Light & Wonder, Inc. (NASDAQ:LNW) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $107.36.

LNW has been the topic of several research analyst reports. Maxim Group initiated coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price target on the stock. Truist Financial lowered their target price on Light & Wonder from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday. B. Riley assumed coverage on Light & Wonder in a research note on Tuesday, October 8th. They set a “buy” rating and a $120.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Finally, Benchmark restated a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research report on Thursday, August 8th.

Light & Wonder Stock Performance

NASDAQ LNW opened at $93.05 on Thursday. The firm has a market cap of $8.39 billion, a P/E ratio of 38.61, a P/E/G ratio of 0.39 and a beta of 1.76. Light & Wonder has a 52-week low of $72.06 and a 52-week high of $115.00. The business’s 50-day moving average price is $101.90 and its 200 day moving average price is $99.45. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90.

Light & Wonder (NASDAQ:LNW) last released 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). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The firm had revenue of $818.00 million during the quarter, compared to analyst estimates of $798.09 million. During the same quarter last year, the business posted $1.02 EPS. The firm’s revenue was up 11.9% on a year-over-year basis. On average, equities research analysts expect that Light & Wonder will post 4.44 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC acquired a new stake in Light & Wonder during the 3rd quarter valued at approximately $108,000. Keystone Wealth Services LLC acquired a new stake in shares of Light & Wonder during the third quarter worth approximately $340,000. Wedge Capital Management L L P NC increased its stake in shares of Light & Wonder by 6.2% in the third quarter. Wedge Capital Management L L P NC now owns 434,206 shares of the company’s stock worth $39,396,000 after buying an additional 25,284 shares during the last quarter. CWM LLC raised its holdings in Light & Wonder by 42,664.3% in the third quarter. CWM LLC now owns 5,987 shares of the company’s stock valued at $543,000 after acquiring an additional 5,973 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Light & Wonder by 120.1% during the 3rd quarter. GAMMA Investing LLC now owns 896 shares of the company’s stock valued at $81,000 after acquiring an additional 489 shares during the last quarter. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.