BidaskClub upgraded shares of International Game Technology (NYSE:IGT) from a sell rating to a hold rating in a research report report published on Monday, July 24th.
IGT has been the subject of several other reports. ValuEngine downgraded International Game Technology from a buy rating to a hold rating in a report on Friday, June 2nd. Telsey Advisory Group reduced their price target on International Game Technology from $31.00 to $27.00 and set an outperform rating for the company in a report on Friday, May 26th. Wells Fargo & Company restated a market perform rating and set a $25.50 price target on shares of International Game Technology in a report on Wednesday, April 19th. Finally, Bank of America Corporation restated a neutral rating and set a $27.00 price target (up from $22.00) on shares of International Game Technology in a report on Sunday, May 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. International Game Technology presently has a consensus rating of Hold and an average target price of $27.38.
International Game Technology (NYSE:IGT) opened at 20.00 on Monday. The company’s 50-day moving average is $19.32 and its 200 day moving average is $21.80. The firm’s market cap is $4.06 billion. International Game Technology has a one year low of $17.25 and a one year high of $32.07.
International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by $0.17. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. International Game Technology’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. Equities analysts anticipate that International Game Technology will post $1.14 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 24th. Investors of record on Friday, August 11th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.80 annualized dividend and a dividend yield of 4.00%. International Game Technology’s dividend payout ratio (DPR) is presently -142.86%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC boosted its position in shares of International Game Technology by 104.8% in the second quarter. Renaissance Technologies LLC now owns 2,791,500 shares of the company’s stock valued at $51,084,000 after buying an additional 1,428,700 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of International Game Technology during the second quarter valued at about $20,764,000. Bank of New York Mellon Corp boosted 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 valued at $28,701,000 after buying an additional 1,031,286 shares during the last quarter. Prudential Financial Inc. boosted 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 valued at $28,977,000 after buying an additional 866,281 shares during the last quarter. Finally, FMR LLC boosted 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 valued at $56,940,000 after buying an additional 659,564 shares during the last quarter. 37.42% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for International Game Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Game Technology and related companies with MarketBeat.com's FREE daily email newsletter.