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

International Game Technology PLC (NYSE:IGT) has earned a consensus rating of “Moderate Buy” from the six research firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $31.00.

A number of equities analysts have recently commented on IGT shares. B. Riley initiated coverage on International Game Technology in a research report on Friday, April 5th. They set a “buy” rating and a $30.00 price objective for the company. StockNews.com upgraded shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, April 3rd. Argus cut their price target on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. Stifel Nicolaus reaffirmed a “hold” rating and set a $26.00 price objective (down from $30.00) on shares of International Game Technology in a research report on Wednesday, March 13th. Finally, Truist Financial reduced their price objective on shares of International Game Technology from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Tuesday, April 23rd.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. State Board of Administration of Florida Retirement System lifted its holdings in International Game Technology by 9.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,009 shares of the company’s stock valued at $768,000 after purchasing an additional 3,000 shares in the last quarter. Entropy Technologies LP raised its position in shares of International Game Technology by 76.3% in the first quarter. Entropy Technologies LP now owns 23,693 shares of the company’s stock valued at $535,000 after buying an additional 10,252 shares during the last quarter. ProShare Advisors LLC boosted its position in International Game Technology by 8.5% during the first quarter. ProShare Advisors LLC now owns 19,523 shares of the company’s stock worth $441,000 after acquiring an additional 1,536 shares during the last quarter. Qsemble Capital Management LP purchased a new stake in International Game Technology in the 1st quarter worth approximately $280,000. Finally, Headlands Technologies LLC purchased a new position in shares of International Game Technology during the 1st quarter worth $83,000. 44.33% of the stock is owned by hedge funds and other institutional investors.

International Game Technology Price Performance

Shares of IGT stock opened at $20.10 on Thursday. The company has a market capitalization of $4.00 billion, a PE ratio of 26.44 and a beta of 1.94. International Game Technology has a 12 month low of $19.48 and a 12 month high of $33.99. The company has a debt-to-equity ratio of 2.90, a current ratio of 1.26 and a quick ratio of 1.07. The firm’s 50-day moving average is $21.63 and its two-hundred day moving average is $24.94.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, March 12th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. Analysts predict that International Game Technology will post 1.46 earnings per share for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were issued a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.80 annualized dividend and a yield of 3.98%. International Game Technology’s dividend payout ratio is presently 105.26%.

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.