International Game Technology (NYSE:IGT) Upgraded at StockNews.com

Posted by MarketBeat News on Sep 10th, 2023

StockNews.com upgraded shares of International Game Technology (NYSE:IGT – Free Report) from a buy rating to a strong-buy rating in a research report released on Wednesday.

IGT has been the subject of a number of other reports. Susquehanna boosted their target price on shares of International Game Technology from $49.00 to $54.00 and gave the stock a positive rating in a report on Wednesday, August 2nd. Truist Financial boosted their target price on shares of International Game Technology from $35.00 to $37.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus boosted their target price on shares of International Game Technology from $32.00 to $38.00 in a report on Monday, June 26th. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus target price of $45.17.

View Our Latest Analysis on IGT

International Game Technology Stock Performance

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IGT stock opened at $30.63 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.16 and a quick ratio of 0.99. The business has a 50-day moving average price of $32.10 and a 200 day moving average price of $28.85. The company has a market capitalization of $6.10 billion, a P/E ratio of 23.20 and a beta of 1.96. International Game Technology has a 1-year low of $15.01 and a 1-year high of $33.99.

International Game Technology (NYSE:IGT – Get Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.11. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.03 billion. International Game Technology had a return on equity of 27.29% and a net margin of 6.30%. As a group, equities research analysts forecast that International Game Technology will post 1.77 EPS for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 29th. Stockholders 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 2.61%. International Game Technology’s payout ratio is 60.61%.

Institutional Investors Weigh In On International Game Technology

Large investors have recently modified their holdings of the business. Resources Management Corp CT ADV purchased a new stake in International Game Technology in the first quarter valued at approximately $96,000. Cerity Partners LLC purchased a new stake in International Game Technology in the first quarter valued at approximately $502,000. Industrial Alliance Investment Management Inc. purchased a new stake in International Game Technology in the second quarter valued at approximately $37,000. Parkside Financial Bank & Trust boosted its position in International Game Technology by 84.9% in the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after buying an additional 534 shares during the last quarter. Finally, VisionPoint Advisory Group LLC purchased a new stake in International Game Technology in the second quarter valued at approximately $45,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

International Game Technology Company Profile

(Get Free Report)

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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