International Game Technology PLC (NYSE:IGT) to Issue Quarterly Dividend of $0.20

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

International Game Technology has increased its dividend by an average of 58.7% per year over the last three years. International Game Technology has a dividend 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 Stock Down 0.4 %

NYSE:IGT opened at $20.90 on Thursday. The company has a quick ratio of 0.71, a current ratio of 2.36 and a debt-to-equity ratio of 2.85. International Game Technology has a 12-month low of $18.90 and a 12-month high of $28.82. The stock’s fifty day simple moving average is $21.05 and its 200-day simple moving average is $20.93. The firm has a market capitalization of $4.16 billion, a P/E ratio of 34.83 and a beta of 1.96.

International Game Technology (NYSE:IGT) last announced 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). The firm had revenue of $587.00 million during the quarter, compared to analyst estimates 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 was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.52 earnings per share. Equities research analysts expect that International Game Technology will post 1.2 earnings per share for the current year.

Analyst Ratings Changes

IGT has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price objective 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. B. Riley restated a “buy” rating and issued a $30.00 price target on shares of International Game Technology in a report on Friday, July 26th. Finally, StockNews.com upgraded International Game Technology from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.