Shares of International Game Technology PLC (NYSE:IGT – Get Rating) saw strong trading volume on Monday . 347,929 shares were traded during mid-day trading, a decline of 53% from the previous session's volume of 746,295 shares.The stock last traded at $25.41 and had previously closed at $24.99.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of International Game Technology from a "buy" rating to a "strong-buy" rating in a research report on Tuesday, November 15th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, International Game Technology presently has a consensus rating of "Buy" and a consensus target price of $35.00.
Get International Game Technology alerts:International Game Technology Stock Up 2.4 %
The firm's fifty day moving average price is $23.91 and its 200-day moving average price is $20.64. The company has a debt-to-equity ratio of 2.64, a current ratio of 1.16 and a quick ratio of 1.01. The firm has a market capitalization of $5.21 billion, a P/E ratio of 14.55 and a beta of 1.85.
International Game Technology (NYSE:IGT – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $1.06. The business had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.01 billion. International Game Technology had a net margin of 8.56% and a return on equity of 24.78%. The business's revenue was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.31 earnings per share. As a group, equities research analysts forecast that International Game Technology PLC will post 1.92 earnings per share for the current year.International Game Technology Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Monday, November 28th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.13%. The ex-dividend date was Friday, November 25th. International Game Technology's dividend payout ratio is presently 45.45%.
Institutional Trading of International Game Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Trexquant Investment LP purchased a new stake in shares of International Game Technology in the 2nd quarter valued at approximately $1,028,000. Raymond James & Associates lifted its position in shares of International Game Technology by 2.0% in the 3rd quarter. Raymond James & Associates now owns 228,725 shares of the company's stock valued at $3,614,000 after acquiring an additional 4,512 shares in the last quarter. Saltoro Capital LP purchased a new stake in shares of International Game Technology in the 2nd quarter valued at approximately $55,000. Measured Wealth Private Client Group LLC lifted its position in shares of International Game Technology by 64.8% in the 2nd quarter. Measured Wealth Private Client Group LLC now owns 21,390 shares of the company's stock valued at $397,000 after acquiring an additional 8,411 shares in the last quarter. Finally, WBI Investments Inc. purchased a new stake in shares of International Game Technology in the 3rd quarter valued at approximately $944,000. 44.33% of the stock is owned by institutional investors and hedge funds.
About International Game Technology
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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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