International Game Technology (NYSE:IGT) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of International Game Technology (NYSE:IGTGet Rating) from a hold rating to a buy rating in a research report released on Tuesday.

Separately, Credit Suisse Group increased their price objective on shares of International Game Technology from $59.00 to $63.00 and gave the company an outperform rating in a research report on Wednesday, March 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, International Game Technology has an average rating of Buy and an average target price of $40.80.

Shares of International Game Technology stock opened at $21.67 on Tuesday. The company has a market cap of $4.41 billion, a price-to-earnings ratio of 9.50 and a beta of 1.93. The company’s 50 day moving average is $23.27 and its 200 day moving average is $26.36. International Game Technology has a twelve month low of $17.27 and a twelve month high of $32.95. The company has a quick ratio of 1.20, a current ratio of 1.43 and a debt-to-equity ratio of 3.51.

International Game Technology (NYSE:IGTGet Rating) last issued its quarterly earnings data on Tuesday, May 10th. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. International Game Technology had a net margin of 11.37% and a return on equity of 3.35%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 earnings per share. Sell-side analysts expect that International Game Technology will post 1.44 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 7th. Shareholders of record on Tuesday, May 24th will be given a $0.20 dividend. The ex-dividend date of this dividend is Monday, May 23rd. This represents a $0.80 annualized dividend and a yield of 3.69%. International Game Technology’s payout ratio is presently 35.09%.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in shares of International Game Technology by 0.6% in the fourth quarter. California State Teachers Retirement System now owns 54,397 shares of the company’s stock worth $1,573,000 after purchasing an additional 350 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in International Game Technology by 1.0% during the third quarter. Los Angeles Capital Management LLC now owns 43,964 shares of the company’s stock valued at $1,157,000 after acquiring an additional 430 shares in the last quarter. O Shaughnessy Asset Management LLC grew its stake in International Game Technology by 4.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 11,138 shares of the company’s stock valued at $322,000 after acquiring an additional 437 shares in the last quarter. Kestra Advisory Services LLC grew its stake in International Game Technology by 1.8% during the fourth quarter. Kestra Advisory Services LLC now owns 26,178 shares of the company’s stock valued at $757,000 after acquiring an additional 459 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in International Game Technology by 84.9% during the first quarter. Parkside Financial Bank & Trust now owns 1,163 shares of the company’s stock valued at $29,000 after acquiring an additional 534 shares in the last quarter. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Company Profile (Get Rating)

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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Analyst Recommendations for International Game Technology (NYSE:IGT)

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