International Game Technology PLC (IGT) to Issue Quarterly Dividend of $0.20 on December 10th

International Game Technology PLC (NYSE:IGT) announced a quarterly dividend on Tuesday, November 12th,Zacks Dividends reports. Investors of record on Tuesday, November 26th will be given a dividend of 0.20 per share on Tuesday, December 10th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Tuesday, November 26th.

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 77.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect International Game Technology to earn $0.96 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 83.3%.

International Game Technology Trading Down 0.4 %

Shares of NYSE:IGT opened at $20.90 on Thursday. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 34.83 and a beta of 1.96. International Game Technology has a 1-year low of $18.90 and a 1-year high of $28.82. The company has a 50 day moving average price of $21.05 and a 200 day moving average price of $20.93. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.71 and a current ratio of 2.36.

International Game Technology (NYSE:IGT) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.24). International Game Technology had a return on equity of 16.17% and a net margin of 4.17%. The company had revenue of $587.00 million during the quarter, compared to analysts’ expectations of $591.50 million. During the same period in the prior year, the business posted $0.52 EPS. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. On average, research analysts anticipate that International Game Technology will post 1.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on IGT shares. Stifel Nicolaus raised their price target on shares of International Game Technology from $26.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, B. Riley restated a “buy” rating and issued a $30.00 target price on shares of International Game Technology in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average 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.