International Game Technology (NYSE:IGT) Reaches New 1-Year Low at $11.89

International Game Technology PLC (NYSE:IGT) shares hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $11.89 and last traded at $11.92, with a volume of 248609 shares trading hands. The stock had previously closed at $13.06.

Separately, ValuEngine upgraded shares of International Game Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. International Game Technology has a consensus rating of “Buy” and a consensus target price of $23.64.

The company has a debt-to-equity ratio of 2.87, a current ratio of 0.83 and a quick ratio of 0.74. The business’s fifty day moving average price is $13.33. The firm has a market cap of $2.67 billion, a PE ratio of 12.01, a PEG ratio of 1.05 and a beta of 1.28.

International Game Technology (NYSE:IGT) last posted its earnings results on Thursday, August 1st. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.31 by $0.13. International Game Technology had a negative net margin of 0.72% and a positive return on equity of 8.51%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the firm posted $0.28 EPS. The firm’s revenue for the quarter was up 2.7% on a year-over-year basis. Analysts expect that International Game Technology PLC will post 1.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $0.80 annualized dividend and a yield of 6.80%. International Game Technology’s dividend payout ratio (DPR) is currently 81.63%.

A number of large investors have recently bought and sold shares of IGT. Cerebellum GP LLC grew its holdings in shares of International Game Technology by 151.2% during the first quarter. Cerebellum GP LLC now owns 24,633 shares of the company’s stock worth $320,000 after buying an additional 14,827 shares in the last quarter. Stifel Financial Corp purchased a new stake in shares of International Game Technology during the fourth quarter worth about $295,000. Lazard Asset Management LLC grew its holdings in shares of International Game Technology by 33.1% during the first quarter. Lazard Asset Management LLC now owns 3,971,479 shares of the company’s stock worth $51,588,000 after buying an additional 988,705 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of International Game Technology by 12.9% during the fourth quarter. Geode Capital Management LLC now owns 275,492 shares of the company’s stock worth $4,029,000 after buying an additional 31,499 shares in the last quarter. Finally, Knott David M purchased a new stake in shares of International Game Technology during the first quarter worth about $1,494,000. Hedge funds and other institutional investors own 41.76% of the company’s stock.

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 four segments: North America Gaming and Interactive, North America Lottery, International, and Italy.

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