By otakuyassine3@gmail.com 
StockNews.com downgraded shares of International Game Technology (NYSE:IGT – Free Report) from a buy rating to a hold rating in a research note released on Monday.
Separately, Truist Financial decreased their price target on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.25.
Read Our Latest Stock Analysis on IGT
International Game Technology Price Performance
Shares of IGT stock opened at $15.64 on Monday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a fifty-two week low of $13.81 and a fifty-two week high of $24.13. The firm has a market cap of $3.16 billion, a P/E ratio of 26.07 and a beta of 1.66. The business’s 50 day moving average price is $16.81 and its 200-day moving average price is $18.23.
International Game Technology (NYSE:IGT – Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The company had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same quarter last year, the firm earned $0.56 EPS. The business’s revenue was down 4.4% on a year-over-year basis. On average, equities research analysts anticipate that International Game Technology will post 1.24 earnings per share for the current year.
International Game Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $0.80 annualized dividend and a dividend yield of 5.12%. International Game Technology’s payout ratio is 46.78%.
Institutional Investors Weigh In On International Game Technology
Several hedge funds have recently bought and sold shares of the business. Stifel Financial Corp increased its stake in shares of International Game Technology by 22.2% during the third quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock valued at $1,197,000 after purchasing an additional 10,193 shares in the last quarter. State Street Corp grew its stake in shares of International Game Technology by 1.0% in the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after buying an additional 21,295 shares during the last quarter. Barclays PLC raised its stake in International Game Technology by 49.1% during the third quarter. Barclays PLC now owns 291,626 shares of the company’s stock valued at $6,212,000 after buying an additional 96,019 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in International Game Technology by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 56,048 shares of the company’s stock worth $990,000 after acquiring an additional 1,442 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in International Game Technology in the fourth quarter worth $45,000. Institutional investors own 44.33% of the company’s stock.
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.
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