International Game Technology (NYSE:IGT) Receives $23.25 Consensus PT from Brokerages

International Game Technology (NYSE:IGT) has earned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $23.25.

IGT has been the topic of a number of analyst reports. Wall Street Zen downgraded International Game Technology from a “hold” rating to a “sell” rating in a research report on Saturday, June 14th. Susquehanna reaffirmed a “positive” rating and issued a $25.00 target price (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. Argus downgraded International Game Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Stifel Nicolaus reissued a “buy” rating and set a $20.00 price objective (down previously from $22.00) on shares of International Game Technology in a report on Wednesday, May 21st. Finally, Truist Financial cut their price objective on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd.

International Game Technology Price Performance

NYSE:IGT opened at $15.03 on Monday. The company has a quick ratio of 2.43, a current ratio of 2.48 and a debt-to-equity ratio of 2.74. The stock’s 50 day moving average price is $15.80 and its two-hundred day moving average price is $16.80. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of 10.43 and a beta of 1.53. International Game Technology has a 12-month low of $13.81 and a 12-month high of $24.13.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). The business had revenue of $583.00 million during the quarter, compared to the consensus estimate of $630.30 million. International Game Technology had a net margin of 11.46% and a return on equity of 7.86%. International Game Technology’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS. On average, analysts anticipate that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.32%. The ex-dividend date was Thursday, May 29th. International Game Technology’s dividend payout ratio is currently 55.56%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Victory Capital Management Inc. grew its stake in shares of International Game Technology by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock valued at $274,000 after buying an additional 622 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of International Game Technology by 5.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,903 shares of the company’s stock worth $210,000 after purchasing an additional 655 shares in the last quarter. Cerity Partners LLC boosted its stake in International Game Technology by 2.3% during the 1st quarter. Cerity Partners LLC now owns 31,336 shares of the company’s stock valued at $510,000 after purchasing an additional 715 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in International Game Technology by 4.0% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 22,895 shares of the company’s stock valued at $372,000 after purchasing an additional 891 shares during the last quarter. Finally, CWM LLC boosted its stake in International Game Technology by 61.1% during the 1st quarter. CWM LLC now owns 2,460 shares of the company’s stock valued at $40,000 after purchasing an additional 933 shares during the last quarter. 44.33% of the stock is owned by institutional investors.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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, as well as iLottery solutions and services.