Light & Wonder (NASDAQ:LNW) PT Lowered to $90.00 at Susquehanna

Light & Wonder (NASDAQ:LNW) had its target price lowered by analysts at Susquehanna from $92.00 to $90.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s price objective indicates a potential downside of 1.76% from the company’s previous close.

Other analysts have also recently issued research reports about the stock. Truist Financial lifted their price objective on shares of Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Stifel Nicolaus lifted their price target on shares of Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Macquarie increased their price target on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $114.00 price objective on shares of Light & Wonder in a report on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $106.60.

Light & Wonder Price Performance

Light & Wonder stock opened at $91.61 on Tuesday. The company has a market capitalization of $8.26 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 0.47 and a beta of 1.77. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. Light & Wonder has a 12 month low of $67.71 and a 12 month high of $115.00. The stock’s 50 day moving average is $105.63 and its 200-day moving average is $100.66.

Light & Wonder (NASDAQ:LNW) last issued 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 in the prior year, the company earned $1.02 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. Equities research analysts expect that Light & Wonder will post 4.44 EPS for the current year.

Light & Wonder announced that its board has authorized a stock repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Burgundy Asset Management Ltd. increased its holdings in shares of Light & Wonder by 1.2% during the first quarter. Burgundy Asset Management Ltd. now owns 1,315,572 shares of the company’s stock worth $134,307,000 after buying an additional 15,902 shares in the last quarter. Ninety One UK Ltd raised its position in Light & Wonder by 128.0% in the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after purchasing an additional 511,081 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Light & Wonder by 95.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after purchasing an additional 438,443 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Light & Wonder by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 802,922 shares of the company’s stock valued at $84,215,000 after purchasing an additional 12,317 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Light & Wonder by 102.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after purchasing an additional 388,781 shares during the last quarter. 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.