International Game Technology (NYSE:IGT) Given New $30.00 Price Target at Stifel Nicolaus

International Game Technology (NYSE:IGT) had its target price lifted by Stifel Nicolaus from $26.00 to $30.00 in a report released on Wednesday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the stock. StockNews.com downgraded shares of International Game Technology from a strong-buy rating to a buy rating in a report on Friday, July 5th. Susquehanna decreased their price objective on shares of International Game Technology from $40.00 to $33.00 and set a positive rating for the company in a report on Thursday, May 16th. Truist Financial lowered their price objective on shares of International Game Technology from $26.00 to $23.00 and set a hold rating on the stock in a research note on Wednesday, May 15th. Finally, B. Riley restated a buy rating and issued a $30.00 target price on shares of International Game Technology in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $28.67.

International Game Technology Price Performance

NYSE IGT opened at $23.47 on Wednesday. The company has a 50-day moving average price of $20.62 and a two-hundred day moving average price of $22.23. International Game Technology has a 52 week low of $18.90 and a 52 week high of $33.93. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 22.35 and a beta of 1.98. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57.

International Game Technology (NYSE:IGT) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.45 EPS. Analysts forecast that International Game Technology will post 1.4 EPS for the current year.

International Game Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 13th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.41%. The ex-dividend date is Tuesday, August 13th. International Game Technology’s dividend payout ratio is presently 76.19%.

Institutional Investors Weigh In On International Game Technology

A number of large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of International Game Technology by 10.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 8,425 shares of the company’s stock worth $231,000 after purchasing an additional 805 shares in the last quarter. SG Americas Securities LLC increased its holdings in International Game Technology by 10.8% in the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock worth $194,000 after buying an additional 836 shares during the last quarter. Venturi Wealth Management LLC bought a new position in International Game Technology during the fourth quarter valued at approximately $25,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in International Game Technology by 2.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 49,393 shares of the company’s stock valued at $1,354,000 after acquiring an additional 973 shares during the last quarter. Finally, Highlander Capital Management LLC bought a new stake in International Game Technology in the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 44.33% of the company’s stock.

About International Game Technology

International Game Technology PLC operates and provides gaming technology products and services in the United States, Canada, Italy, The United Kingdom, rest of Europe, and internationally. It operates through three segments: Global Lottery, Global Gaming, and PlayDigital. 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, as well as iLottery solutions and services.