International Game Technology’s (IGT) “Buy” Rating Reiterated at Stifel Nicolaus

Stifel Nicolaus reiterated their buy rating on shares of International Game Technology (NYSE:IGT) in a research note released on Wednesday,Benzinga reports. They currently have a $20.00 price target on the stock, down from their prior price target of $22.00.

Several other brokerages have also recently weighed in on IGT. Truist Financial reduced their price target on International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, April 23rd. Wall Street Zen cut International Game Technology from a “buy” rating to a “hold” rating in a research report on Monday, April 14th. Finally, Susquehanna restated a “positive” rating and set a $25.00 target price (down from $30.00) on shares of International Game Technology in a research report on Wednesday, May 14th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.25.

International Game Technology Price Performance

Shares of NYSE IGT opened at $15.26 on Wednesday. The stock has a market cap of $3.08 billion, a PE ratio of 25.43 and a beta of 1.61. International Game Technology has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The stock has a fifty day moving average of $16.21 and a 200-day moving average of $17.41.

International Game Technology (NYSE:IGT) last announced its quarterly earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.05). The company had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $630.30 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. International Game Technology’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 earnings per share. Equities research analysts anticipate that International Game Technology will post 1.24 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Thursday, May 29th. International Game Technology’s payout ratio is 55.56%.

Hedge Funds Weigh In On International Game Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in International Game Technology by 61.1% during the first quarter. CWM LLC now owns 2,460 shares of the company’s stock worth $40,000 after buying an additional 933 shares in the last quarter. Knott David M Jr bought a new stake in International Game Technology during the first quarter worth about $41,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology during the fourth quarter worth about $45,000. Sterling Capital Management LLC lifted its stake in International Game Technology by 782.5% during the fourth quarter. Sterling Capital Management LLC now owns 3,124 shares of the company’s stock worth $55,000 after purchasing an additional 2,770 shares during the last quarter. Finally, Inlight Wealth Management LLC bought a new stake in International Game Technology during the first quarter worth about $85,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

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.