Susquehanna Cuts Light & Wonder (NASDAQ:LNW) Price Target to $90.00

Light & Wonder (NASDAQ:LNW) had its target price lowered by equities researchers at Susquehanna from $92.00 to $90.00 in a research note issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Susquehanna’s target price points to a potential downside of 20.13% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Macquarie upped their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Stifel Nicolaus upped their price objective on Light & Wonder from $98.00 to $106.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft lifted 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. Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 price target on the stock. Finally, Truist Financial increased their price objective on Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Light & Wonder has an average rating of “Hold” and an average target price of $107.70.

Light & Wonder Stock Up 0.1 %

LNW stock opened at $112.68 on Tuesday. The business has a 50 day moving average of $106.16 and a 200 day moving average of $100.80. The firm has a market cap of $10.16 billion, a PE ratio of 46.76, a price-to-earnings-growth ratio of 0.46 and a beta of 1.77. Light & Wonder has a twelve month low of $67.71 and a twelve month high of $115.00. 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 issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.14). The company had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. Light & Wonder’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.02 earnings per share. On average, research analysts forecast that Light & Wonder will post 4.44 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Light & Wonder

A number of institutional investors have recently bought and sold shares of LNW. Rise Advisors LLC bought a new stake in Light & Wonder during the 1st quarter worth approximately $38,000. Fidelis Capital Partners LLC bought a new stake in shares of Light & Wonder during the 1st quarter valued at $38,000. GAMMA Investing LLC lifted its stake in shares of Light & Wonder by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after buying an additional 152 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in Light & Wonder in the 4th quarter worth $69,000. Finally, KBC Group NV bought a new stake in Light & Wonder during the fourth quarter valued at about $153,000. 88.08% of the stock is owned by 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.