International Game Technology (NYSE:IGT) Reaches New 52-Week Low – Time to Sell?

Shares of International Game Technology PLC (NYSE:IGT) reached a new 52-week low on Monday . The company traded as low as $16.95 and last traded at $17.00, with a volume of 198833 shares changing hands. The stock had previously closed at $17.22.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of International Game Technology from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, International Game Technology has an average rating of “Moderate Buy” and an average price target of $28.67.

International Game Technology Trading Down 0.3 %

The stock has a fifty day simple moving average of $19.80 and a 200 day simple moving average of $20.72. The firm has a market capitalization of $3.42 billion, a P/E ratio of 28.60 and a beta of 1.91. The company has a quick ratio of 2.31, a current ratio of 2.36 and a debt-to-equity ratio of 2.85.

International Game Technology (NYSE:IGT) last issued its earnings results on Tuesday, November 12th. The company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.24). International Game Technology had a net margin of 4.17% and a return on equity of 16.17%. The business had revenue of $587.00 million for the quarter, compared to the consensus estimate of $591.50 million. During the same period last year, the business posted $0.52 EPS. The firm’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, research analysts forecast that International Game Technology PLC will post 1 EPS for the current year.

International Game Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Tuesday, November 26th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, November 26th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.66%. International Game Technology’s dividend payout ratio is 133.33%.

Institutional Trading of International Game Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massachusetts Financial Services Co. MA grew its position in shares of International Game Technology by 0.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 7,790,889 shares of the company’s stock valued at $165,946,000 after purchasing an additional 47,442 shares in the last quarter. FMR LLC boosted its stake in International Game Technology by 19.4% during the third quarter. FMR LLC now owns 3,050,447 shares of the company’s stock valued at $64,975,000 after buying an additional 495,962 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in International Game Technology by 75.5% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 2,313,954 shares of the company’s stock valued at $47,343,000 after buying an additional 995,570 shares in the last quarter. Solel Partners LP bought a new stake in International Game Technology in the 2nd quarter worth approximately $43,478,000. Finally, State Street Corp raised its holdings in shares of International Game Technology by 1.0% during the 3rd quarter. State Street Corp now owns 2,103,275 shares of the company’s stock worth $44,800,000 after acquiring an additional 21,295 shares in the last quarter. 44.33% of the stock is currently owned by institutional investors.

About International Game Technology

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.