Light & Wonder (NASDAQ:LNW) Given New $100.00 Price Target at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its target price lowered by Stifel Nicolaus from $108.00 to $100.00 in a report issued on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

LNW has been the topic of several other reports. Macquarie raised their price objective on Light & Wonder from $120.00 to $122.00 and gave the stock an outperform rating in a report on Thursday, August 8th. Maxim Group initiated coverage on Light & Wonder in a research report on Monday, August 26th. They set a buy rating and a $144.00 target price on the stock. UBS Group raised Light & Wonder from a neutral rating to a buy rating in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on Light & Wonder from $107.00 to $111.00 and gave the company an overweight rating in a research report on Thursday, August 8th. Finally, Truist Financial increased 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Light & Wonder has a consensus rating of Hold and a consensus target price of $106.60.

Light & Wonder Trading Down 0.8 %

Shares of NASDAQ LNW opened at $92.38 on Wednesday. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The business’s 50 day moving average price is $105.25 and its 200-day moving average price is $100.56. Light & Wonder has a fifty-two week low of $67.71 and a fifty-two week high of $115.00. The company 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.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share 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 analysts’ expectations of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The company’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. On average, sell-side analysts expect that Light & Wonder will post 4.44 earnings per share for the current year.

Light & Wonder announced that its board has authorized a share buyback program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 10.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Light & Wonder

Institutional investors have recently made changes to their positions in the business. Centaurus Financial Inc. increased its holdings in shares of Light & Wonder by 67.7% in the second quarter. Centaurus Financial Inc. now owns 3,167 shares of the company’s stock valued at $332,000 after purchasing an additional 1,279 shares during the period. Point72 Asset Management L.P. acquired a new position in Light & Wonder in the 2nd quarter worth approximately $542,000. Creative Planning increased its holdings in Light & Wonder by 25.0% in the 2nd quarter. Creative Planning now owns 20,953 shares of the company’s stock worth $2,198,000 after buying an additional 4,190 shares during the period. Algert Global LLC increased its holdings in Light & Wonder by 47.2% in the 2nd quarter. Algert Global LLC now owns 28,196 shares of the company’s stock worth $2,957,000 after buying an additional 9,046 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Light & Wonder in the 2nd quarter worth approximately $23,597,000. Institutional investors and hedge funds 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.