International Game Technology PLC (IGT) to Issue Quarterly Dividend of $0.20 on June 12th

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Wednesday, May 14th, Wall Street Journal reports. Shareholders of record on Thursday, May 29th will be paid a dividend of 0.20 per share on Thursday, June 12th. This represents a $0.80 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date is Thursday, May 29th.

International Game Technology has increased its dividend payment by an average of 58.7% per year over the last three years. International Game Technology has a dividend payout ratio of 54.8% meaning 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 Performance

Shares of NYSE IGT opened at $16.62 on Friday. The stock has a market cap of $3.36 billion, a PE ratio of 27.70 and a beta of 1.61. International Game Technology has a 1 year low of $13.81 and a 1 year high of $24.13. The firm has a fifty day moving average price of $16.36 and a 200-day moving average price of $17.62. The company has a debt-to-equity ratio of 2.85, a current ratio of 2.36 and a quick ratio of 2.31.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, May 13th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The business had revenue of $583.00 million during the quarter, compared to analysts’ expectations of $630.30 million. Equities analysts anticipate that International Game Technology will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on IGT shares. Truist Financial lowered their price target on International Game Technology from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. Stifel Nicolaus cut their target price on shares of International Game Technology from $26.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, April 22nd. Susquehanna reiterated a “positive” rating and issued a $25.00 price target (down from $30.00) on shares of International Game Technology in a report on Wednesday. Finally, StockNews.com downgraded shares of International Game Technology from a “buy” rating to a “hold” rating in a report on Monday, April 14th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.75.

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.