Buckingham Research Initiates Coverage on International Game Technology (IGT)
Equities research analysts at Buckingham Research started coverage on shares of International Game Technology (NYSE:IGT) in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm set a “neutral” rating and a $15.00 price target on the stock. Buckingham Research’s target price suggests a potential downside of 5.60% from the company’s current price.
IGT has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of International Game Technology in a research note on Monday, June 16th. They now have a $15.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of International Game Technology in a research note on Monday, June 2nd. They now have a $11.00 price target on the stock, down previously from $12.00. Finally, 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, May 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $15.19.
International Game Technology (NYSE:IGT) opened at 15.99 on Friday. International Game Technology has a one year low of $12.14 and a one year high of $21.20. The stock’s 50-day moving average is $13.61 and its 200-day moving average is $14.83. The company has a market cap of $3.950 billion and a P/E ratio of 17.44. International Game Technology also saw some unusual options trading activity on Tuesday. Stock traders bought 29,261 call options on the company. This is an increase of approximately 256% compared to the typical daily volume of 8,223 call options.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.20 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.36 earnings per share. International Game Technology’s revenue was down 14.5% compared to the same quarter last year. On average, analysts predict that International Game Technology will post $1.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, July 11th. Stockholders of record on Friday, June 27th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, June 26th.
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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