International Game Technology (NYSE: IGT – Get Rating) posted its quarterly earnings results on Tuesday. The company reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.07, RTT News reports. International Game Technology had a net margin of 11.78% and a return on equity of 3.59%. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company posted $0.38 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year.
Shares of NYSE IGT opened at $18.23 on Tuesday. The company has a market capitalization of $3.71 billion, a P/E ratio of 7.82 and a beta of 1.93. International Game Technology has a 52-week low of $17.27 and a 52-week high of $32.95. The company has a debt-to-equity ratio of 3.29, a quick ratio of 1.20 and a current ratio of 1.30. The company’s 50 day moving average price is $23.65 and its 200-day moving average price is $26.58.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 29th. Stockholders of record on Tuesday, March 15th were given a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.39%. International Game Technology’s dividend payout ratio (DPR) is currently 34.33%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Toroso Investments LLC bought a new stake in shares of International Game Technology in the 4th quarter valued at $207,000. V Wealth Advisors LLC bought a new stake in shares of International Game Technology in the 4th quarter valued at $234,000. Zacks Investment Management increased its stake in shares of International Game Technology by 14.2% in the 4th quarter. Zacks Investment Management now owns 11,379 shares of the company’s stock valued at $329,000 after acquiring an additional 1,416 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of International Game Technology in the 4th quarter valued at $562,000. Finally, LPL Financial LLC increased its stake in shares of International Game Technology by 5.4% in the 3rd quarter. LPL Financial LLC now owns 31,582 shares of the company’s stock valued at $831,000 after acquiring an additional 1,625 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.
A number of research firms have recently weighed in on IGT. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday. Credit Suisse Group lifted their target price on shares of International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 2nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $43.20.
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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