Stifel Nicolaus upgraded shares of International Game Technology (NYSE:IGT – Free Report) from a hold rating to a buy rating in a research report sent to investors on Thursday, Marketbeat reports. They currently have $26.00 target price on the stock, up from their previous target price of $24.00.
IGT has been the topic of several other reports. Susquehanna lowered their price target on International Game Technology from $40.00 to $33.00 and set a positive rating on the stock in a research report on Thursday, May 16th. B. Riley began coverage on International Game Technology in a research report on Friday, April 5th. They set a buy rating and a $30.00 price target on the stock. Truist Financial lowered their price target on International Game Technology from $26.00 to $23.00 and set a hold rating on the stock in a research report on Wednesday, May 15th. StockNews.com cut International Game Technology from a strong-buy rating to a buy rating in a research report on Monday, May 13th. Finally, Argus lowered their price target on International Game Technology from $30.00 to $27.00 and set a buy rating on the stock in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $28.00.
Check Out Our Latest Stock Analysis on IGT
International Game Technology Stock Up 2.9 %
Shares of International Game Technology stock opened at $19.65 on Thursday. The business’s fifty day moving average price is $20.55 and its two-hundred day moving average price is $24.13. 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 company has a market capitalization of $3.91 billion, a P/E ratio of 18.71 and a beta of 1.94. International Game Technology has a 1-year low of $18.90 and a 1-year high of $33.99.
International Game Technology (NYSE:IGT – Get Free Report) last announced its earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17. The firm had revenue of $1.07 billion for 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 firm’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 EPS. As a group, research analysts forecast that International Game Technology will post 1.53 EPS for the current year.
International Game Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 30th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Thursday, May 30th. International Game Technology’s payout ratio is 76.19%.
Hedge Funds Weigh In On International Game Technology
Hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new stake in shares of International Game Technology in the fourth quarter worth $25,000. Highlander Capital Management LLC acquired a new stake in shares of International Game Technology in the fourth quarter worth $27,000. Huntington National Bank boosted its position 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 buying an additional 489 shares during the period. VisionPoint Advisory Group LLC acquired a new stake in shares of International Game Technology in the fourth quarter worth $38,000. Finally, General Partner Inc. acquired a new stake in shares of International Game Technology in the first quarter worth $45,000. 44.33% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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