StockNews.com cut shares by International Game Technology (NYSE:IGT – Get a Grade) from a buy rating to a hold rating in a research note released Monday morning.
Separately, Credit Suisse Group raised its price target on International Game Technology shares from $59.00 to $63.00 and gave the stock an outperform rating in a Wednesday 2 March. Two equity research analysts gave the stock a hold rating and four gave the stock a buy rating. Based on data from MarketBeat, International Game Technology currently has a consensus buy rating and a consensus target price of $43.20.
NYSE IGT shares opened at $22.46 on Monday. The company has a market capitalization of $4.57 billion, a PE ratio of 9.64 and a beta of 1.98. International Game Technology has a 12-month low of $16.26 and a 12-month high of $32.95. The company has a debt ratio of 3.29, a current ratio of 1.30 and a quick ratio of 1.20. The company has a 50-day simple moving average of $24.47 and a 200-day simple moving average of $26.88.
International Game Technology (NYSE:IGT – Get Rating) last released its results on Tuesday, March 1. The company reported earnings per share (EPS) of $0.09 for the quarter, missing Thomson Reuters consensus estimate of $0.39 per ($0.30). International Game Technology achieved a return on equity of 3.59% and a net margin of 11.78%. The company posted revenue of $1.05 billion in the quarter, against analyst estimates of $1.02 billion. On average, analysts expect International Game Technology to post EPS of 1.43 for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 29. Shareholders of record on Tuesday, March 15 received a dividend of $0.20 per share. The ex-dividend date was Monday, March 14. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 3.56%. International Game Technology’s payout ratio is currently 34.33%.
Hedge funds and other institutional investors have recently been buying and selling shares of the company. Kestra Advisory Services LLC increased its position in shares of International Game Technology by 1.8% during the fourth quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company worth $757,000 after purchasing an additional 459 shares in the last quarter. Cordatus Wealth Management LLC acquired a new position in shares of International Game Technology during the third quarter worth $975,000. Dark Forest Capital Management LP acquired a new position in shares of International Game Technology during the third quarter worth $54,000. Macquarie Group Ltd. increased its position in shares of International Game Technology by 37.7% during the third quarter. Macquarie Group Ltd. now owns 385,362 shares of the company worth $10,143,000 after purchasing an additional 105,440 shares in the last quarter. Finally, Henry James International Management Inc. increased its stake in shares of International Game Technology by 3.2% in the fourth quarter. Henry James International Management Inc. now owns 67,972 shares of the company worth $1,965,000 after purchasing an additional 2,087 shares in the last quarter. 44.33% of the shares are currently held by institutional investors and hedge funds.
International Gaming Technology Company Profile (Get a rating)
International Game Technology PLC operates and provides game 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 the 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.
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