International Game Technology (NYSE:IGT) Price Target Lowered to $22.00 at Stifel Nicolaus

International Game Technology (NYSE:IGT) had its price target reduced by Stifel Nicolaus from $26.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

IGT has been the topic of a number of other research reports. StockNews.com cut International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Truist Financial cut their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research note on Tuesday, January 14th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.25.

International Game Technology Trading Up 2.7 %

Shares of NYSE IGT opened at $16.51 on Tuesday. International Game Technology has a 12-month low of $13.81 and a 12-month high of $24.13. The company has a market cap of $3.34 billion, a price-to-earnings ratio of 27.52 and a beta of 1.66. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The stock’s 50 day simple moving average is $16.73 and its 200 day simple moving average is $18.05.

International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $651.00 million for the quarter, compared to analyst estimates of $657.84 million. During the same period last year, the firm posted $0.56 EPS. The business’s revenue was down 4.4% compared to the same quarter last year. Equities research analysts expect that International Game Technology will post 1.24 EPS for the current year.

International Game Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 4.85%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s payout ratio is currently 46.78%.

Institutional Trading of International Game Technology

A number of hedge funds and other institutional investors have recently modified their holdings of IGT. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology during the fourth quarter worth approximately $45,000. Sterling Capital Management LLC grew its holdings in shares of International Game Technology by 782.5% in the 4th quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock worth $55,000 after acquiring an additional 2,770 shares during the last quarter. Inlight Wealth Management LLC acquired a new position in shares of International Game Technology in the 1st quarter worth $85,000. Quarry LP raised its position in shares of International Game Technology by 103.9% during the fourth quarter. Quarry LP now owns 6,185 shares of the company’s stock worth $109,000 after purchasing an additional 3,151 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in shares of International Game Technology during the fourth quarter valued at $188,000. Institutional investors own 44.33% of the company’s stock.

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.