International Game Technology (NYSE:IGT) has received an average recommendation of “Hold” from the six research firms that are presently covering the firm. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $28.13.
IGT has been the subject of a number of research reports. Bank of America Corp downgraded International Game Technology from a “buy” rating to a “neutral” rating and set a $30.00 target price for the company. in a research note on Thursday, January 26th. Argus downgraded International Game Technology from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. Telsey Advisory Group decreased their target price on International Game Technology from $33.00 to $31.00 and set an “outperform” rating for the company in a research note on Friday, March 10th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $25.50 target price on shares of International Game Technology in a research note on Wednesday, April 19th.
Institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. bought a new position in shares of International Game Technology during the fourth quarter worth approximately $38,969,000. Jane Street Group LLC bought a new position in shares of International Game Technology during the third quarter worth approximately $1,880,000. Prudential Financial Inc. bought a new position in shares of International Game Technology during the third quarter worth approximately $1,634,000. DUPONT CAPITAL MANAGEMENT Corp increased its position in shares of International Game Technology by 11.7% in the third quarter. DUPONT CAPITAL MANAGEMENT Corp now owns 174,097 shares of the company’s stock worth $4,244,000 after buying an additional 18,217 shares during the last quarter. Finally, Allianz Asset Management AG increased its position in shares of International Game Technology by 28.9% in the fourth quarter. Allianz Asset Management AG now owns 573,188 shares of the company’s stock worth $14,628,000 after buying an additional 128,408 shares during the last quarter. Institutional investors own 40.84% of the company’s stock.
International Game Technology (NYSE:IGT) traded up 1.50% during mid-day trading on Monday, reaching $21.00. The company’s stock had a trading volume of 714,134 shares. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 20.02 and a beta of 1.51. International Game Technology has a 52 week low of $16.87 and a 52 week high of $32.07. The firm has a 50-day moving average of $22.18 and a 200-day moving average of $25.29.
International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Thursday, March 9th. The company reported $0.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.36. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.33 billion. International Game Technology had a return on equity of 12.45% and a net margin of 0.99%. International Game Technology’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. On average, equities research analysts expect that International Game Technology will post $2.10 earnings per share for the current year.
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About International Game Technology
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.
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