International Game Technology (NYSE:IGT) Shares Down 2.9%

International Game Technology PLC (NYSE:IGT) fell 2.9% during mid-day trading on Thursday . The stock traded as low as $11.77 and last traded at $11.43, 151,425 shares traded hands during trading. A decline of 94% from the average session volume of 2,459,198 shares. The stock had previously closed at $11.77.

Separately, ValuEngine upgraded shares of International Game Technology from a “strong sell” rating to a “sell” rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $23.58.

The firm’s 50-day moving average is $13.31 and its 200-day moving average is $14.08. The company has a debt-to-equity ratio of 2.87, a current ratio of 0.83 and a quick ratio of 0.74. The company has a market capitalization of $2.69 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 1.05 and a beta of 1.28.

International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.13. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.16 billion. International Game Technology had a negative net margin of 0.72% and a positive return on equity of 8.51%. The company’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.28 earnings per share. As a group, analysts forecast that International Game Technology PLC will post 1.26 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be given a $0.20 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 7.04%. International Game Technology’s payout ratio is currently 81.63%.

Institutional investors and hedge funds have recently bought and sold shares of the business. Comerica Securities Inc. bought a new stake in International Game Technology during the 4th quarter worth approximately $798,000. Stifel Financial Corp bought a new position in International Game Technology in the 4th quarter valued at $295,000. Geode Capital Management LLC boosted its position in International Game Technology by 12.9% in the 4th quarter. Geode Capital Management LLC now owns 275,492 shares of the company’s stock valued at $4,029,000 after buying an additional 31,499 shares during the last quarter. Two Sigma Advisers LP bought a new position in International Game Technology in the 4th quarter valued at $336,000. Finally, FMR LLC boosted its position in International Game Technology by 145.6% in the 4th quarter. FMR LLC now owns 637,402 shares of the company’s stock valued at $9,325,000 after buying an additional 377,924 shares during the last quarter. Institutional investors and hedge funds own 41.76% of the company’s stock.

About International Game Technology (NYSE:IGT)

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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