Light & Wonder (NASDAQ:LNW) Price Target Cut to $90.00

Light & Wonder (NASDAQ:LNW) had its price target reduced by equities research analysts at Susquehanna from $92.00 to $90.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Susquehanna’s price target indicates a potential downside of 1.76% from the company’s current price.

LNW has been the topic of a number of other reports. Truist Financial raised their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Stifel Nicolaus boosted their price target on Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. Macquarie lifted their target price on Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Finally, Maxim Group began coverage on Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 price target for the company. 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. According to data from MarketBeat, Light & Wonder currently has a consensus rating of “Hold” and a consensus target price of $106.60.

Light & Wonder Stock Up 1.0 %

NASDAQ:LNW opened at $91.61 on Tuesday. Light & Wonder has a 1 year low of $67.71 and a 1 year high of $115.00. The stock has a 50-day moving average price of $105.63 and a two-hundred day moving average price of $100.66. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 0.47 and a beta of 1.77. 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 issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.04 by ($0.14). The business had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. Light & Wonder’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.02 earnings per share. As a group, equities analysts expect that Light & Wonder will post 4.44 earnings per share for the current year.

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

Hedge Funds Weigh In On Light & Wonder

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new stake in Light & Wonder in the first quarter valued at approximately $38,000. Fidelis Capital Partners LLC acquired a new position in shares of Light & Wonder during the 1st quarter worth approximately $38,000. GAMMA Investing LLC raised its stake in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after acquiring an additional 152 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Light & Wonder during the 4th quarter valued at $69,000. Finally, KBC Group NV bought a new position in Light & Wonder during the fourth quarter worth $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.