International Game Technology (NYSE:IGT) announced a quarterly dividend on Tuesday, November 14th, RTT News reports. Stockholders of record on Tuesday, November 28th will be paid a dividend of 0.20 per share on Tuesday, December 12th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date is Monday, November 27th.
International Game Technology has raised its dividend by an average of 43.6% annually over the last three years and has increased its dividend every year for the last 5 years. International Game Technology has a payout ratio of 71.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect International Game Technology to earn $1.39 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 57.6%.
Shares of International Game Technology (NYSE:IGT) traded up $3.60 during mid-day trading on Wednesday, hitting $27.45. The stock had a trading volume of 8,356,300 shares, compared to its average volume of 1,523,535. The company has a market cap of $4,827.96, a price-to-earnings ratio of 13.48 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 released its quarterly earnings results on Tuesday, November 14th. The company reported $0.40 earnings per share 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 analyst estimates of $1.16 billion. International Game Technology had a positive return on equity of 10.35% and a negative net margin of 2.28%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.45 earnings per share. research analysts forecast that International Game Technology will post 1.12 EPS for the current fiscal year.
A number of research analysts have issued reports on the company. Bank of America Corporation lifted their price objective on International Game Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank AG assumed coverage on International Game Technology in a research note on Tuesday, September 26th. They set a “buy” rating and a $30.00 price objective for the company. BidaskClub cut International Game Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, ValuEngine upgraded International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $28.63.
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International Game Technology Company Profile
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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