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, Marketbeat.com 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, StockNews.com 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.
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.
This instant alert was powered by MarketBeat’s narrative 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 daily the highest rated and most successful research analysts on Wall Street 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