International Game Technology PLC (NYSE:IGT) to Issue Quarterly Dividend of $0.20

International Game Technology PLC (NYSE:IGTGet Rating) declared a quarterly dividend on Thursday, November 3rd, Wall Street Journal reports. Shareholders of record on Monday, November 28th will be paid a dividend of 0.20 per share on Friday, December 9th. This represents a $0.80 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend is Friday, November 25th.

International Game Technology has decreased its dividend payment by an average of 37.0% per year over the last three years. International Game Technology has a payout ratio of 47.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Game Technology to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 54.1%.

International Game Technology Stock Up 0.9 %

Shares of NYSE:IGT opened at $24.17 on Wednesday. The company has a fifty day moving average of $19.26 and a 200-day moving average of $19.51. The company has a market capitalization of $4.92 billion, a PE ratio of 13.73 and a beta of 1.84. The company has a debt-to-equity ratio of 2.64, a quick ratio of 1.01 and a current ratio of 1.16. International Game Technology has a 52-week low of $15.01 and a 52-week high of $30.84.

International Game Technology (NYSE:IGTGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.18. International Game Technology had a net margin of 8.56% and a return on equity of 24.78%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the prior year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, equities analysts predict that International Game Technology will post 1.9 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on IGT shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of International Game Technology from $35.00 to $30.00 in a research report on Wednesday, August 3rd. StockNews.com raised shares of International Game Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, November 15th. Finally, Stifel Nicolaus cut their price objective on shares of International Game Technology from $36.00 to $26.00 in a research report on Monday, August 1st. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $35.00.

Institutional Investors Weigh In On International Game Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. increased its stake in International Game Technology by 1,485.1% in the 1st quarter. Invesco Ltd. now owns 1,418,405 shares of the company’s stock valued at $35,006,000 after buying an additional 1,328,919 shares during the last quarter. Capital Research Global Investors grew its position in shares of International Game Technology by 115.5% during the 1st quarter. Capital Research Global Investors now owns 2,331,200 shares of the company’s stock valued at $57,534,000 after acquiring an additional 1,249,200 shares during the period. Goldman Sachs Group Inc. grew its position in shares of International Game Technology by 87.3% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company’s stock valued at $43,488,000 after acquiring an additional 1,092,029 shares during the period. Millennium Management LLC bought a new position in International Game Technology in the 2nd quarter worth approximately $11,354,000. Finally, Renaissance Technologies LLC boosted its holdings in International Game Technology by 1,629.0% in the 2nd quarter. Renaissance Technologies LLC now owns 536,000 shares of the company’s stock worth $9,948,000 after buying an additional 505,000 shares during the period. Institutional investors and hedge funds own 44.33% of the company’s stock.

About International Game Technology

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International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.

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Dividend History for International Game Technology (NYSE:IGT)

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