The stock of International Game Technology PLC (NYSE:IGT) last traded at $33.09, down -2.19% from the previous session.
Data from the available sources indicates that International Game Technology PLC (NYSE:IGT) is covered by 8 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $49.00 and a low of $27.60, we find $38.00. Given the previous closing price of $33.83, this indicates a potential upside of 12.33 percent. IGT stock price is now 9.80% away from the 50-day moving average and 27.14% away from the 200-day moving average. The market capitalization of the company currently stands at $6.57B.
In total, 3 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $36.33 as their price target over the next twelve months.
With the price target maintained at $31, Susquehanna recently Upgraded its rating from Neutral to Positive for International Game Technology PLC (NYSE: IGT).
A total of 46.11% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IGT stock. A new stake in International Game Technology PLC shares was purchased by CASTLE HOOK PARTNERS LP during the first quarter worth $9,927,000. VOLORIDGE INVESTMENT MANAGEMENT, LLC invested $6,084,000 in shares of IGT during the first quarter. In the first quarter, TPG GP A, LLC acquired a new stake in International Game Technology PLC valued at approximately $5,301,000. SUSQUEHANNA INTERNATIONAL GROUP, LLP acquired a new stake in IGT for approximately $4,437,000. ALLIANZ ASSET MANAGEMENT GMBH purchased a new stake in IGT valued at around $3,464,000 in the second quarter. In total, there are 310 active investors with 48.50% ownership of the company’s stock.
With an opening price of $32.13 on Tuesday morning, International Game Technology PLC (NYSE: IGT) set off the trading day. During the past 12 months, International Game Technology PLC has had a low of $15.01 and a high of $33.99. As of last week, the company has a debt-to-equity ratio of 4.02, a current ratio of 1.20, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $12.10B, which is based on a 30.84 price-to-earnings ratio, a 0.92 price-to-earnings-growth ratio, and a beta of 1.95. The fifty day moving average price for IGT is $30.27 and a two-hundred day moving average price translates $26.11 for the stock.
The latest earnings results from International Game Technology PLC (NYSE: IGT) was released for Jun, 2023. According to the Gambling Company, earnings per share came in at $0.11, missing analysts’ expectations of $0.38 by -0.27. This compares to $0.57 EPS in the same period last year. The net profit margin was 8.50% and return on equity was 25.40% for IGT. The company reported revenue of $1.06 billion for the quarter, compared to $1.05 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.86 percent. For the current quarter, analysts expect IGT to generate $1.03B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 08/29/2023. Investors who held shares on 08/15/2023 were paid a $0.20 dividend. On an annualized basis, this represents a $0.80 dividend and a 2.42% percent yield. There was an ex-dividend date of 08/14/2023 for this dividend.
International Game Technology PLC(IGT) Company Profile
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, as well as iLottery solutions and services. It also designs, develops, assembles, and provides cabinets, games, systems, and software for the gaming market, as well as offers gaming management systems for casino management, customer relationship management, patron management, and server-based gaming. In addition, the company provides video lottery terminals (VLT), VLT central systems, and VLT games. Further, it offers sports betting technology and management services to licensed sports betting operators. Additionally, the company provides digital gaming products and services, including blackjack, roulette, slot games, poker, bingo, and other casino card games; social casino content; and iGaming systems and digital platforms that offer remote game server solution. It processes commercial transactions, such as prepaid cellular telephone recharges, bill payments, e-vouchers and retail-based programs, electronic tax payments, prepaid card recharges, and stamp duty and money transfer services, as well as money transfers. The company was formerly known as GTECH S.p.A. and changed its name to International Game Technology PLC in April 2015. The company was incorporated in 2014 and is headquartered in London, the United Kingdom. International Game Technology PLC is a subsidiary of De Agostini S.p.A.
