International Game Technology PLC (NYSE:IGT) Receives Average Recommendation of “Moderate Buy” from Brokerages

International Game Technology PLC (NYSE:IGT) has been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $28.67.

IGT has been the subject of several research analyst reports. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Stifel Nicolaus raised their price target on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

International Game Technology Stock Performance

Shares of International Game Technology stock opened at $19.24 on Monday. The firm has a market capitalization of $3.83 billion, a P/E ratio of 32.07 and a beta of 1.96. International Game Technology has a 52 week low of $18.56 and a 52 week high of $28.82. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. The firm’s 50 day moving average is $20.69 and its two-hundred day moving average is $20.89.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.24). The firm had revenue of $587.00 million during the quarter, compared to analyst estimates of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.52 earnings per share. Research analysts forecast that International Game Technology will post 1 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.16%. The ex-dividend date is Tuesday, November 26th. International Game Technology’s payout ratio is 133.34%.

Hedge Funds Weigh In On International Game Technology

Hedge funds have recently bought and sold shares of the stock. Signaturefd LLC purchased a new position in International Game Technology during the third quarter worth $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in International Game Technology during the second quarter worth $31,000. Blue Trust Inc. purchased a new position in International Game Technology during the second quarter worth $44,000. Hexagon Capital Partners LLC increased its position in International Game Technology by 1,633.6% during the second quarter. Hexagon Capital Partners LLC now owns 2,219 shares of the company’s stock worth $45,000 after buying an additional 2,091 shares in the last quarter. Finally, CWM LLC increased its position in International Game Technology by 156.7% during the second quarter. CWM LLC now owns 2,321 shares of the company’s stock worth $47,000 after buying an additional 1,417 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

About International Game Technology

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.