International Game Technology (NYSE:IGT) PT Lowered to $30.00 at Deutsche Bank Aktiengesellschaft

International Game Technology (NYSE:IGTGet Rating) had its price target cut by Deutsche Bank Aktiengesellschaft from $35.00 to $30.00 in a report released on Wednesday, The Fly reports.

Other equities research analysts have also issued reports about the company. StockNews.com upgraded International Game Technology from a hold rating to a buy rating in a research report on Wednesday, June 15th. Stifel Nicolaus dropped their price target on International Game Technology from $36.00 to $26.00 in a research report on Monday, August 1st. Truist Financial dropped their price target on International Game Technology from $36.00 to $30.00 and set a buy rating for the company in a research report on Wednesday, July 20th. Finally, Jefferies Financial Group upgraded International Game Technology from a hold rating to a buy rating and dropped their price target for the company from $30.00 to $26.00 in a research report on Thursday, May 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $35.00.

International Game Technology Price Performance

NYSE:IGT opened at $20.61 on Wednesday. International Game Technology has a 12 month low of $16.46 and a 12 month high of $32.95. The stock has a 50 day moving average of $19.42 and a two-hundred day moving average of $22.80. The company has a current ratio of 1.56, a quick ratio of 1.33 and a debt-to-equity ratio of 3.53. The firm has a market cap of $4.20 billion, a P/E ratio of 26.77 and a beta of 1.83.

International Game Technology (NYSE:IGTGet Rating) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.34 by $0.05. International Game Technology had a return on equity of 14.56% and a net margin of 3.87%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the business earned $0.38 EPS. International Game Technology’s quarterly revenue was up 3.5% on a year-over-year basis. On average, analysts expect that International Game Technology will post 1.03 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Investors of record on Tuesday, August 16th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, August 15th. This represents a $0.80 annualized dividend and a yield of 3.88%. International Game Technology’s payout ratio is 103.90%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Calamos Advisors LLC purchased a new position in International Game Technology in the first quarter worth approximately $3,114,000. Rockefeller Capital Management L.P. grew its position in International Game Technology by 1,028.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 7,468 shares of the company’s stock worth $215,000 after acquiring an additional 6,806 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in International Game Technology by 7.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 16,211 shares of the company’s stock worth $469,000 after acquiring an additional 1,079 shares during the period. 140 Summer Partners LP lifted its stake in International Game Technology by 164.4% during the fourth quarter. 140 Summer Partners LP now owns 2,556,259 shares of the company’s stock worth $73,901,000 after purchasing an additional 1,589,548 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in International Game Technology by 16.1% during the fourth quarter. Lazard Asset Management LLC now owns 5,986,714 shares of the company’s stock worth $173,074,000 after purchasing an additional 828,482 shares in the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

About International Game Technology

(Get Rating)

International Game Technology PLC operates and provides gaming 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 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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