International Game Technology PLC (NYSE:IGT) Given Average Recommendation of “Moderate Buy” by Analysts

International Game Technology PLC (NYSE:IGT) has received a consensus rating of “Moderate Buy” from the six analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $28.67.

Separately, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

International Game Technology Trading Down 0.1 %

IGT stock opened at $17.94 on Friday. International Game Technology has a 52 week low of $17.81 and a 52 week high of $28.23. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The company’s 50-day simple moving average is $19.99 and its 200 day simple moving average is $20.79. The company has a market capitalization of $3.57 billion, a PE ratio of 29.90 and a beta of 1.91.

International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). The business had revenue of $587.00 million for the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 earnings per share. As a group, sell-side analysts anticipate that International Game Technology will post 1 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 4.46%. The ex-dividend date was Tuesday, November 26th. International Game Technology’s payout ratio is presently 133.33%.

Hedge Funds Weigh In On International Game Technology

Several hedge funds and other institutional investors have recently modified their holdings of IGT. Solel Partners LP acquired a new stake in International Game Technology in the second quarter valued at about $43,478,000. Long Pond Capital LP bought a new position in shares of International Game Technology in the second quarter worth about $32,053,000. Massachusetts Financial Services Co. MA boosted its stake in shares of International Game Technology by 17.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 7,743,447 shares of the company’s stock valued at $158,431,000 after purchasing an additional 1,169,999 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after purchasing an additional 995,570 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its position in International Game Technology by 80.8% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,202,620 shares of the company’s stock worth $25,616,000 after purchasing an additional 537,330 shares in the last quarter. 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.