International Game Technology (NYSE:IGT) Trading 5% Higher

International Game Technology PLC (NYSE:IGTGet Rating)’s share price rose 5% during mid-day trading on Wednesday . The company traded as high as $20.04 and last traded at $20.02. Approximately 2,970 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 1,924,107 shares. The stock had previously closed at $19.07.

IGT has been the topic of several research analyst reports. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Tuesday, May 10th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of International Game Technology from $39.00 to $37.00 in a research report on Wednesday, May 11th. Jefferies Financial Group raised shares of International Game Technology from a “hold” rating to a “buy” rating and reduced their price target for the company from $30.00 to $26.00 in a research report on Thursday, May 12th. Finally, Credit Suisse Group increased their target price on shares of International Game Technology from $59.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, March 2nd. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $40.80.

The company has a debt-to-equity ratio of 3.51, a quick ratio of 1.33 and a current ratio of 1.43. The company has a market capitalization of $4.17 billion, a PE ratio of 8.95 and a beta of 1.93. The company’s fifty day moving average is $22.89 and its 200-day moving average is $25.82.

International Game Technology (NYSE:IGTGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.05. International Game Technology had a return on equity of 3.35% and a net margin of 11.37%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the company posted $0.38 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts expect that International Game Technology PLC will post 1.4 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 paid a $0.20 dividend. The ex-dividend date is Monday, May 23rd. This represents a $0.80 annualized dividend and a yield of 3.91%. International Game Technology’s payout ratio is 35.09%.

A number of hedge funds have recently bought and sold shares of IGT. Parkside Financial Bank & Trust boosted its position in shares of International Game Technology by 84.9% during the 1st 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 during the last quarter. Northwestern Mutual Wealth Management Co. bought a new position in shares of International Game Technology during the 1st quarter valued at approximately $34,000. Steward Partners Investment Advisory LLC boosted its position in shares of International Game Technology by 100.0% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,200 shares of the company’s stock valued at $35,000 after acquiring an additional 600 shares during the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of International Game Technology during the 1st quarter valued at approximately $49,000. Finally, Dark Forest Capital Management LP bought a new position in shares of International Game Technology during the 3rd quarter valued at approximately $54,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

International Game Technology Company Profile (NYSE:IGT)

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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