International Game Technology PLC (NYSE:IGT – Get Rating) declared a quarterly dividend on Tuesday, May 10th, Zacks reports. Stockholders of record on Tuesday, May 24th will be paid a dividend of 0.20 per share on Tuesday, June 7th. This represents a $0.80 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, May 23rd.
International Game Technology has decreased its dividend by an average of 37.0% annually over the last three years. International Game Technology has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect International Game Technology to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 44.4%.
Shares of NYSE IGT traded up $1.06 during midday trading on Wednesday, hitting $21.13. 23,932 shares of the company’s stock were exchanged, compared to its average volume of 1,915,528. International Game Technology has a 12-month low of $17.27 and a 12-month high of $32.95. The company has a current ratio of 1.30, a quick ratio of 1.20 and a debt-to-equity ratio of 3.29. The company has a market cap of $4.30 billion, a price-to-earnings ratio of 9.08 and a beta of 1.93. The business’s fifty day moving average price is $23.52 and its two-hundred day moving average price is $26.53.
Several large investors have recently added to or reduced their stakes in IGT. BlackRock Inc. boosted its stake in shares of International Game Technology by 9.5% during the fourth quarter. BlackRock Inc. now owns 11,013,922 shares of the company’s stock valued at $318,413,000 after purchasing an additional 955,108 shares during the period. Morgan Stanley raised its holdings in shares of International Game Technology by 147.7% during the second quarter. Morgan Stanley now owns 1,248,905 shares of the company’s stock valued at $29,924,000 after acquiring an additional 744,706 shares in the last quarter. Marshall Wace LLP raised its holdings in shares of International Game Technology by 1,005.1% during the fourth quarter. Marshall Wace LLP now owns 293,784 shares of the company’s stock valued at $8,494,000 after acquiring an additional 267,200 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of International Game Technology by 48.0% during the first quarter. JPMorgan Chase & Co. now owns 435,238 shares of the company’s stock valued at $10,742,000 after acquiring an additional 141,105 shares in the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in shares of International Game Technology by 30.1% during the fourth quarter. Parametric Portfolio Associates LLC now owns 493,500 shares of the company’s stock valued at $14,267,000 after acquiring an additional 114,199 shares in the last quarter. 44.33% of the stock is owned by hedge funds and other institutional investors.
IGT has been the subject of several research reports. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday. Credit Suisse Group increased their price objective on International Game Technology from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Wednesday, March 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on International Game Technology from $39.00 to $37.00 in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $42.20.
About International Game Technology (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.
- Get a free copy of the StockNews.com research report on International Game Technology (IGT)
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