34,000. Steward Partners Investment Advisory LLC increased its holding in shares of International Game Technology by 100.0% in the 4th 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. bought a new position in shares of International Game Technology in Q1, valued at around $49,000. Finally, National Bank of Canada FI bought a new position in shares of International Game Technology in the 4th quarter valued at approximately $60,000. Institutional investors hold 44.33% of the company’s shares.

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Shares of International Game Technology opened at $19.30 on Friday. International Game Technology has a 52 week low of $17.27 and a 52 week high of $32.95. The company’s fifty-day simple moving average is $20.53 and its 200-day simple moving average is $24.39. The company has a market capitalization of $3.93 billion, a PE ratio of 8.46 and a beta of 1.93. The company has a quick ratio of 1.33, a current ratio of 1.43 and a debt ratio of 3.51.

International Games Technology (NYSE: IGT – Get a rating) last announced its quarterly results on Tuesday, May 10. The company reported EPS of $0.39 for the quarter, beating the consensus estimate of $0.34 by $0.05. International Game Technology achieved a return on equity of 3.35% and a net margin of 11.37%. The company posted revenue of $1.05 billion for the quarter, compared to analysts’ estimates of $1.04 billion. In the same quarter a year earlier, the company posted EPS of $0.38. The company’s quarterly revenue increased 3.5% year over year. As a group, stock analysts expect International Game Technology to post earnings per share of 1.4 for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 7. Shareholders of record on Tuesday, May 24 received a dividend of $0.20 per share. The ex-dividend date was Monday, May 23. This represents an annualized dividend of $0.80 and a yield of 4.15%. International Game Technology’s dividend payout ratio (DPR) is 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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