International Game Technology (IGT) Trading 8.8% Higher

International Game Technology PLC (NYSE:IGT) traded up 8.8% on Wednesday . The stock traded as high as $16.23 and last traded at $16.15. 3,353,721 shares traded hands during trading, an increase of 26% from the average session volume of 2,661,528 shares. The stock had previously closed at $14.84.

Several equities research analysts have weighed in on the company. ValuEngine downgraded International Game Technology from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Societe Generale assumed coverage on International Game Technology in a research report on Wednesday, October 17th. They set a “buy” rating and a $20.50 price target on the stock. Credit Suisse Group assumed coverage on International Game Technology in a research report on Tuesday, August 14th. They set a “neutral” rating and a $24.00 price target on the stock. Argus cut their price target on International Game Technology from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Finally, Jefferies Financial Group cut their price target on International Game Technology from $35.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $25.21.

The company has a quick ratio of 0.88, a current ratio of 1.03 and a debt-to-equity ratio of 2.95. The stock has a market cap of $3.29 billion, a P/E ratio of 10.37, a PEG ratio of 1.47 and a beta of 1.30.

International Game Technology (NYSE:IGT) last posted its earnings results on Wednesday, October 31st. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.01. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The firm had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $0.40 EPS. The company’s quarterly revenue was down 5.3% on a year-over-year basis. As a group, research analysts forecast that International Game Technology PLC will post 1.1 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 28th. Shareholders of record on Wednesday, November 14th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date of this dividend is Tuesday, November 13th. International Game Technology’s dividend payout ratio (DPR) is 52.63%.

Hedge funds have recently added to or reduced their stakes in the company. Sanders Morris Harris LLC purchased a new stake in shares of International Game Technology during the 3rd quarter valued at approximately $453,000. Reilly Financial Advisors LLC raised its position in shares of International Game Technology by 2,035.6% during the 3rd quarter. Reilly Financial Advisors LLC now owns 6,471 shares of the company’s stock valued at $128,000 after buying an additional 6,168 shares during the period. Hilltop Holdings Inc. purchased a new stake in shares of International Game Technology during the 2nd quarter valued at approximately $234,000. Centaurus Financial Inc. purchased a new stake in shares of International Game Technology during the 2nd quarter valued at approximately $239,000. Finally, Glenmede Trust Co. NA raised its position in shares of International Game Technology by 2,792.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 11,482 shares of the company’s stock valued at $226,000 after buying an additional 11,085 shares during the period. 47.85% of the stock is currently owned by hedge funds and other institutional investors.

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International Game Technology Company Profile (NYSE:IGT)

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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