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

International Game Technology PLC (NYSE:IGT) has been given an average rating of “Moderate Buy” by the six brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $28.67.

Several research firms recently commented on IGT. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research report on Friday, July 26th. StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, September 13th. Finally, Stifel Nicolaus boosted their price objective on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, July 31st.

Institutional Investors Weigh In On International Game Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IGT. Fifth Third Wealth Advisors LLC purchased a new stake in shares of International Game Technology in the first quarter worth $339,000. Allspring Global Investments Holdings LLC boosted its stake in shares of International Game Technology by 9.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 17,669 shares of the company’s stock worth $399,000 after acquiring an additional 1,501 shares during the period. Principal Financial Group Inc. boosted its stake in shares of International Game Technology by 16.5% in the first quarter. Principal Financial Group Inc. now owns 14,610 shares of the company’s stock worth $330,000 after acquiring an additional 2,065 shares during the period. SG Americas Securities LLC grew its position in shares of International Game Technology by 10.8% during the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock worth $194,000 after purchasing an additional 836 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in International Game Technology by 82.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 46,108 shares of the company’s stock valued at $1,042,000 after purchasing an additional 20,785 shares during the period. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Trading Up 0.3 %

Shares of NYSE IGT opened at $20.53 on Thursday. International Game Technology has a 1 year low of $18.90 and a 1 year high of $30.50. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.84 and a quick ratio of 0.71. The firm has a 50-day moving average of $21.36 and a 200 day moving average of $20.88. The stock has a market cap of $4.09 billion, a P/E ratio of 19.55 and a beta of 1.95.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, July 30th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.45 earnings per share. As a group, sell-side analysts expect that International Game Technology will post 1.48 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 13th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Tuesday, August 13th. International Game Technology’s dividend payout ratio is presently 76.19%.

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.