International Game Technology (IGT) Given Coverage Optimism Rating of 0.56
- Author: Zachary Reyes May 28, 2017,
May 28, 2017, 22:00
International Game Technology shares last traded at $18.16, with a volume of 1,130,566 shares trading hands. Bank of America Corp cut shares of International Game Technology from a "buy" rating to a "neutral" rating and set a $30.00 price objective on the stock.in a research report on Thursday, January 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Argus Research initiated the stock with "Buy" rating in Friday, September 16 report.
Recent session action on shares of International Game Technology PLC (NYSE:IGT) puts the stock on today's active list. The company's 50-day moving average is $22.02 and its 200 day moving average is $25.15. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 20.02 and a beta of 1.51.
International Game Technology (NYSE:IGT) last posted its quarterly earnings results on Thursday, May 25th. Analysts are forecasting earnings of $0.47 on a per share basis this quarter.
On 7/26/2016 International Game Technology announced a quarterly dividend of $0.20 with an ex dividend date of 8/8/2016 which will be payable on 8/24/2016. Consolidated revenue was $1.15 billion compared to $1.28 billion in the first quarter of 2016. During the same quarter in the previous year, the business posted $0.57 EPS. Its revenue has grown at an average annualized rate of about 14.90% during the past five years.
Currently, EPS of International Game Technology PLC (IGT) is 0.29 while the analysts predicted the EPS of the stock to be 0.48 suggesting the company fell short of the analysts' expectations. Stockholders of record on Thursday, June 8th will be given a dividend of $0.20 per share. Even with dividends reinvested, that only amounts to an average annual total return of about 1.0%; so by comparison collecting a yield above 4% would appear considerably attractive if that yield is sustainable. International Game Technology's dividend payout ratio is now 307.69%.
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A number of equities research analysts have recently weighed in on IGT shares.
In the quarter ending June 2016, International Game Technology PLC delivered an even larger earnings beat. Crow Point Partners LLC acquired a new stake in shares of International Game Technology during the third quarter valued at $146,000.
On last trading day, Alliqua Biomedical Inc (NASDAQ:ALQA) traded 212608 shares and was closed at $0.38 per share. Finally, Bank of New York Mellon Corp increased its position in shares of International Game Technology by 573.7% in the first quarter. Company stock is -73.33% away from its one year high and is moving 9.71% ahead of its one year low. The fund owned 44,651 shares of the company's stock after buying an additional 33,203 shares during the period.
International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The company updated its outlook to account for the closing of the DoubleDown transaction by the end of the second quarter and the impact of new taxation on gaming machines in Italy.