International Game Technology PLC (IGT) to Issue Quarterly Dividend of $0.20 on August 27th

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Tuesday, July 30th, Zacks reports. Investors of record on Tuesday, August 13th will be given a dividend of 0.20 per share on Tuesday, August 27th. This represents a $0.80 dividend on an annualized basis and a yield of 3.41%. The ex-dividend date is Tuesday, August 13th.

International Game Technology has raised its dividend payment by an average of 58.7% per year over the last three years. International Game Technology has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect International Game Technology to earn $2.04 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 39.2%.

International Game Technology Stock Up 2.8 %

Shares of International Game Technology stock opened at $23.47 on Thursday. The company has a fifty day moving average price of $20.62 and a 200 day moving average price of $22.23. The company has a current ratio of 0.84, a quick ratio of 0.67 and a debt-to-equity ratio of 2.57. International Game Technology has a twelve month low of $18.90 and a twelve month high of $33.93. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 22.35 and a beta of 1.98.

International Game Technology (NYSE:IGT) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. International Game Technology had a return on equity of 19.95% and a net margin of 4.89%. International Game Technology’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.45 EPS. Equities research analysts forecast that International Game Technology will post 1.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IGT has been the topic of several analyst reports. StockNews.com downgraded shares of International Game Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 5th. B. Riley reissued a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Truist Financial dropped their price objective on International Game Technology from $26.00 to $23.00 and set a “hold” rating on the stock in a report on Wednesday, May 15th. Stifel Nicolaus increased their target price on International Game Technology from $26.00 to $30.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Susquehanna dropped their price target on shares of International Game Technology from $40.00 to $33.00 and set a “positive” rating for the company in a research note on Thursday, May 16th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.67.

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.