International Game Technology PLC (NYSE:IGT) Declares Quarterly Dividend of $0.20

International Game Technology PLC (NYSE:IGT) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be given a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Tuesday, March 11th.

International Game Technology has increased its dividend by an average of 58.7% annually over the last three years. International Game Technology has a dividend payout ratio of 70.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Game Technology to earn $1.25 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 64.0%.

International Game Technology Stock Up 1.8 %

IGT stock traded up $0.33 during midday trading on Wednesday, hitting $18.35. The company’s stock had a trading volume of 2,397,359 shares, compared to its average volume of 1,421,821. The firm’s 50-day moving average is $17.30 and its 200-day moving average is $19.52. International Game Technology has a 12 month low of $16.42 and a 12 month high of $27.27. The company has a market cap of $3.65 billion, a PE ratio of 30.58 and a beta of 1.91. The company has a current ratio of 2.36, a quick ratio of 2.31 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.10). The business had revenue of $651.00 million during the quarter, compared to analysts’ expectations of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. On average, equities research analysts forecast that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Truist Financial decreased their target price on International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a research report on Tuesday, January 14th. StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, International Game Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.00.

International Game Technology Company Profile

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.