International Game Technology (NYSE:IGT) Price Target Lowered to $26.00 at Truist Financial

International Game Technology (NYSE:IGT) had its price objective trimmed by Truist Financial from $28.00 to $26.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

Several other equities research analysts also recently commented on the company. B. Riley began coverage on International Game Technology in a report on Friday, April 5th. They set a buy rating and a $30.00 target price for the company. Argus reduced their target price on International Game Technology from $30.00 to $27.00 and set a buy rating for the company in a report on Wednesday, March 13th. Jefferies Financial Group reaffirmed a hold rating and set a $29.00 target price (down from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Stifel Nicolaus reaffirmed a hold rating and set a $26.00 target price (down from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. Finally, StockNews.com raised International Game Technology from a buy rating to a strong-buy rating in a research note on Wednesday, April 3rd. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, International Game Technology has an average rating of Moderate Buy and an average price target of $31.00.

International Game Technology Trading Up 0.4 %

Shares of International Game Technology stock opened at $20.52 on Tuesday. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 26.99 and a beta of 1.94. The business has a fifty day simple moving average of $22.92 and a 200-day simple moving average of $25.71. International Game Technology has a fifty-two week low of $19.54 and a fifty-two week high of $33.99.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.11. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The company’s revenue was up 3.4% on a year-over-year basis. On average, equities analysts forecast that International Game Technology will post 1.46 EPS for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 9th. Investors of record on Tuesday, March 26th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.90%. The ex-dividend date of this dividend was Monday, March 25th. International Game Technology’s dividend payout ratio is currently 105.26%.

Institutional Investors Weigh In On International Game Technology

Several hedge funds have recently bought and sold shares of the business. CWM LLC increased its position in International Game Technology by 166.5% in the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock worth $27,000 after purchasing an additional 561 shares during the last quarter. Venturi Wealth Management LLC acquired a new position in International Game Technology in the 4th quarter worth about $25,000. Huntington National Bank increased its position in International Game Technology by 113.2% in the 3rd quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after purchasing an additional 489 shares during the last quarter. Allworth Financial LP increased its position in International Game Technology by 770.0% in the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after purchasing an additional 847 shares during the last quarter. Finally, Highlander Capital Management LLC acquired a new position in International Game Technology in the 4th quarter worth about $27,000. 44.33% of the stock is 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.