International Game Technology PLC (NYSE:IGT) Receives Consensus Rating of “Buy” from Analysts

Posted by MarketBeat News on Oct 22nd, 2023

International Game Technology PLC (NYSE:IGT – Get Free Report) has earned an average recommendation of “Buy” from the five analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a buy recommendation. The average 1 year target price among brokers that have covered the stock in the last year is $44.50.

A number of equities research analysts have recently weighed in on the stock. StockNews.com began coverage on shares of International Game Technology in a research report on Thursday, October 5th. They issued a “buy” rating for the company. Truist Financial reissued a “buy” rating and issued a $37.00 price objective on shares of International Game Technology in a research note on Friday, September 15th. Susquehanna decreased their price objective on shares of International Game Technology from $54.00 to $50.00 and set a “positive” rating on the stock in a research note on Thursday. Finally, Stifel Nicolaus lifted their price objective on shares of International Game Technology from $32.00 to $38.00 in a research note on Monday, June 26th.

Read Our Latest Research Report on IGT

Institutional Trading of International Game Technology

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Several institutional investors have recently modified their holdings of the business. Metropolitan Life Insurance Co NY raised its holdings in shares of International Game Technology by 8.8% during the second quarter. Metropolitan Life Insurance Co NY now owns 5,936 shares of the company’s stock valued at $189,000 after purchasing an additional 481 shares during the period. Penserra Capital Management LLC raised its holdings in shares of International Game Technology by 50.0% during the first quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock valued at $41,000 after purchasing an additional 518 shares during the period. Resources Management Corp CT ADV acquired a new position in shares of International Game Technology during the first quarter valued at about $96,000. Parkside Financial Bank & Trust raised its holdings in shares of International Game Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after purchasing an additional 534 shares during the period. Finally, CWM LLC raised its holdings in shares of International Game Technology by 166.5% during the third quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after purchasing an additional 561 shares during the period. Institutional investors own 44.33% of the company’s stock.

International Game Technology Stock Down 1.0 %

NYSE IGT opened at $29.71 on Friday. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 2.95. International Game Technology has a 1-year low of $18.02 and a 1-year high of $33.99. The company has a 50 day moving average of $31.07 and a 200-day moving average of $29.93. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 22.51 and a beta of 1.95.

International Game Technology (NYSE:IGT – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.11. International Game Technology had a net margin of 6.30% and a return on equity of 27.29%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. On average, equities research analysts expect that International Game Technology will post 1.78 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 29th. Shareholders of record on Tuesday, August 15th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Monday, August 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.69%. International Game Technology’s payout ratio is presently 60.61%.

International Game Technology Company Profile

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International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.