International Game Technology Hits New 1-Year Low at $12.14 (IGT)
International Game Technology (NYSE:IGT)’s share price hit a new 52-week low on Thursday , American Banking and Market News reports. The company traded as low as $12.14 and last traded at $12.15, with a volume of 1,848,954 shares traded. The stock had previously closed at $12.48.
A number of research firms have recently commented on IGT. Analysts at Ned Davis Research upgraded shares of International Game Technology from a “neutral” rating to a “buy” rating in a research note on Monday. Separately, 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. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $15.38.
The stock’s 50-day moving average is $13.20 and its 200-day moving average is $15.7. The company has a market cap of $3.038 billion and a P/E ratio of 13.70. International Game Technology also was the recipient of a large 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. Based on an average daily trading volume, of 4,083,105 shares, the short-interest ratio is presently 3.3 days. Currently, 5.5% of the company’s shares are sold short.
International Game Technology (NYSE:IGT) last posted its quarterly 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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