International Game Technology (NYSE:IGT) Reaches New 52-Week Low at $19.48

International Game Technology PLC (NYSE:IGT) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $19.48 and last traded at $19.52, with a volume of 471388 shares changing hands. The stock had previously closed at $20.35.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus cut their price target on International Game Technology from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, March 13th. StockNews.com downgraded International Game Technology from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Stifel Nicolaus reiterated a “hold” rating and issued a $24.00 price objective on shares of International Game Technology in a report on Wednesday, May 15th. B. Riley initiated coverage on International Game Technology in a report on Friday, April 5th. They issued a “buy” rating and a $30.00 price objective for the company. Finally, Susquehanna dropped their price objective on International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a report on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.67.

International Game Technology Stock Up 0.3 %

The firm has a 50-day moving average of $20.70 and a 200 day moving average of $24.36. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 0.67. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 18.73 and a beta of 1.94.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.03 billion. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. The business’s revenue was up .7% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. As a group, sell-side analysts forecast that International Game Technology PLC will post 1.53 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The company 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 of this dividend is Thursday, May 30th. This represents a $0.80 annualized dividend and a yield of 4.07%. International Game Technology’s dividend payout ratio (DPR) is presently 76.19%.

Institutional Investors Weigh In On International Game Technology

A number of institutional investors have recently made changes to their positions in the stock. Huntington National Bank boosted its holdings in shares of International Game Technology by 113.2% in the third quarter. Huntington National Bank now owns 921 shares of the company’s stock worth $28,000 after acquiring an additional 489 shares during the period. Amalgamated Bank boosted its stake in International Game Technology by 4.2% during the third quarter. Amalgamated Bank now owns 16,766 shares of the company’s stock valued at $508,000 after buying an additional 682 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in International Game Technology by 10.6% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock valued at $231,000 after buying an additional 805 shares during the period. SG Americas Securities LLC boosted its stake in International Game Technology by 10.8% during the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after buying an additional 836 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in International Game Technology during the fourth quarter valued at $25,000. 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.