International Game Technology PLC (NYSE:IGT – Get Free Report) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Investors of record on Tuesday, November 26th will be paid a dividend of 0.20 per share on Tuesday, December 10th. This represents a $0.80 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Tuesday, November 26th.
International Game Technology has increased its dividend payment by an average of 58.7% annually over the last three years. International Game Technology has a payout ratio of 47.9% meaning its dividend is sufficiently covered by earnings. Analysts expect International Game Technology to earn $0.96 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 83.3%.
International Game Technology Trading Down 0.4 %
Shares of IGT traded down $0.08 during trading on Wednesday, reaching $20.90. 848,023 shares of the company traded hands, compared to its average volume of 1,108,961. The stock has a 50-day simple moving average of $21.05 and a 200-day simple moving average of $20.93. The stock has a market cap of $4.16 billion, a PE ratio of 34.87 and a beta of 1.96. International Game Technology has a twelve month low of $18.90 and a twelve month high of $28.82. The company has a quick ratio of 0.71, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.
Analyst Ratings Changes
Several brokerages have recently issued reports on IGT. B. Riley reissued a “buy” rating and set a $30.00 price target on shares of International Game Technology in a research report on Friday, July 26th. Stifel Nicolaus upped their price objective on International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.
About International Game Technology
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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