Wall Street Zen lowered shares of International Game Technology (NYSE:IGT – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday.
Other equities analysts also recently issued research reports about the stock. Argus downgraded shares of International Game Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 20th. Stifel Nicolaus restated a “buy” rating and set a $20.00 price target (down previously from $22.00) on shares of International Game Technology in a research note on Wednesday, May 21st. Truist Financial decreased their price target on shares of International Game Technology from $20.00 to $18.00 and set a “hold” rating for the company in a report on Wednesday, April 23rd. Finally, Susquehanna reissued a “positive” rating and set a $25.00 price objective (down from $30.00) on shares of International Game Technology in a report on Wednesday, May 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, International Game Technology presently has a consensus rating of “Hold” and a consensus price target of $23.25.
View Our Latest Analysis on International Game Technology
International Game Technology Price Performance
International Game Technology (NYSE:IGT – Get Free Report) last posted its quarterly earnings data on Tuesday, May 13th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $583.00 million during the quarter, compared to analyst estimates of $630.30 million. During the same period in the previous year, the business earned $0.46 EPS. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. As a group, analysts predict that International Game Technology will post 1.24 earnings per share for the current fiscal year.
International Game Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 12th. Investors of record on Thursday, May 29th were issued a $0.20 dividend. The ex-dividend date was Thursday, May 29th. This represents a $0.80 annualized dividend and a yield of 5.48%. International Game Technology’s dividend payout ratio (DPR) is presently 55.56%.
Institutional Trading of International Game Technology
Several institutional investors and hedge funds have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of International Game Technology during the fourth quarter worth $45,000. Van ECK Associates Corp grew its position in International Game Technology by 5.1% during the 4th quarter. Van ECK Associates Corp now owns 23,749 shares of the company’s stock worth $419,000 after purchasing an additional 1,145 shares during the period. Rhumbline Advisers raised its stake in shares of International Game Technology by 2.0% during the 4th quarter. Rhumbline Advisers now owns 180,285 shares of the company’s stock valued at $3,184,000 after buying an additional 3,611 shares during the last quarter. Peregrine Capital Management LLC raised its stake in shares of International Game Technology by 1.7% during the 4th quarter. Peregrine Capital Management LLC now owns 640,864 shares of the company’s stock valued at $11,318,000 after buying an additional 10,901 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of International Game Technology by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,163,601 shares of the company’s stock valued at $20,549,000 after buying an additional 31,408 shares during the period. 44.33% of the stock is currently owned by institutional investors and hedge funds.
About International Game Technology
International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services, as well as iLottery solutions and services.
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