Analysts Set International Game Technology PLC (NYSE:IGT) Price Target at $28.00

International Game Technology PLC (NYSE:IGT) has been assigned an average recommendation of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $28.00.

Several equities research analysts recently commented on the stock. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Truist Financial dropped their price target on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th.

Hedge Funds Weigh In On International Game Technology

A number of hedge funds have recently added to or reduced their stakes in the company. BBR Partners LLC increased its holdings in shares of International Game Technology by 16.7% in the 4th quarter. BBR Partners LLC now owns 35,000 shares of the company’s stock worth $618,000 after purchasing an additional 5,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in International Game Technology in the 4th quarter worth about $630,000. Victory Capital Management Inc. raised its position in International Game Technology by 4.2% in the 4th quarter. Victory Capital Management Inc. now owns 15,519 shares of the company’s stock worth $274,000 after buying an additional 622 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in International Game Technology by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company’s stock valued at $20,549,000 after acquiring an additional 31,408 shares during the period. Finally, Peregrine Capital Management LLC boosted its holdings in shares of International Game Technology by 1.7% during the 4th quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company’s stock valued at $11,318,000 after acquiring an additional 10,901 shares during the last quarter. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Down 0.5 %

Shares of NYSE:IGT opened at $16.64 on Friday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. International Game Technology has a 52-week low of $16.42 and a 52-week high of $27.27. The firm has a market capitalization of $3.31 billion, a P/E ratio of 27.73 and a beta of 1.91. The stock has a 50 day moving average price of $17.76 and a 200-day moving average price of $19.95.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). The firm had revenue of $587.00 million during the quarter, compared to the consensus estimate of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s revenue for the quarter was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. As a group, equities research analysts anticipate that International Game Technology will post 1.23 EPS for the current fiscal year.

International Game Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 26th were paid a $0.20 dividend. The ex-dividend date was Tuesday, November 26th. This represents a $0.80 annualized dividend and a dividend yield of 4.81%. International Game Technology’s dividend payout ratio is presently 133.34%.

International Game Technology Company Profile

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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.