International Game Technology PLC (IGT) To Go Ex-Dividend on November 25th

International Game Technology PLC (NYSE:IGTGet Rating) announced a quarterly dividend on Thursday, November 3rd, Wall Street Journal reports. Investors of record on Monday, November 28th will be paid a dividend of 0.20 per share on Friday, December 9th. This represents a $0.80 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, November 25th.

International Game Technology has decreased its dividend payment by an average of 37.0% per year over the last three years. International Game Technology has a dividend payout ratio of 47.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect International Game Technology to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 54.1%.

International Game Technology Price Performance

International Game Technology stock opened at $24.17 on Wednesday. The company has a market capitalization of $4.92 billion, a PE ratio of 13.73 and a beta of 1.84. The stock has a 50-day moving average price of $19.26 and a two-hundred day moving average price of $19.51. The company has a current ratio of 1.16, a quick ratio of 1.01 and a debt-to-equity ratio of 2.64. International Game Technology has a 12 month low of $15.01 and a 12 month high of $30.84.

International Game Technology (NYSE:IGTGet Rating) last issued its quarterly earnings results on Tuesday, November 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.18. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. International Game Technology had a return on equity of 24.78% and a net margin of 8.56%. The business’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.31 earnings per share. Analysts expect that International Game Technology will post 1.9 EPS for the current year.

Institutional Investors Weigh In On International Game Technology

A number of hedge funds have recently added to or reduced their stakes in IGT. Occudo Quantitative Strategies LP bought a new position in shares of International Game Technology in the second quarter valued at approximately $588,000. Pearl River Capital LLC bought a new stake in International Game Technology during the first quarter worth $559,000. UBS Group AG lifted its holdings in International Game Technology by 65.9% during the third quarter. UBS Group AG now owns 26,363 shares of the company’s stock worth $416,000 after acquiring an additional 10,473 shares during the period. Federated Hermes Inc. increased its position in International Game Technology by 999.9% in the third quarter. Federated Hermes Inc. now owns 25,837 shares of the company’s stock worth $409,000 after buying an additional 23,488 shares during the last quarter. Finally, AlphaCrest Capital Management LLC purchased a new stake in International Game Technology in the first quarter worth $374,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on IGT shares. Deutsche Bank Aktiengesellschaft decreased their price target on International Game Technology from $35.00 to $30.00 in a research note on Wednesday, August 3rd. Stifel Nicolaus decreased their target price on International Game Technology from $36.00 to $26.00 in a research note on Monday, August 1st. Finally, StockNews.com raised International Game Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, November 15th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, International Game Technology currently has an average rating of “Buy” and a consensus target price of $35.00.

About International Game Technology

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International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. 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.

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Dividend History for International Game Technology (NYSE:IGT)

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