International Game Technology Given “Neutral” Rating at Macquarie (IGT)
International Game Technology (NYSE:IGT)‘s stock had its “neutral” rating reiterated by equities research analysts at Macquarie in a research note issued to investors on Wednesday. They currently have a $18.25 price target on the stock, up from their previous price target of $15.00. Macquarie’s price objective would indicate a potential upside of 7.16% from the stock’s previous close.
Shares of International Game Technology (NYSE:IGT) traded down 0.47% on Wednesday, hitting $17.03. The stock had a trading volume of 9,572,506 shares. International Game Technology has a 52 week low of $12.14 and a 52 week high of $21.20. The stock has a 50-day moving average of $16.03 and a 200-day moving average of $14.62. The company has a market cap of $4.206 billion and a P/E ratio of 18.78.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.27 by $0.01. The company had revenue of $467.60 million for the quarter, compared to the consensus estimate of $521.90 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s quarterly revenue was down 19.2% on a year-over-year basis. Analysts expect that International Game Technology will post $1.03 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Stifel Nicolaus downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Monday, July 21st. They now have a $17.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Sidoti downgraded shares of International Game Technology from a “buy” rating to a “neutral” rating in a research note on Thursday, July 17th. Finally, analysts at Gabelli downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $15.93.
In other International Game Technology news, COO Eric A. Berg unloaded 1,651 shares of the company’s stock on the open market in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $17.21, for a total transaction of $28,413.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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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