International Game Technology (NYSE:IGT) Given New $35.00 Price Target at Stifel Nicolaus

Posted by MarketBeat News on Nov 5th, 2023

International Game Technology (NYSE:IGT – Free Report) had its target price decreased by Stifel Nicolaus from $39.00 to $35.00 in a research report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

IGT has been the topic of a number of other reports. Truist Financial lowered their price target on shares of International Game Technology from $37.00 to $35.00 and set a buy rating on the stock in a research note on Wednesday. Susquehanna lowered their price target 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, October 19th. Finally, StockNews.com started coverage on shares of International Game Technology in a research note on Thursday, October 5th. They set a buy rating on the stock. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $43.33.

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International Game Technology Price Performance

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Shares of IGT opened at $28.20 on Wednesday. International Game Technology has a 1-year low of $19.45 and a 1-year high of $33.99. The stock has a market cap of $5.61 billion, a PE ratio of 58.75 and a beta of 2.00. The firm has a 50-day simple moving average of $30.28 and a two-hundred day simple moving average of $29.97. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 0.99.

International Game Technology (NYSE:IGT – Get Free Report) last issued its quarterly earnings results on Tuesday, October 31st. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.13. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. International Game Technology had a net margin of 2.32% and a return on equity of 19.39%. The firm’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. As a group, analysts forecast that International Game Technology will post 1.75 EPS for the current year.

International Game Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 29th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Tuesday, November 28th. International Game Technology’s dividend payout ratio is currently 166.67%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of IGT. CWM LLC increased its stake in shares of International Game Technology by 166.5% during the 3rd quarter. CWM LLC now owns 898 shares of the company’s stock valued at $27,000 after acquiring an additional 561 shares during the last quarter. Allworth Financial LP increased its stake in shares of International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock valued at $29,000 after acquiring an additional 847 shares during the last quarter. Parkside Financial Bank & Trust increased its position in International Game Technology by 84.9% during the 1st quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock worth $29,000 after purchasing an additional 534 shares in the last quarter. Industrial Alliance Investment Management Inc. acquired a new stake in International Game Technology during the 2nd quarter worth approximately $37,000. Finally, Penserra Capital Management LLC increased its position in International Game Technology by 50.0% during the 1st quarter. Penserra Capital Management LLC now owns 1,554 shares of the company’s stock worth $41,000 after purchasing an additional 518 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

About International Game Technology

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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.

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