International Game Technology (NYSE:IGT) Reaches New 52-Week Low – Time to Sell?

International Game Technology PLC (NYSE:IGT)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as $18.74 and last traded at $18.93, with a volume of 250701 shares traded. The stock had previously closed at $19.19.

Analyst Ratings Changes

IGT has been the topic of a number of analyst reports. B. Riley reaffirmed a “buy” rating and set a $30.00 price objective on shares of International Game Technology in a research note on Friday, July 26th. Stifel Nicolaus raised their price target on shares of International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.67.

International Game Technology Stock Down 1.2 %

The stock has a market cap of $3.73 billion, a price-to-earnings ratio of 31.62 and a beta of 1.96. The business’s 50 day moving average is $20.85 and its 200-day moving average is $20.91. 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 posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). The company had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $591.50 million. International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.52 earnings per share. On average, sell-side analysts predict that International Game Technology PLC will post 1.16 EPS for the current fiscal year.

International Game Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 26th will be paid a dividend of $0.20 per share. The ex-dividend date is Tuesday, November 26th. This represents a $0.80 annualized dividend and a yield of 4.27%. International Game Technology’s dividend payout ratio (DPR) is currently 133.34%.

Hedge Funds Weigh In On International Game Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its position in shares of International Game Technology by 0.3% during the second quarter. Sei Investments Co. now owns 202,224 shares of the company’s stock worth $4,137,000 after purchasing an additional 515 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in International Game Technology by 26.1% during the 3rd quarter. Hexagon Capital Partners LLC now owns 2,798 shares of the company’s stock worth $60,000 after purchasing an additional 579 shares during the last quarter. Qsemble Capital Management LP grew its holdings in shares of International Game Technology by 5.1% during the second quarter. Qsemble Capital Management LP now owns 13,012 shares of the company’s stock worth $266,000 after buying an additional 631 shares in the last quarter. SG Americas Securities LLC raised its position in shares of International Game Technology by 10.8% in the first quarter. SG Americas Securities LLC now owns 8,607 shares of the company’s stock valued at $194,000 after buying an additional 836 shares during the last quarter. Finally, Point72 DIFC Ltd lifted its stake in shares of International Game Technology by 7.9% in the third quarter. Point72 DIFC Ltd now owns 12,870 shares of the company’s stock worth $274,000 after buying an additional 947 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.