International Game Technology (NYSE:IGT) had its price target lifted by Bank of America Corporation from $30.00 to $32.00 in a report published on Wednesday. Bank of America Corporation currently has a buy rating on the stock.

Several other brokerages also recently issued reports on IGT. Deutsche Bank AG began coverage on International Game Technology in a research report on Tuesday, September 26th. They issued a buy rating and a $30.00 price target on the stock. BidaskClub downgraded International Game Technology from a hold rating to a sell rating in a research report on Wednesday, August 2nd. Finally, ValuEngine raised International Game Technology from a hold rating to a buy rating in a research report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $28.63.

Shares of International Game Technology (IGT) traded up $1.04 during trading hours on Wednesday, hitting $28.80. The stock had a trading volume of 3,688,517 shares, compared to its average volume of 1,542,901. The firm has a market capitalization of $5,556.71, a P/E ratio of 15.96 and a beta of 1.45. International Game Technology has a 12 month low of $17.25 and a 12 month high of $32.07. The company has a current ratio of 0.85, a quick ratio of 0.71 and a debt-to-equity ratio of 2.02.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.16. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.16 billion. International Game Technology had a positive return on equity of 10.04% and a negative net margin of 18.62%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.45 earnings per share. research analysts predict that International Game Technology will post 1.12 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this piece of content on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright laws. The original version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/11/16/international-game-technology-igt-price-target-raised-to-32-00-at-bank-of-america-corporation.html.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Monday, November 27th. International Game Technology’s dividend payout ratio (DPR) is presently -17.78%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Americafirst Capital Management LLC acquired a new stake in International Game Technology during the third quarter worth about $822,000. Scoggin Management LP acquired a new stake in International Game Technology during the third quarter valued at approximately $12,275,000. Ladenburg Thalmann Financial Services Inc. boosted its holdings in International Game Technology by 3,030.1% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,644 shares of the company’s stock valued at $286,000 after purchasing an additional 11,272 shares in the last quarter. Point72 Asset Management L.P. boosted its holdings in International Game Technology by 40.4% during the third quarter. Point72 Asset Management L.P. now owns 6,632,396 shares of the company’s stock valued at $162,825,000 after purchasing an additional 1,908,038 shares in the last quarter. Finally, Boothbay Fund Management LLC boosted its holdings in International Game Technology by 33.3% during the third quarter. Boothbay Fund Management LLC now owns 36,545 shares of the company’s stock valued at $897,000 after purchasing an additional 9,127 shares in the last quarter. 38.05% of the stock is currently owned by institutional investors and hedge funds.

About International Game Technology

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. The Company is a supplier of gaming entertainment products worldwide.

Analyst Recommendations for International Game Technology (NYSE:IGT)

Receive News & Stock Ratings for International Game Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for International Game Technology and related stocks with our FREE daily email newsletter.