Jefferies Financial Group Trims International Game Technology (IGT) Target Price to $30.00

International Game Technology (NYSE:IGT) had its price objective cut by Jefferies Financial Group from $35.00 to $30.00 in a report published on Thursday, MarketBeat reports. They currently have a buy rating on the stock.

Several other brokerages also recently issued reports on IGT. ValuEngine downgraded International Game Technology from a sell rating to a strong sell rating in a research report on Monday, October 8th. SunTrust Banks started coverage on International Game Technology in a research report on Monday, October 1st. They issued a hold rating and a $21.00 price objective for the company. Credit Suisse Group began coverage on International Game Technology in a research report on Tuesday, August 14th. They issued a neutral rating and a $24.00 price objective for the company. Finally, Societe Generale began coverage on International Game Technology in a research report on Wednesday, October 17th. They set a buy rating and a $20.50 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. International Game Technology has an average rating of Buy and a consensus target price of $27.36.

IGT traded down $0.59 during trading on Thursday, hitting $18.09. The company’s stock had a trading volume of 2,730,696 shares, compared to its average volume of 4,968,795. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.88 and a current ratio of 1.03. International Game Technology has a 12 month low of $15.01 and a 12 month high of $31.00. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 11.90 and a beta of 1.30.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Wednesday, October 31st. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.01. International Game Technology had a return on equity of 11.52% and a net margin of 3.27%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue for the quarter was down 5.3% compared to the same quarter last year. As a group, research analysts predict that International Game Technology will post 1.14 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 28th. Investors of record on Wednesday, November 14th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $0.80 dividend on an annualized basis and a yield of 4.42%. International Game Technology’s dividend payout ratio is presently 52.63%.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IGT. Davidson Kempner Capital Management LP bought a new stake in International Game Technology in the second quarter valued at about $23,240,000. FMR LLC acquired a new position in International Game Technology in the second quarter valued at about $22,797,000. Marshall Wace LLP grew its stake in International Game Technology by 792.1% in the second quarter. Marshall Wace LLP now owns 643,226 shares of the company’s stock valued at $14,949,000 after acquiring an additional 571,127 shares during the period. Schwab Charles Investment Management Inc. grew its stake in International Game Technology by 428.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 482,082 shares of the company’s stock valued at $11,204,000 after acquiring an additional 390,772 shares during the period. Finally, Boston Advisors LLC grew its stake in International Game Technology by 109.4% in the second quarter. Boston Advisors LLC now owns 535,616 shares of the company’s stock valued at $12,448,000 after acquiring an additional 279,795 shares during the period. Institutional investors and hedge funds own 47.35% of the company’s stock.

About International Game Technology

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

Read More: Marijuana Stocks

Analyst Recommendations for International Game Technology (NYSE:IGT)

Receive News & Ratings for International Game Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Game Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply