Shares of International Game Technology PLC (NYSE:IGT) have been assigned a consensus rating of “Buy” from the eight research firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $32.00.

A number of research firms have recently issued reports on IGT. Credit Suisse Group began coverage on shares of International Game Technology in a report on Tuesday, August 14th. They issued a “neutral” rating and a $24.00 price objective on the stock. Union Gaming Research upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, June 15th. They noted that the move was a valuation call. ValuEngine cut shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 target price on shares of International Game Technology in a research note on Wednesday, August 1st. Finally, UBS Group raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, June 15th.

Large investors have recently added to or reduced their stakes in the stock. Trexquant Investment LP grew its stake in shares of International Game Technology by 359.0% in the second quarter. Trexquant Investment LP now owns 146,529 shares of the company’s stock valued at $3,405,000 after buying an additional 114,605 shares in the last quarter. Brookstone Capital Management grew its stake in shares of International Game Technology by 39.8% in the second quarter. Brookstone Capital Management now owns 19,893 shares of the company’s stock valued at $462,000 after buying an additional 5,664 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of International Game Technology by 56.8% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 15,530 shares of the company’s stock valued at $361,000 after buying an additional 5,628 shares in the last quarter. Bank of Montreal Can bought a new position in shares of International Game Technology in the second quarter valued at $1,720,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of International Game Technology by 317.6% in the second quarter. BNP Paribas Arbitrage SA now owns 123,211 shares of the company’s stock valued at $2,863,000 after buying an additional 93,707 shares in the last quarter. 47.07% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE IGT traded down $0.93 during midday trading on Tuesday, reaching $20.11. The company’s stock had a trading volume of 2,039,802 shares, compared to its average volume of 2,202,149. The company has a quick ratio of 0.88, a current ratio of 1.01 and a debt-to-equity ratio of 2.97. International Game Technology has a fifty-two week low of $19.57 and a fifty-two week high of $31.00. The company has a market capitalization of $4.29 billion, a PE ratio of 13.71 and a beta of 1.38.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, July 31st. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.06). International Game Technology had a negative net margin of 13.37% and a positive return on equity of 12.26%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the business earned $0.15 earnings per share. International Game Technology’s revenue for the quarter was down 1.5% on a year-over-year basis. sell-side analysts expect that International Game Technology will post 1.18 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 28th. Investors of record on Tuesday, August 14th were paid a $0.20 dividend. The ex-dividend date was Monday, August 13th. This represents a $0.80 annualized dividend and a dividend yield of 3.98%. International Game Technology’s dividend payout ratio is presently 52.63%.

About International Game Technology

International Game Technology PLC operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide. The company operates through: North America Gaming and Interactive, North America Lottery, International, and Italy segments.

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Analyst Recommendations for International Game Technology (NYSE:IGT)

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