International Game Technology PLC (NYSE:IGT) has been assigned a consensus rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $24.10.
A number of equities analysts recently issued reports on the company. ValuEngine upgraded International Game Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, May 30th. Credit Suisse Group reiterated a “neutral” rating on shares of International Game Technology in a report on Wednesday, March 20th.
Several hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. bought a new position in shares of International Game Technology in the 4th quarter worth $37,000. Advisor Group Inc. increased its position in International Game Technology by 109.2% during the 1st quarter. Advisor Group Inc. now owns 2,824 shares of the company’s stock valued at $37,000 after buying an additional 1,474 shares in the last quarter. Quantamental Technologies LLC acquired a new position in International Game Technology during the 4th quarter valued at about $94,000. Investors Research Corp acquired a new position in International Game Technology during the 1st quarter valued at about $100,000. Finally, NumerixS Investment Technologies Inc increased its position in International Game Technology by 12.8% during the 1st quarter. NumerixS Investment Technologies Inc now owns 8,800 shares of the company’s stock valued at $112,000 after buying an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 41.69% of the company’s stock.
International Game Technology (NYSE:IGT) last announced its earnings results on Monday, May 20th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.11). International Game Technology had a return on equity of 7.19% and a net margin of 2.56%. The company had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm posted $0.15 EPS. International Game Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. Sell-side analysts predict that International Game Technology will post 1.13 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 6.34%. The ex-dividend date is Friday, May 31st. International Game Technology’s dividend payout ratio is 81.63%.
About International Game Technology
International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.
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