Trade Report: Today, International Game Technology PLC (IGT) Receives $25.40 Consensus Target Price from Brokerages

Today, International Game Technology PLC (IGT) Receives $25.40 Consensus Target Price from Brokerages

Shares of International Game Technology PLC (NYSE:IGT) have received a consensus rating of “Buy” from the six brokerages that are covering the stock. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $25.40.

A number of brokerages have issued reports on IGT. Telsey Advisory Group lifted their price objective on International Game Technology PLC from $26.00 to $28.00 and gave the company an “outperform” rating in a report on Wednesday, September 28th. Argus began coverage on International Game Technology PLC in a report on Friday, September 16th. They set a “buy” rating and a $30.00 price objective for the company. Finally, Bank of America Corp. lifted their price target on International Game Technology PLC from $23.00 to $27.00 and gave the company a “buy” rating in a report on Tuesday, September 13th.

International Game Technology PLC (NYSE:IGT) opened at 26.57 on Tuesday. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 106.28 and a beta of 1.81. The stock’s 50 day moving average is $27.88 and its 200 day moving average is $22.59. International Game Technology PLC has a 52-week low of $12.48 and a 52-week high of $32.07.

International Game Technology PLC (NYSE:IGT) last issued its quarterly earnings data on Monday, November 21st. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.01. The company earned $1.27 billion during the quarter, compared to analysts’ expectations of $1.25 billion. International Game Technology PLC had a return on equity of 12.45% and a net margin of 0.99%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period last year, the business earned $0.41 earnings per share. Equities research analysts forecast that International Game Technology PLC will post $2.00 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, December 5th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.80 dividend on an annualized basis and a yield of 3.01%. International Game Technology PLC’s payout ratio is 307.69%.

Hedge funds have recently made changes to their positions in the company. Synovus Financial Corp raised its stake in shares of International Game Technology PLC by 0.5% in the second quarter. Synovus Financial Corp now owns 8,686 shares of the company’s stock worth $166,000 after buying an additional 44 shares during the last quarter. Rhumbline Advisers raised its stake in shares of International Game Technology PLC by 0.4% in the second quarter. Rhumbline Advisers now owns 63,676 shares of the company’s stock worth $1,193,000 after buying an additional 229 shares during the last quarter. Amalgamated Bank raised its stake in shares of International Game Technology PLC by 2.6% in the second quarter. Amalgamated Bank now owns 11,370 shares of the company’s stock worth $251,000 after buying an additional 285 shares during the last quarter. Utah Retirement Systems raised its stake in shares of International Game Technology PLC by 1.8% in the second quarter. Utah Retirement Systems now owns 17,100 shares of the company’s stock worth $320,000 after buying an additional 300 shares during the last quarter. Finally, BlackRock Advisors LLC raised its stake in shares of International Game Technology PLC by 1.7% in the third quarter. BlackRock Advisors LLC now owns 37,478 shares of the company’s stock worth $914,000 after buying an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 36.21% of the company’s stock.

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