Macquarie Lowers Light & Wonder (NASDAQ:LNW) Price Target to $117.00

Light & Wonder (NASDAQ:LNW) had its price objective lowered by Macquarie from $122.00 to $117.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Susquehanna cut their price target on Light & Wonder from $92.00 to $90.00 and set a neutral rating for the company in a research note on Tuesday. UBS Group upgraded shares of Light & Wonder from a neutral rating to a buy rating in a research report on Wednesday. Truist Financial lifted their target price on shares of Light & Wonder from $115.00 to $120.00 and gave the company a buy rating in a report on Thursday, July 18th. JPMorgan Chase & Co. raised their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the company an overweight rating in a research report on Thursday, August 8th. Finally, 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. One equities 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 MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $106.60.

Light & Wonder Stock Performance

Shares of Light & Wonder stock opened at $92.38 on Wednesday. The firm’s fifty day simple moving average is $105.25 and its 200-day simple moving average is $100.56. Light & Wonder has a 12 month low of $67.71 and a 12 month high of $115.00. The stock has a market capitalization 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 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 released its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The company had revenue of $818.00 million for 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 business’s quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.02 EPS. As a group, equities analysts forecast that Light & Wonder will post 4.44 earnings per share for the current year.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Light & Wonder during the 1st quarter worth approximately $38,000. Fidelis Capital Partners LLC acquired a new stake in Light & Wonder during the 1st quarter valued at $38,000. GAMMA Investing LLC increased its position in Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after buying an additional 152 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of Light & Wonder in the fourth quarter worth $69,000. Finally, KBC Group NV purchased a new stake in shares of Light & Wonder in the fourth quarter valued at $153,000. Institutional investors and hedge funds 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.