International Game Technology (NYSE:IGT) has been assigned a consensus recommendation of “Hold” from the six research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $26.50.
A number of equities analysts have issued reports on the company. ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Telsey Advisory Group cut their target price on International Game Technology from $31.00 to $27.00 and set an “outperform” rating on the stock in a research report on Friday, May 26th. Wells Fargo & Company reaffirmed a “market perform” rating and issued a $25.50 target price on shares of International Game Technology in a research report on Wednesday, April 19th. BidaskClub lowered International Game Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Bank of America Corporation reiterated a “neutral” rating and issued a $27.00 price target (up from $22.00) on shares of International Game Technology in a report on Sunday, May 28th.
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Several large investors have recently modified their holdings of IGT. Peregrine Capital Management LLC purchased a new stake in shares of International Game Technology during the second quarter worth $20,764,000. Bank of New York Mellon Corp increased its position in shares of International Game Technology by 573.7% in the first quarter. Bank of New York Mellon Corp now owns 1,211,062 shares of the company’s stock worth $28,701,000 after buying an additional 1,031,286 shares during the last quarter. Prudential Financial Inc. increased its position in shares of International Game Technology by 243.1% in the first quarter. Prudential Financial Inc. now owns 1,222,646 shares of the company’s stock worth $28,977,000 after buying an additional 866,281 shares during the last quarter. FMR LLC increased its position in shares of International Game Technology by 37.8% in the first quarter. FMR LLC now owns 2,402,519 shares of the company’s stock worth $56,940,000 after buying an additional 659,564 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of International Game Technology by 64.5% in the first quarter. Alliancebernstein L.P. now owns 892,907 shares of the company’s stock worth $21,162,000 after buying an additional 350,000 shares during the last quarter. Institutional investors and hedge funds own 38.22% of the company’s stock.
Shares of International Game Technology (NYSE:IGT) traded down 0.56% during trading on Monday, reaching $19.48. 706,136 shares of the company’s stock traded hands. International Game Technology has a 1-year low of $17.25 and a 1-year high of $32.07. The stock’s market capitalization is $3.95 billion. The company has a 50 day moving average price of $19.08 and a 200 day moving average price of $22.12.
International Game Technology (NYSE:IGT) last announced its earnings results on Tuesday, August 1st. The company reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.17. International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the company earned $0.43 earnings per share. The business’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, equities analysts forecast that International Game Technology will post $1.14 EPS for the current fiscal year.
The company also recently declared 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. The ex-dividend date is Wednesday, August 9th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.11%. International Game Technology’s dividend payout ratio (DPR) is -142.86%.
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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