Shares of International Game Technology PLC (NYSE:IGT – Get Rating) have received a consensus rating of “Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating. The average 12-month price objective among analysts that have covered the stock in the last year is $35.00.
A number of research firms have recently weighed in on IGT. Jefferies Financial Group raised International Game Technology from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $30.00 to $26.00 in a research note on Thursday, May 12th. StockNews.com raised International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, August 16th. Truist Financial decreased their price objective on International Game Technology from $36.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Stifel Nicolaus decreased their price objective on International Game Technology from $36.00 to $26.00 in a research note on Monday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on International Game Technology from $35.00 to $30.00 in a research note on Wednesday, August 3rd.
Institutional investors weigh in on international gaming technology
Several institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. raised its stake in shares of International Game Technology by 87.3% in the second quarter. Goldman Sachs Group Inc. now owns 2,343,145 shares of the company’s stock valued at $43,488,000 after purchasing an additional 1,092,029 shares during the last quarter. Saltoro Capital LP bought a new stake in shares of International Game Technology in the second quarter worth about $1,392,000. Captrust Financial Advisors raised its stake in shares of International Game Technology by 9.8% in the second quarter. Captrust Financial Advisors now owns 6,582 shares of the company’s stock valued at $122,000 after purchasing an additional 586 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of International Game Technology by 341.9% in the second quarter. Woodline Partners LP now owns 210,783 shares of the company’s stock valued at $3,912,000 after buying an additional 163,088 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in shares of International Game Technology in the second quarter valued at about $245,000. 44.33% of the shares are owned by institutional investors.
Game Technology International Performance
Shares of IGT opened at $20.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.56, and a debt-to-equity ratio of 3.53. The business has a 50 day simple moving average of $19.44 and a two hundred day simple moving average of $22.43. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 26.56 and a beta of 1.83. International Gaming Technology has a 52-week low of $16.46 and a 52-week high of $32.95.
International Gaming Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 30th. Shareholders of record on Tuesday, August 16th will be paid a $0.20 dividend. This represents an annual dividend of $0.80 and a dividend yield of 3.91%. The ex-dividend date is Monday, August 15th. International Gaming Technology’s payout ratio is 103.90%.
Company Profile of International Gaming Technology
International Game Technology PLC operates and provides game 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 set of point-of-sale machines that reconcile lottery funds between the retailer and the 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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