The stock of International Game Technology PLC (NYSE: IGT) has increased by 0.80 when compared to last closing price of 21.38.Despite this, the company has seen a loss of -0.46% in its stock price over the last five trading days. Seeking Alpha reported 2024-03-23 that International Game Technology has seen a decline in its stock price despite a positive long-term outlook for the business. In its latest fiscal year, IGT reported a 2% increase in revenue, driven by growth in some service revenue and some product sales. IGT’s spin-off and merger with Everi Holdings has caused investor dissatisfaction, but the combined company is expected to generate significant revenue and capture cost savings.
Is It Worth Investing in International Game Technology PLC (NYSE: IGT) Right Now?
International Game Technology PLC (NYSE: IGT) has a price-to-earnings ratio of 28.21x that is above its average ratio. Additionally, the 36-month beta value for IGT is 1.95. There are mixed opinions on the stock, with 2 analysts rating it as a “buy,” 2 rating it as “overweight,” 2 rating it as “hold,” and 0 rating it as “sell.”
The public float for IGT is 103.77M and currently, short sellers hold a 1.87% ratio of that float. The average trading volume of IGT on April 09, 2024 was 1.19M shares.
IGT’s Market Performance
IGT stock saw a decrease of -0.46% in the past week, with a monthly decline of -14.07% and a quarterly a decrease of -17.37%. The volatility ratio for the week is 2.74%, and the volatility levels for the last 30 days are 3.68% for International Game Technology PLC (IGT). The simple moving average for the past 20 days is -1.08% for IGT’s stock, with a -23.69% simple moving average for the past 200 days.
Analysts’ Opinion of IGT
Many brokerage firms have already submitted their reports for IGT stocks, with B. Riley Securities repeating the rating for IGT by listing it as a “Buy.” The predicted price for IGT in the upcoming period, according to B. Riley Securities is $30 based on the research report published on April 05, 2024 of the current year 2024.
Stifel, on the other hand, stated in their research note that they expect to see IGT reach a price target of $30, previously predicting the price at $31. The rating they have provided for IGT stocks is “Hold” according to the report published on March 04th, 2024.
Truist gave a rating of “Hold” to IGT, setting the target price at $30 in the report published on March 01st of the current year.
IGT Trading at -11.30% from the 50-Day Moving Average
After a stumble in the market that brought IGT to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -36.60% of loss for the given period.
Volatility was left at 3.68%, however, over the last 30 days, the volatility rate increased by 2.74%, as shares sank -13.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -18.72% lower at present.
During the last 5 trading sessions, IGT rose by +0.05%, which changed the moving average for the period of 200-days by -29.40% in comparison to the 20-day moving average, which settled at $21.61. In addition, International Game Technology PLC saw -21.38% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for IGT
Current profitability levels for the company are sitting at:
- 0.23 for the present operating margin
- 0.49 for the gross margin
The net margin for International Game Technology PLC stands at 0.05. The total capital return value is set at 0.11. Equity return is now at value 10.86, with 1.49 for asset returns.
Based on International Game Technology PLC (IGT), the company’s capital structure generated 0.8 points at debt to capital in total, while cash flow to debt ratio is standing at 0.18. The debt to equity ratio resting at 4.11. The interest coverage ratio of the stock is 3.31.
Currently, EBITDA for the company is 1.58 billion with net debt to EBITDA at 3.36. When we switch over and look at the enterprise to sales, we see a ratio of 2.25. The receivables turnover for the company is 4.47for trailing twelve months and the total asset turnover is 0.41. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.24.
Conclusion
In conclusion, International Game Technology PLC (IGT) has seen bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
