Light & Wonder (NASDAQ:LNW) PT Lowered to $100.00 at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its price target reduced by research analysts at Stifel Nicolaus from $108.00 to $100.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ target price would suggest a potential upside of 9.61% from the company’s current price.

Several other analysts also recently weighed in on the company. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Susquehanna decreased their target price 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. Macquarie raised their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, August 8th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a research note on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $107.10.

Light & Wonder Stock Performance

Shares of LNW traded up $0.52 during midday trading on Wednesday, hitting $91.23. 194,454 shares of the stock traded hands, compared to its average volume of 699,255. The business’s 50 day moving average price is $105.87 and its two-hundred day moving average price is $100.73. The firm has a market capitalization of $8.22 billion, a PE ratio of 37.76, a price-to-earnings-growth ratio of 0.47 and a beta of 1.77. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. Light & Wonder has a 1-year low of $67.71 and a 1-year high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its earnings results on Wednesday, August 7th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.14). The firm had revenue of $818.00 million during the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. Light & Wonder’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $1.02 EPS. Equities research analysts predict that Light & Wonder will post 4.44 EPS for the current fiscal year.

Light & Wonder announced that its board has initiated a share buyback plan on Wednesday, August 7th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Light & Wonder

A number of large investors have recently made changes to their positions in the business. UBS Group AG raised its holdings in shares of Light & Wonder by 18.8% during the fourth quarter. UBS Group AG now owns 271,108 shares of the company’s stock worth $22,261,000 after acquiring an additional 42,927 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Light & Wonder during the 4th quarter valued at about $1,361,000. US Bancorp DE lifted its holdings in shares of Light & Wonder by 1,103.6% during the 4th quarter. US Bancorp DE now owns 9,954 shares of the company’s stock valued at $817,000 after buying an additional 9,127 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its stake in shares of Light & Wonder by 1,626.9% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 8,807 shares of the company’s stock valued at $723,000 after buying an additional 8,297 shares in the last quarter. Finally, KBC Group NV acquired a new position in Light & Wonder in the fourth quarter worth approximately $153,000. 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.