International Game Technology (NYSE:IGT) PT Lowered to $26.00

International Game Technology (NYSE:IGT) had its price target cut by Truist Financial from $28.00 to $26.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Argus dropped their price objective on International Game Technology from $30.00 to $27.00 and set a buy rating for the company in a report on Wednesday, March 13th. Jefferies Financial Group reiterated a hold rating and issued a $29.00 price objective (down previously from $36.00) on shares of International Game Technology in a report on Thursday, January 4th. Stifel Nicolaus reiterated a hold rating and issued a $26.00 price objective (down previously from $30.00) on shares of International Game Technology in a report on Wednesday, March 13th. StockNews.com upgraded International Game Technology from a buy rating to a strong-buy rating in a report on Wednesday, April 3rd. Finally, B. Riley began coverage on International Game Technology in a report on Friday, April 5th. They issued a buy rating and a $30.00 price objective for the company. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $31.00.

International Game Technology Trading Up 0.4 %

IGT stock opened at $20.52 on Tuesday. The company has a market cap of $4.08 billion, a P/E ratio of 26.99 and a beta of 1.94. International Game Technology has a twelve month low of $19.54 and a twelve month high of $33.99. The company has a quick ratio of 1.07, a current ratio of 1.26 and a debt-to-equity ratio of 2.90. The business has a fifty day moving average of $22.92 and a 200-day moving average of $25.71.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, March 12th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.11. The company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.11 billion. International Game Technology had a return on equity of 21.10% and a net margin of 3.62%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. As a group, equities research analysts expect that International Game Technology will post 1.46 EPS for the current year.

International Game Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 9th. Shareholders of record on Tuesday, March 26th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.80 annualized dividend and a dividend yield of 3.90%. International Game Technology’s dividend payout ratio (DPR) is currently 105.26%.

Institutional Investors Weigh In On International Game Technology

Several large investors have recently modified their holdings of the business. Capital Research Global Investors increased its holdings in shares of International Game Technology by 102.1% in the fourth quarter. Capital Research Global Investors now owns 6,193,990 shares of the company’s stock worth $169,777,000 after acquiring an additional 3,129,559 shares in the last quarter. Parsifal Capital Management LP boosted its position in shares of International Game Technology by 40.8% during the fourth quarter. Parsifal Capital Management LP now owns 4,290,025 shares of the company’s stock worth $117,590,000 after buying an additional 1,243,514 shares during the period. Wellington Management Group LLP boosted its position in shares of International Game Technology by 23.1% during the fourth quarter. Wellington Management Group LLP now owns 2,717,801 shares of the company’s stock worth $74,495,000 after buying an additional 509,722 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in shares of International Game Technology by 2.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,926,717 shares of the company’s stock worth $58,419,000 after buying an additional 42,552 shares during the period. Finally, Invesco Ltd. boosted its position in shares of International Game Technology by 2.3% during the third quarter. Invesco Ltd. now owns 1,600,691 shares of the company’s stock worth $48,533,000 after buying an additional 35,911 shares during the period. 44.33% of the stock is currently owned by institutional investors.

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.