International Game Technology Given Consensus Recommendation of “Hold” by Brokerages (NYSE:IGT)
International Game Technology (NYSE:IGT) has received a consensus recommendation of “Hold” from the sixteen analysts that are covering the company, Analyst Ratings Network.com reports. One research analyst has rated the stock with a sell recommendation, seven have issued a hold recommendation and one has given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $15.35.
A number of research firms have recently commented on IGT. Analysts at Janney Montgomery Scott reiterated a “neutral” rating on shares of International Game Technology in a research note on Wednesday, April 23rd. They now have a $12.00 price target on the stock, down previously from $13.00. Separately, analysts at Sterne Agee cut their price target on shares of International Game Technology from $16.50 to $15.00 in a research note on Wednesday, April 2nd. Finally, analysts at Citigroup Inc. cut their price target on shares of International Game Technology from $21.00 to $17.50 in a research note on Thursday, March 27th.
Shares of International Game Technology (NYSE:IGT) opened at 12.29 on Friday. International Game Technology has a 1-year low of $12.16 and a 1-year high of $21.20. The stock’s 50-day moving average is $13.47 and its 200-day moving average is $15.8. The company has a market cap of $3.044 billion and a price-to-earnings ratio of 13.61. International Game Technology also was the target of a significant decrease in short interest in April. As of April 15th, there was short interest totalling 13,444,244 shares, a decrease of 17.1% from the March 31st total of 16,223,638 shares. Currently, 5.5% of the shares of the stock are short sold. Based on an average daily volume of 4,083,105 shares, the short-interest ratio is presently 3.3 days.
International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, April 22nd. The company reported $0.20 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.19 by $0.01. The company had revenue of $512.80 million for the quarter, compared to the consensus estimate of $498.14 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The company’s quarterly revenue was down 14.5% on a year-over-year basis. Analysts expect that International Game Technology will post $1.03 EPS for the current fiscal year.
International Game Technology (NYSE:IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming.
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