Shares of International Game Technology (NYSE:IGT) have been given an average rating of “Buy” by the seven research firms that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $30.70.
A number of equities research analysts recently commented on IGT shares. Bank of America lifted their target price on International Game Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, November 15th. Deutsche Bank lifted their price target on International Game Technology to $34.00 and gave the company a “buy” rating in a research report on Monday, November 20th. ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Argus upgraded International Game Technology from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Wednesday, November 29th.
International Game Technology (NYSE IGT) traded up $0.56 during trading on Thursday, hitting $27.24. The company had a trading volume of 1,398,300 shares, compared to its average volume of 1,521,979. The company has a debt-to-equity ratio of 2.66, a current ratio of 0.84 and a quick ratio of 0.70. International Game Technology has a 12-month low of $17.25 and a 12-month high of $29.36. The firm has a market capitalization of $5,275.33, a P/E ratio of 15.15 and a beta of 1.56.
International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, November 14th. The company reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.16. International Game Technology had a positive return on equity of 10.68% and a negative net margin of 18.62%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. analysts expect that International Game Technology will post 1.23 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Monday, November 27th. International Game Technology’s dividend payout ratio is currently -17.78%.
Hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale raised its position in International Game Technology by 101.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,790 shares of the company’s stock valued at $116,000 after acquiring an additional 2,911 shares in the last quarter. Pinnacle Associates Ltd. raised its position in International Game Technology by 14.4% during the second quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock valued at $210,000 after acquiring an additional 1,445 shares in the last quarter. Sigma Planning Corp purchased a new stake in shares of International Game Technology in the third quarter valued at approximately $214,000. Cadence Capital Management LLC increased its position in shares of International Game Technology by 18.2% in the second quarter. Cadence Capital Management LLC now owns 12,670 shares of the company’s stock valued at $232,000 after buying an additional 1,948 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of International Game Technology in the second quarter valued at approximately $273,000. Institutional investors own 40.64% of the company’s stock.
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About International Game Technology
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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