B. Riley Comments on Light & Wonder, Inc.’s Q3 2024 Earnings (NASDAQ:LNW)

Light & Wonder, Inc. (NASDAQ:LNW) – B. Riley issued their Q3 2024 earnings per share (EPS) estimates for Light & Wonder in a report released on Monday, October 7th. B. Riley analyst D. Bain forecasts that the company will earn $0.96 per share for the quarter. B. Riley currently has a “Strong-Buy” rating on the stock. The consensus estimate for Light & Wonder’s current full-year earnings is $4.31 per share. B. Riley also issued estimates for Light & Wonder’s Q4 2024 earnings at $0.91 EPS and FY2024 earnings at $4.06 EPS.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The business had revenue of $818.00 million for the quarter, compared to analyst estimates of $798.09 million. During the same period in the prior year, the company earned $1.02 EPS. The company’s revenue was up 11.9% on a year-over-year basis.

Other equities research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped 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. Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. 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. Finally, UBS Group upgraded Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $107.82.

Light & Wonder Trading Up 0.8 %

Shares of LNW opened at $95.70 on Thursday. Light & Wonder has a twelve month low of $71.63 and a twelve month high of $115.00. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. The firm has a market capitalization of $8.63 billion, a P/E ratio of 39.71, a PEG ratio of 0.42 and a beta of 1.76. The firm’s 50-day moving average is $102.90 and its two-hundred day moving average is $99.87.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LNW. Burgundy Asset Management Ltd. grew its holdings in Light & Wonder by 1.2% during the 1st quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock valued at $134,307,000 after purchasing an additional 15,902 shares in the last quarter. Ninety One UK Ltd grew its holdings in Light & Wonder by 128.0% during the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after purchasing an additional 511,081 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Light & Wonder by 95.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after purchasing an additional 438,443 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Light & Wonder by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after purchasing an additional 12,317 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Light & Wonder by 102.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares in the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

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

About Light & Wonder

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.