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

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Tuesday, March 11th will be paid a dividend of 0.20 per share on Tuesday, March 25th. This represents a $0.80 dividend on an annualized basis and a dividend 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 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 Performance

Shares of IGT traded up $0.33 during mid-day trading on Wednesday, reaching $18.35. 2,397,359 shares of the company’s stock were exchanged, compared to its average volume of 1,421,821. The stock has a market capitalization of $3.65 billion, a PE ratio of 30.58 and a beta of 1.91. International Game Technology has a 52-week low of $16.42 and a 52-week high of $27.27. The business’s fifty day simple moving average is $17.30 and its 200-day simple moving average is $19.52. 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 released its earnings results 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 business had revenue of $651.00 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 EPS. On average, equities research analysts expect that International Game Technology will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com raised shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Truist Financial cut their price target on shares of International Game Technology from $23.00 to $20.00 and set a “hold” rating on the stock in a report on Tuesday, January 14th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, International Game Technology presently has a consensus rating of “Moderate Buy” and an average 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.