Brokerages Set International Game Technology PLC (NYSE:IGT) Target Price at $28.67

Shares of International Game Technology PLC (NYSE:IGT) have earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $28.67.

Several brokerages recently commented on IGT. Stifel Nicolaus boosted their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

International Game Technology Price Performance

NYSE:IGT opened at $19.24 on Monday. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31. The firm has a market cap of $3.83 billion, a price-to-earnings ratio of 32.07 and a beta of 1.96. The company has a 50 day moving average price of $20.69 and a 200-day moving average price of $20.89. International Game Technology has a 1-year low of $18.56 and a 1-year high of $28.82.

International Game Technology (NYSE:IGT) last issued its quarterly 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 company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. Equities research analysts forecast that International Game Technology will post 1 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Tuesday, November 26th. International Game Technology’s payout ratio is 133.34%.

Institutional Investors Weigh In On International Game Technology

A number of large investors have recently modified their holdings of the business. Barclays PLC grew its holdings in shares of International Game Technology by 49.1% during the third quarter. Barclays PLC now owns 291,626 shares of the company’s stock worth $6,212,000 after buying an additional 96,019 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of International Game Technology by 180.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 29,932 shares of the company’s stock valued at $638,000 after acquiring an additional 19,247 shares during the last quarter. Zacks Investment Management acquired a new position in shares of International Game Technology during the 3rd quarter valued at about $645,000. State Street Corp boosted its position in shares of International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock valued at $44,800,000 after acquiring an additional 21,295 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of International Game Technology by 22.2% during the 3rd quarter. Stifel Financial Corp now owns 56,179 shares of the company’s stock valued at $1,197,000 after acquiring an additional 10,193 shares during the last quarter. Hedge funds and other 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.