Light & Wonder (NASDAQ:LNW) Price Target Lowered to $115.00 at Truist Financial

Light & Wonder (NASDAQ:LNW) had its price objective cut by Truist Financial from $120.00 to $115.00 in a research report sent to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

LNW has been the topic of a number of other reports. Macquarie reduced their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 25th. B. Riley started coverage on shares of Light & Wonder in a research report on Tuesday, October 8th. They issued a “buy” rating and a $120.00 target price on the stock. Susquehanna cut their price target on shares of Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday, September 24th. Stifel Nicolaus decreased their price objective on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a report on Wednesday, September 25th. Finally, Benchmark restated a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Light & Wonder presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.36.

Light & Wonder Stock Performance

Shares of LNW opened at $95.13 on Wednesday. Light & Wonder has a 12-month low of $72.06 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. The company has a market cap of $8.57 billion, a PE ratio of 39.47, a price-to-earnings-growth ratio of 0.39 and a beta of 1.76. The stock has a 50-day moving average price of $101.35 and a 200-day moving average price of $99.33.

Light & Wonder (NASDAQ:LNW) last announced its earnings results 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). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The company had revenue of $818.00 million during the quarter, compared to analysts’ expectations of $798.09 million. During the same quarter last year, the firm posted $1.02 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts forecast that Light & Wonder will post 4.44 earnings per share for the current fiscal year.

Light & Wonder announced that its board has authorized a stock 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 stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Institutional Investors Weigh In On Light & Wonder

Large investors have recently made changes to their positions in the business. Ninety One UK Ltd lifted its stake in Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after acquiring an additional 511,081 shares during the period. Millennium Management LLC boosted its stake in shares of Light & Wonder by 573.3% during the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after purchasing an additional 493,295 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of 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. Susquehanna Fundamental Investments LLC purchased a new position in shares of Light & Wonder during the second quarter valued at about $23,597,000. Finally, WINTON GROUP Ltd bought a new position in Light & Wonder in the second quarter worth about $15,539,000. 88.08% of the stock is currently owned by institutional investors.

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.