International Game Technology (NYSE:IGT) Sets New 12-Month Low – Should You Sell?

Shares of International Game Technology PLC (NYSE:IGT) reached a new 52-week low during trading on Friday . The company traded as low as $16.34 and last traded at $16.38, with a volume of 17243 shares. The stock had previously closed at $16.46.

Analyst Upgrades and Downgrades

IGT has been the topic of a number of recent analyst reports. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Tuesday. Truist Financial decreased their price target on International Game Technology from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, January 14th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, International Game Technology currently has an average rating of “Moderate Buy” and an average target price of $28.25.

International Game Technology Price Performance

The firm has a market capitalization of $3.28 billion, a P/E ratio of 27.15 and a beta of 1.86. The stock’s 50 day simple moving average is $17.26 and its 200 day simple moving average is $18.85. The company has a debt-to-equity ratio of 2.85, a quick ratio of 2.31 and a current ratio of 2.36.

International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.10). The firm had revenue of $651.00 million during the quarter, compared to the consensus estimate of $657.84 million. International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the company earned $0.56 EPS. As a group, analysts expect that International Game Technology PLC will post 1.24 earnings per share for the current fiscal year.

International Game Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Investors of record on Tuesday, March 11th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date was Tuesday, March 11th. International Game Technology’s dividend payout ratio (DPR) is presently 46.78%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in International Game Technology during the 4th quarter valued at $25,616,000. Lazard Asset Management LLC lifted its stake in shares of International Game Technology by 13.1% during the 4th quarter. Lazard Asset Management LLC now owns 10,927,433 shares of the company’s stock worth $192,978,000 after purchasing an additional 1,267,625 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in International Game Technology during the fourth quarter valued at about $19,453,000. Beryl Capital Management LLC purchased a new position in International Game Technology in the fourth quarter valued at about $15,213,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in International Game Technology by 10.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,578,432 shares of the company’s stock worth $151,495,000 after purchasing an additional 787,543 shares in the last quarter. Hedge funds and other institutional investors own 44.33% of the company’s stock.

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.