International Game Technology (NYSE:IGT) PT Lowered to $23.00 at Truist Financial

International Game Technology (NYSE:IGTFree Report) had its target price reduced by Truist Financial from $26.00 to $23.00 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

A number of other brokerages have also issued reports on IGT. Argus cut their price target on shares of International Game Technology from $30.00 to $27.00 and set a buy rating on the stock in a report on Wednesday, March 13th. Stifel Nicolaus restated a hold rating and issued a $24.00 target price on shares of International Game Technology in a research note on Wednesday. B. Riley initiated coverage on shares of International Game Technology in a research report on Friday, April 5th. They set a buy rating and a $30.00 target price on the stock. Finally, StockNews.com lowered International Game Technology from a strong-buy rating to a buy rating in a report on Monday, May 13th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $27.67.

View Our Latest Analysis on IGT

International Game Technology Stock Down 2.2 %

Shares of NYSE IGT opened at $20.24 on Wednesday. International Game Technology has a 1 year low of $19.48 and a 1 year high of $33.99. The firm has a 50-day simple moving average of $20.92 and a two-hundred day simple moving average of $24.60. The company has a market cap of $4.03 billion, a P/E ratio of 19.28 and a beta of 1.94. The company has a debt-to-equity ratio of 2.59, a current ratio of 0.80 and a quick ratio of 1.07.

International Game Technology (NYSE:IGTGet Free Report) last issued its quarterly earnings results on Tuesday, May 14th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.17. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.03 billion. International Game Technology had a return on equity of 20.84% and a net margin of 4.98%. International Game Technology’s quarterly revenue was up .7% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Research analysts anticipate that International Game Technology will post 1.51 earnings per share for the current year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.95%. International Game Technology’s dividend payout ratio is presently 76.19%.

Hedge Funds Weigh In On International Game Technology

A number of large investors have recently added to or reduced their stakes in IGT. SG Americas Securities LLC purchased a new position in shares of International Game Technology in the 3rd quarter valued at approximately $164,000. Allworth Financial LP grew its position in International Game Technology by 770.0% during the 3rd quarter. Allworth Financial LP now owns 957 shares of the company’s stock worth $29,000 after purchasing an additional 847 shares during the last quarter. Los Angeles Capital Management LLC raised its holdings in shares of International Game Technology by 72.4% in the third quarter. Los Angeles Capital Management LLC now owns 35,856 shares of the company’s stock worth $1,087,000 after buying an additional 15,052 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in shares of International Game Technology in the third quarter worth $768,000. Finally, Barclays PLC lifted its stake in shares of International Game Technology by 24.8% during the third quarter. Barclays PLC now owns 105,878 shares of the company’s stock worth $3,212,000 after buying an additional 21,029 shares during the period. 44.33% of the stock is currently owned by institutional investors.

International Game Technology Company Profile

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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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Analyst Recommendations for International Game Technology (NYSE:IGT)

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