International Game Technology (NYSE:IGT) Earns Buy Rating from B. Riley

B. Riley restated their buy rating on shares of International Game Technology (NYSE:IGT) in a report released on Friday morning, Benzinga reports. The firm currently has a $30.00 price objective on the stock.

A number of other analysts also recently commented on IGT. Stifel Nicolaus upgraded International Game Technology from a hold rating to a buy rating and upped their price objective for the stock from $24.00 to $26.00 in a report on Thursday, May 30th. StockNews.com cut shares of International Game Technology from a strong-buy rating to a buy rating in a research report on Friday, July 5th. Truist Financial decreased their price target on shares of International Game Technology from $26.00 to $23.00 and set a hold rating for the company in a research report on Wednesday, May 15th. Finally, Susquehanna decreased their price target on shares of International Game Technology from $40.00 to $33.00 and set a positive rating for the company in a research report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $28.00.

International Game Technology Trading Down 1.3 %

IGT stock opened at $23.45 on Friday. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 22.33 and a beta of 1.98. The company has a quick ratio of 0.67, a current ratio of 0.80 and a debt-to-equity ratio of 2.59. The business has a fifty day simple moving average of $20.52 and a 200-day simple moving average of $22.24. International Game Technology has a 52 week low of $18.90 and a 52 week high of $33.93.

International Game Technology (NYSE:IGT) last released its quarterly earnings data on Tuesday, May 14th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.17. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate 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 for the quarter was up .7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts expect that International Game Technology will post 1.4 EPS for the current year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a $0.20 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.41%. International Game Technology’s payout ratio is currently 76.19%.

Hedge Funds Weigh In On International Game Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IGT. SG Americas Securities LLC boosted its position in International Game Technology by 43.7% in the 4th quarter. SG Americas Securities LLC now owns 7,771 shares of the company’s stock valued at $213,000 after buying an additional 2,363 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in International Game Technology by 10.6% in the 4th 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 last quarter. Altfest L J & Co. Inc. purchased a new position in International Game Technology in the 4th quarter valued at about $203,000. Coastline Trust Co bought a new position in shares of International Game Technology during the fourth quarter worth about $288,000. Finally, Venturi Wealth Management LLC bought a new position in shares of International Game Technology during the fourth quarter worth about $25,000. 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.