Light & Wonder (NASDAQ:LNW) PT Lowered to $100.00 at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its price objective reduced by Stifel Nicolaus from $108.00 to $100.00 in a research note issued to investors on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

Several other brokerages have also commented on LNW. Benchmark reaffirmed a buy rating and issued a $114.00 price objective on shares of Light & Wonder in a report on Thursday, August 8th. Susquehanna cut their price objective on Light & Wonder from $92.00 to $90.00 and set a neutral rating for the company in a report on Tuesday. Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They issued a buy rating and a $144.00 price objective for the company. Truist Financial lifted their target price on Light & Wonder from $115.00 to $120.00 and gave the company a buy rating in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Light & Wonder from $76.00 to $81.00 and gave the company a hold rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Light & Wonder has an average rating of Hold and an average price target of $106.60.

Light & Wonder Stock Down 0.8 %

Light & Wonder stock opened at $92.38 on Wednesday. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 0.38 and a beta of 1.77. The stock has a fifty day simple moving average of $105.25 and a two-hundred day simple moving average of $100.56. Light & Wonder has a 12 month low of $67.71 and a 12 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.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 7th. The company reported $0.90 EPS 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 during the quarter, compared to the consensus estimate of $798.09 million. During the same period in the previous year, the business posted $1.02 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that Light & Wonder will post 4.44 EPS for the current fiscal year.

Light & Wonder declared that its board has authorized a share repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 10.1% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Light & Wonder

A number of hedge funds have recently made changes to their positions in LNW. UBS Group AG boosted its stake in Light & Wonder by 18.8% during the fourth quarter. UBS Group AG now owns 271,108 shares of the company’s stock valued at $22,261,000 after buying an additional 42,927 shares during the last quarter. Franklin Resources Inc. purchased a new stake in Light & Wonder during the fourth quarter valued at approximately $1,361,000. US Bancorp DE raised its position in Light & Wonder by 1,103.6% during the fourth quarter. US Bancorp DE now owns 9,954 shares of the company’s stock valued at $817,000 after purchasing an additional 9,127 shares during the period. Nomura Asset Management Co. Ltd. raised its position in 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 purchasing an additional 8,297 shares during the period. Finally, KBC Group NV purchased a new stake in Light & Wonder during the fourth quarter valued at approximately $153,000. Institutional investors own 88.08% of the company’s stock.

Light & Wonder Company Profile

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.