International Game Technology (NYSE:IGT) Downgraded by StockNews.com

StockNews.com cut shares of International Game Technology (NYSE:IGTGet Rating) from a buy rating to a hold rating in a research note released on Monday morning.

Separately, Credit Suisse Group raised their target price on shares of International Game Technology from $59.00 to $63.00 and gave the stock an outperform rating in a research report on Wednesday, March 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, International Game Technology presently has a consensus rating of Buy and a consensus target price of $43.20.

Shares of NYSE IGT opened at $22.46 on Monday. The company has a market cap of $4.57 billion, a PE ratio of 9.64 and a beta of 1.98. International Game Technology has a 12 month low of $16.26 and a 12 month high of $32.95. The company has a debt-to-equity ratio of 3.29, a current ratio of 1.30 and a quick ratio of 1.20. The company has a 50-day simple moving average of $24.47 and a 200-day simple moving average of $26.88.

International Game Technology (NYSE:IGTGet Rating) last released its earnings results on Tuesday, March 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by ($0.30). International Game Technology had a return on equity of 3.59% and a net margin of 11.78%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.02 billion. On average, analysts anticipate that International Game Technology will post 1.43 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Tuesday, March 15th were given a dividend of $0.20 per share. The ex-dividend date was Monday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.56%. International Game Technology’s payout ratio is currently 34.33%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC lifted its position in shares of International Game Technology by 1.8% during the fourth quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company’s stock worth $757,000 after purchasing an additional 459 shares in the last quarter. Cordatus Wealth Management LLC acquired a new position in shares of International Game Technology during the third quarter worth $975,000. Dark Forest Capital Management LP acquired a new position in shares of International Game Technology during the third quarter worth $54,000. Macquarie Group Ltd. lifted its position in shares of International Game Technology by 37.7% during the third quarter. Macquarie Group Ltd. now owns 385,362 shares of the company’s stock worth $10,143,000 after purchasing an additional 105,440 shares in the last quarter. Finally, Henry James International Management Inc. increased its stake in shares of International Game Technology by 3.2% in the fourth quarter. Henry James International Management Inc. now owns 67,972 shares of the company’s stock worth $1,965,000 after buying an additional 2,087 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

International Game Technology Company Profile (Get Rating)

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.

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