International Game Technology (NYSE:IGT) Plans Quarterly Dividend of $0.20
International Game Technology (NYSE:IGT) declared a quarterly dividend on Tuesday, August 1st, NASDAQ reports. Shareholders of record on Friday, August 11th will be given a dividend of 0.20 per share on Thursday, August 24th. This represents a $0.80 annualized dividend and a yield of 3.94%. The ex-dividend date is Wednesday, August 9th.
International Game Technology has increased its dividend by an average of 43.6% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. International Game Technology has a dividend payout ratio of 53.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect International Game Technology to earn $1.69 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 47.3%.
Shares of International Game Technology (IGT) opened at 20.32 on Tuesday. International Game Technology has a 12 month low of $17.25 and a 12 month high of $32.07. The stock has a 50 day moving average price of $18.67 and a 200-day moving average price of $22.35. The stock’s market cap is $4.12 billion.
International Game Technology (NYSE:IGT) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.17. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. International Game Technology had a negative net margin of 2.28% and a positive return on equity of 10.35%. International Game Technology’s revenue was down 5.1% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. On average, analysts forecast that International Game Technology will post $1.23 EPS for the current fiscal year.
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IGT has been the subject of a number of research analyst reports. Bank of America Corporation restated a “neutral” rating and issued a $27.00 target price (up previously from $22.00) on shares of International Game Technology in a report on Sunday, May 28th. BidaskClub upgraded International Game Technology from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Wells Fargo & Company restated a “market perform” rating and issued a $25.50 target price on shares of International Game Technology in a report on Wednesday, April 19th. Telsey Advisory Group reduced their target price on International Game Technology from $31.00 to $27.00 and set an “outperform” rating for the company in a report on Friday, May 26th. Finally, ValuEngine lowered International Game Technology from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. International Game Technology currently has an average rating of “Hold” and an average target price of $27.38.
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.
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