International Game Technology (NYSE:IGT) Shares Gap Up to $18.90

International Game Technology PLC (NYSE:IGTGet Free Report) gapped up before the market opened on Thursday . The stock had previously closed at $18.90, but opened at $19.54. International Game Technology shares last traded at $19.33, with a volume of 80,914 shares.

Analyst Upgrades and Downgrades

IGT has been the subject of a number of recent research reports. Argus lowered their price target on shares of International Game Technology from $30.00 to $27.00 and set a “buy” rating for the company in a report on Wednesday, March 13th. Truist Financial lowered their price target on shares of International Game Technology from $26.00 to $23.00 and set a “hold” rating for the company in a report on Wednesday, May 15th. StockNews.com downgraded shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. B. Riley started coverage on shares of International Game Technology in a report on Friday, April 5th. They issued a “buy” rating and a $30.00 target price for the company. Finally, Stifel Nicolaus upgraded shares of International Game Technology from a “hold” rating to a “buy” rating and boosted their target price for the company from $24.00 to $26.00 in a report on Thursday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $28.00.

View Our Latest Stock Report on International Game Technology

International Game Technology Trading Up 3.0 %

The stock has a market capitalization of $3.88 billion, a PE ratio of 18.19 and a beta of 1.94. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59. The business’s fifty day moving average is $20.60 and its 200-day moving average is $24.16.

International Game Technology (NYSE:IGTGet Free Report) last announced its quarterly earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17. International Game Technology had a net margin of 4.98% and a return on equity of 20.84%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company posted $0.49 earnings per share. International Game Technology’s revenue was up .7% compared to the same quarter last year. As a group, analysts anticipate that International Game Technology PLC will post 1.53 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be paid a $0.20 dividend. The ex-dividend date is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.11%. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Trading of International Game Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Los Angeles Capital Management LLC increased its stake in International Game Technology by 72.4% during the third quarter. Los Angeles Capital Management LLC now owns 35,856 shares of the company’s stock valued at $1,087,000 after purchasing an additional 15,052 shares during the last quarter. Illinois Municipal Retirement Fund bought a new stake in International Game Technology during the third quarter valued at $768,000. Barclays PLC increased its stake in International Game Technology by 24.8% during the third quarter. Barclays PLC now owns 105,878 shares of the company’s stock valued at $3,212,000 after purchasing an additional 21,029 shares during the last quarter. Qsemble Capital Management LP bought a new stake in International Game Technology during the third quarter valued at $218,000. Finally, Amalgamated Bank grew its position in shares of International Game Technology by 4.2% during the third quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock worth $508,000 after acquiring an additional 682 shares during the last quarter. Institutional investors own 44.33% of the company’s stock.

International Game Technology Company Profile

(Get Free Report)

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.

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