International Game Technology PLC (NYSE:IGT) to Issue Quarterly Dividend of $0.20

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Wednesday, February 26th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, March 11th.

International Game Technology has raised its dividend payment by an average of 58.7% per year over the last three years. International Game Technology has a dividend payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Game Technology to earn $1.25 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 64.0%.

International Game Technology Trading Up 2.3 %

IGT stock traded up $0.41 during trading on Wednesday, hitting $18.43. The company had a trading volume of 1,662,140 shares, compared to its average volume of 1,400,077. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. The business has a 50-day moving average of $17.30 and a 200-day moving average of $19.52. International Game Technology has a one year low of $16.42 and a one year high of $27.27. The stock has a market cap of $3.67 billion, a PE ratio of 30.71 and a beta of 1.91.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, February 25th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. Research analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IGT has been the topic of several research reports. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Truist Financial dropped their price target on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.00.

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.