International Game Technology PLC (IGT) to Issue Quarterly Dividend of $0.20 on March 25th

International Game Technology PLC (NYSE:IGT) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 annualized dividend and a yield of 4.36%. The ex-dividend date is Tuesday, March 11th.

International Game Technology has raised its dividend by an average of 58.7% per year over the last three years. International Game Technology has a payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect International Game Technology to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 64.0%.

International Game Technology Trading Up 1.8 %

Shares of IGT opened at $18.35 on Thursday. International Game Technology has a 52-week low of $16.42 and a 52-week high of $27.27. The business’s fifty day moving average is $17.33 and its 200-day moving average is $19.51. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36. The firm has a market cap of $3.65 billion, a price-to-earnings ratio of 30.58 and a beta of 1.91.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts anticipate that International Game Technology will post 1.24 EPS for the current fiscal year.

Analyst Ratings Changes

IGT has been the topic of a number of research reports. StockNews.com lowered International Game Technology from a “buy” rating to a “hold” rating in a research report on Wednesday. Truist Financial reduced their price objective 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.00.

About International Game Technology

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.