Analysts Set International Game Technology PLC (NYSE:IGT) Price Target at $28.67

International Game Technology PLC (NYSE:IGT) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $28.67.

Separately, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

Institutional Investors Weigh In On International Game Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA boosted its stake in shares of International Game Technology by 0.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock worth $165,946,000 after purchasing an additional 47,442 shares during the period. FMR LLC lifted its stake in International Game Technology by 19.4% in the third quarter. FMR LLC now owns 3,050,447 shares of the company’s stock worth $64,975,000 after purchasing an additional 495,962 shares during the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of International Game Technology by 75.5% during the second quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after buying an additional 995,570 shares during the period. Solel Partners LP bought a new position in shares of International Game Technology during the second quarter valued at approximately $43,478,000. Finally, State Street Corp raised its holdings in shares of International Game Technology by 1.0% in the third quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after buying an additional 21,295 shares during the period. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

International Game Technology Stock Down 0.5 %

Shares of IGT opened at $18.70 on Friday. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85. International Game Technology has a 12-month low of $18.56 and a 12-month high of $28.82. The business’s 50 day moving average is $20.09 and its 200 day moving average is $20.82. The company has a market capitalization of $3.72 billion, a PE ratio of 31.17 and a beta of 1.91.

International Game Technology (NYSE:IGT) last released its earnings results on Tuesday, November 12th. The company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.22 by ($0.24). The company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. International Game Technology’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the firm posted $0.52 EPS. Research analysts expect that International Game Technology will post 1 earnings per share for the current fiscal year.

International Game Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th were paid a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.28%. International Game Technology’s payout ratio is currently 133.34%.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and 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, as well as iLottery solutions and services.