International Game Technology (IGT) Given Average Recommendation of “Hold” by Analysts
International Game Technology (NYSE:IGT) has been given a consensus rating of “Hold” by the six analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $26.50.
A number of equities analysts have recently commented on the stock. ValuEngine lowered shares of International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Telsey Advisory Group reduced their target price on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, May 26th. BidaskClub lowered shares of International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation reaffirmed a “neutral” rating and set a $27.00 target price (up from $22.00) on shares of International Game Technology in a research report on Sunday, May 28th.
Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its position in International Game Technology by 38.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock worth $118,000 after buying an additional 1,398 shares in the last quarter. SG Americas Securities LLC acquired a new position in International Game Technology during the first quarter worth about $125,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in International Game Technology by 14.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 6,200 shares of the company’s stock worth $147,000 after buying an additional 800 shares in the last quarter. LSV Asset Management acquired a new position in International Game Technology during the first quarter worth about $170,000. Finally, Koch Industries Inc. acquired a new position in International Game Technology during the first quarter worth about $219,000. Hedge funds and other institutional investors own 37.42% of the company’s stock.
International Game Technology (IGT) traded down 0.15% during mid-day trading on Friday, reaching $20.00. The company’s stock had a trading volume of 1,388,688 shares. The stock’s market cap is $4.06 billion. The firm’s 50 day moving average is $19.32 and its 200-day moving average is $21.80. International Game Technology has a one year low of $17.25 and a one year high of $32.07.
International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The business’s revenue was down 5.1% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. Equities analysts expect that International Game Technology will post $1.14 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Friday, August 11th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.00%. International Game Technology’s dividend payout ratio is presently -142.86%.
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International Game Technology Company Profile
International Game Technology (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. The Company is a supplier of gaming entertainment products worldwide.
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