Truist Financial Has Lowered Expectations for Brightstar Lottery (NYSE:BRSL) Stock Price

Brightstar Lottery (NYSE:BRSL) had its price target lowered by research analysts at Truist Financial from $13.00 to $11.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Truist Financial’s target price would suggest a potential upside of 16.59% from the stock’s current price.

Several other analysts have also commented on BRSL. Argus lowered Brightstar Lottery from a “buy” rating to a “hold” rating in a research note on Monday, June 29th. Stifel Nicolaus set a $19.00 price target on Brightstar Lottery in a research report on Friday, September 25th. Wall Street Zen lowered Brightstar Lottery from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Brightstar Lottery in a research note on Wednesday, July 1st. They set a “buy” rating and a $15.00 price objective for the company. Finally, Jefferies Financial Group raised Brightstar Lottery from a “hold” rating to a “buy” rating and lifted their price objective for the company from $12.00 to $16.00 in a report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $14.77.

Brightstar Lottery Price Performance

NYSE BRSL traded up $0.01 during trading on Tuesday, reaching $9.44. 461,156 shares of the company traded hands, compared to its average volume of 1,686,860. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.00 and a current ratio of 1.10. The stock’s 50 day moving average price is $10.67 and its two-hundred day moving average price is $11.22. The company has a market cap of $1.76 billion, a price-to-earnings ratio of 7.29, a P/E/G ratio of 3.88 and a beta of 1.18. Brightstar Lottery has a 1-year low of $9.35 and a 1-year high of $17.59.

Brightstar Lottery (NYSE:BRSL) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. The company had revenue of $584.00 million for the quarter. As a group, analysts anticipate that Brightstar Lottery will post 0.35 EPS for the current year.

Institutional Trading of Brightstar Lottery

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Brightstar Lottery by 16.5% during the second quarter. BlackRock Inc. now owns 6,785,934 shares of the company’s stock worth $72,745,000 after buying an additional 961,306 shares in the last quarter. Sei Investments Co. raised its stake in shares of Brightstar Lottery by 101.8% in the first quarter. Sei Investments Co. now owns 322,220 shares of the company’s stock valued at $4,105,000 after acquiring an additional 162,541 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of Brightstar Lottery by 17.3% in the 1st quarter. Bank of America Corp DE now owns 1,031,022 shares of the company’s stock worth $13,135,000 after acquiring an additional 151,839 shares in the last quarter. Readystate Asset Management LP acquired a new position in shares of Brightstar Lottery in the 2nd quarter worth approximately $957,000. Finally, Hsbc Holdings PLC acquired a new position in shares of Brightstar Lottery in the 4th quarter worth approximately $1,318,000. 44.33% of the stock is owned by institutional investors.

About Brightstar Lottery

Brightstar Lottery Corporation (NYSE: BRSL) is a global lottery technology and services company. The company provides governments and lottery operators with products and solutions for draw-based games, instant-ticket lotteries, and digital or iLottery programs.

Its offerings include lottery management systems, point-of-sale terminals, transaction processing, gaming content, digital platforms, player engagement tools, analytics, and related operational and technology services. Brightstar also supports the design, production, and distribution of lottery products, helping customers manage retail and online lottery channels.

Brightstar Lottery was established as the standalone company formed from International Game Technology’s former Global Lottery business.