Light & Wonder, Inc. (NASDAQ:LNW) Given Average Rating of “Hold” by Analysts

by · The Cerbat Gem

Light & Wonder, Inc. (NASDAQ:LNW – Get Free Report) has received an average recommendation of “Hold” from the eleven brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $106.60.

A number of analysts have recently issued reports on the company. Benchmark restated a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Macquarie reduced their price objective on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a report on Wednesday, September 25th. Truist Financial lifted their target price on shares of Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th.

Get Our Latest Report on LNW

Light & Wonder Trading Up 4.4 %

Shares of LNW stock opened at $93.39 on Friday. The firm has a market capitalization of $8.29 billion, a P/E ratio of 38.75, a price-to-earnings-growth ratio of 0.37 and a beta of 1.76. Light & Wonder has a 1 year low of $67.71 and a 1 year high of $115.00. The firm’s fifty day simple moving average is $103.88 and its 200 day simple moving average is $100.18. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90.

Light & Wonder (NASDAQ:LNW – Get Free Report) last released its earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.14). Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The company had revenue of $818.00 million during the quarter, compared to the consensus estimate of $798.09 million. During the same quarter in the previous year, the business posted $1.02 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, sell-side analysts predict that Light & Wonder will post 4.44 EPS for the current year.

Light & Wonder announced that its board has authorized a share buyback plan on Wednesday, August 7th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Light & Wonder

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. bought a new position in Light & Wonder in the 4th quarter worth approximately $1,361,000. US Bancorp DE raised its position in shares of Light & Wonder by 1,103.6% during the fourth quarter. US Bancorp DE now owns 9,954 shares of the company’s stock worth $817,000 after acquiring an additional 9,127 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its stake in shares of Light & Wonder by 1,626.9% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,807 shares of the company’s stock valued at $723,000 after acquiring an additional 8,297 shares during the period. KBC Group NV bought a new position in Light & Wonder in the fourth quarter valued at about $153,000. Finally, Burgundy Asset Management Ltd. increased its position in Light & Wonder by 3.8% in the fourth quarter. Burgundy Asset Management Ltd. now owns 1,299,670 shares of the company’s stock worth $106,716,000 after purchasing an additional 47,940 shares during the period. 88.08% of the stock is owned by institutional investors.

About Light & Wonder

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Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.

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