International Game Technology PLC (NYSE: IGT) Receives Average Analyst ‘Buy’ Recommendation


Stocks of International Game Technology PLC (NYSE: IGT) received an average “Buy” recommendation from the seven brokerages that currently hedge the stock, MarketBeat.com reports. One research analyst rated the stock with a keep recommendation and six gave the company a buy recommendation. The 12-month average price target among brokers who reported on the stock in the past year is $ 35.50.

IGT has been the subject of a number of recent research reports. Berenberg Bank kicked off coverage on International Game Technology in a research note on Tuesday, October 19. They set a “buy” rating and a price target of $ 35 for the stock. Jefferies Financial Group Downgraded International Game Technology from a “Buy” Rating to a “Keep” Rating and Lowered its Share Price Target from $ 38.00 to $ 33.00 in a Research Note Wednesday November 17. Deutsche Bank Aktiengesellschaft raised its price target on International Game Technology from $ 32.00 to $ 42.00 and gave the stock a “buy” rating in a research note on Wednesday, November 10. Finally, Credit Suisse Group increased its price target on International Game Technology from $ 36.00 to $ 57.00 and gave the stock an “outperformance” rating in a Wednesday, November 10 research note.

Several institutional investors have recently changed their positions in IGT. BlackRock Inc. increased its stake in International Game Technology by 16.6% during the 2nd quarter. BlackRock Inc. now owns 10,954,614 shares of the company valued at $ 262,471,000 after acquiring an additional 1,562,197 shares during the last quarter. Boston Partners increased its stake in International Game Technology by 5.4% during the 3rd quarter. Boston Partners now owns 6,962,134 shares of the company valued at $ 179,958,000 after acquiring an additional 356,457 shares during the last quarter. Lazard Asset Management LLC increased its stake in International Game Technology by 9.6% during the 2nd quarter. Lazard Asset Management LLC now owns 4,790,917 shares of the company valued at $ 114,790,000 after acquiring an additional 417,737 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in International Game Technology by 55.0% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,244,249 shares of the company valued at $ 111,709,000 after acquiring 1,506,542 additional shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in International Game Technology by 12.1% during the second quarter. Neuberger Berman Group LLC now owns 3,278,448 shares of the company valued at $ 77,847,000 after acquiring an additional 354,328 shares during the last quarter. 42.59% of the shares are currently held by institutional investors and hedge funds.

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IGT shares opened at $ 25.45 on Tuesday. The company has a debt to equity ratio of 3.24, a rapid ratio of 1.21, and a current ratio of 1.31. International Game Technology has a one-year minimum of $ 12.89 and a one-year maximum of $ 32.95. The stock has a market cap of $ 5.21 billion, a price-to-earnings ratio of 24.01 and a beta of 2.14. The stock has a 50-day moving average price of $ 28.72 and a 200-day moving average price of $ 24.41.

International Game Technology (NYSE: IGT) last released its quarterly results on Tuesday, November 9. The company reported EPS of $ 0.31 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.21 of $ 0.10. The company posted revenue of $ 984.00 million in the quarter, compared to analysts’ expectations of $ 981.00 million. International Game Technology recorded a negative return on equity of 2.85% and a net margin of 5.63%. The company’s revenue for the quarter increased 20.6% year-over-year. During the same period of the previous year, the company made a profit of $ 0.26 per share. On average, analysts predict that International Game Technology will post earnings per share of 0.55 for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 7. Shareholders of record on Tuesday, November 23 will receive a dividend of $ 0.20. This represents an annualized dividend of $ 0.80 and a dividend yield of 3.14%. The ex-dividend date of this dividend is Monday, November 22. International Game Technology’s dividend payout ratio (DPR) is currently 75.47%.

Global Gaming Technology Company Profile

International Game Technology Plc is engaged in the design, manufacture and marketing of electronic game equipment, software and network systems. It operates through the Global Lottery and Global Gaming segments. The Global Lottery segment is responsible for the global traditional lottery and iLottery business, including sales, operations, product development, technology and support.

Read more: What does a neutral equity rating mean?

Analyst Recommendations for International Gaming Technology (NYSE: IGT)

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