Light & Wonder (NASDAQ:LNW) Research Coverage Started at B. Riley

B. Riley started coverage on shares of Light & Wonder (NASDAQ:LNW) in a report published on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $120.00 target price on the stock. B. Riley also issued estimates for Light & Wonder’s Q3 2024 earnings at $0.96 EPS, Q4 2024 earnings at $0.91 EPS, FY2024 earnings at $4.06 EPS, Q1 2025 earnings at $1.17 EPS, Q2 2025 earnings at $1.33 EPS, Q3 2025 earnings at $1.46 EPS, Q4 2025 earnings at $1.42 EPS and FY2025 earnings at $5.39 EPS.

A number of other analysts have also commented on LNW. Benchmark restated a buy rating and set a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Stifel Nicolaus cut their price target on Light & Wonder from $108.00 to $100.00 and set a hold rating for the company in a research note on Wednesday, September 25th. UBS Group raised Light & Wonder from a neutral rating to a buy rating in a research note on Wednesday, September 25th. Finally, Macquarie cut their target price on Light & Wonder from $122.00 to $117.00 and set an outperform rating on the stock in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $107.82.

Light & Wonder Stock Performance

Shares of LNW opened at $94.97 on Tuesday. Light & Wonder has a one year low of $71.63 and a one year high of $115.00. The company has a market cap of $8.43 billion, a PE ratio of 28.61, a P/E/G ratio of 0.42 and a beta of 1.76. The stock has a 50-day moving average of $103.04 and a 200-day moving average of $99.94. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings data 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 net margin of 9.92% and a return on equity of 40.51%. The firm had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. During the same period last year, the business posted $1.02 EPS. The company’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts predict that Light & Wonder will post 4.31 EPS for the current fiscal year.

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

Institutional Trading of Light & Wonder

A number of large investors have recently added to or reduced their stakes in LNW. Millennium Management LLC increased its position in Light & Wonder by 573.3% in the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares during the last quarter. SG Americas Securities LLC raised its stake in Light & Wonder by 121.6% in the 2nd quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock valued at $1,496,000 after acquiring an additional 7,828 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Light & Wonder during the second quarter valued at about $23,597,000. Intech Investment Management LLC bought a new position in Light & Wonder during the second quarter worth about $1,620,000. Finally, M&G Plc bought a new position in Light & Wonder during the first quarter worth about $10,570,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.