International Game Technology (NYSE:IGT) has earned a consensus recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $26.50.
Several research analysts have commented on IGT shares. Telsey Advisory Group lowered their price target on shares of International Game Technology from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, May 26th. ValuEngine cut shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Bank of America Corporation reiterated a “neutral” rating and set a $27.00 price target (up previously from $22.00) on shares of International Game Technology in a report on Sunday, May 28th. Finally, BidaskClub upgraded shares of International Game Technology from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
Shares of International Game Technology (NYSE:IGT) traded down 0.15% during midday trading on Friday, reaching $20.00. 1,388,688 shares of the company’s stock traded hands. The stock’s market capitalization is $4.06 billion. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07. The firm’s 50-day moving average price is $19.32 and its 200 day moving average price is $21.80.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.32 by $0.17. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm earned $0.43 EPS. The company’s revenue was down 5.1% on a year-over-year basis. On average, equities analysts predict that International Game Technology will post $1.14 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 24th. Stockholders of record on Friday, August 11th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 4.00%. The ex-dividend date is Wednesday, August 9th. International Game Technology’s payout ratio is -142.86%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its position in shares of International Game Technology by 38.9% in the first quarter. PNC Financial Services Group Inc. now owns 4,989 shares of the company’s stock valued at $118,000 after buying an additional 1,398 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of International Game Technology during the first quarter valued at about $125,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted its position in shares of International Game Technology by 14.8% in the first quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 6,200 shares of the company’s stock valued at $147,000 after buying an additional 800 shares during the last quarter. LSV Asset Management bought a new position in shares of International Game Technology during the first quarter valued at about $170,000. Finally, Pinnacle Associates Ltd. boosted its position in shares of International Game Technology by 14.4% in the second quarter. Pinnacle Associates Ltd. now owns 11,467 shares of the company’s stock valued at $210,000 after buying an additional 1,445 shares during the last quarter. Institutional investors and hedge funds own 37.42% 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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