Light & Wonder, Inc. (NASDAQ:LNW) Receives Consensus Rating of “Hold” from Brokerages

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $74.73.

Several research analysts recently weighed in on LNW shares. Jefferies Financial Group increased their price objective on Light & Wonder from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, September 11th. Truist Financial raised their price objective on Light & Wonder from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Friday, September 8th. Susquehanna upped their target price on shares of Light & Wonder from $81.00 to $86.00 and gave the company a “positive” rating in a research report on Wednesday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Light & Wonder from $56.00 to $66.00 in a research report on Thursday, August 10th. Finally, Redburn Partners initiated coverage on Light & Wonder in a research note on Tuesday, August 22nd. They set a “buy” rating and a $104.00 price target on the stock.

Light & Wonder Price Performance

Shares of Light & Wonder stock opened at $79.75 on Thursday. The company has a debt-to-equity ratio of 3.14, a current ratio of 3.01 and a quick ratio of 2.69. The business has a 50 day simple moving average of $74.64 and a two-hundred day simple moving average of $69.37. The stock has a market capitalization of $7.29 billion, a P/E ratio of 20.14 and a beta of 1.82. Light & Wonder has a 12 month low of $53.10 and a 12 month high of $80.00.

Light & Wonder (NASDAQ:LNW) last issued its earnings results on Tuesday, August 8th. The company reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.69. Light & Wonder had a return on equity of 11.65% and a net margin of 13.88%. The company had revenue of $731.00 million during the quarter, compared to analysts’ expectations of $674.33 million. As a group, analysts predict that Light & Wonder will post 1.09 EPS for the current fiscal year.

Insider Activity

In related news, Director Maria T. Vullo sold 2,093 shares of the business’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $76.80, for a total transaction of $160,742.40. Following the sale, the director now owns 10,789 shares of the company’s stock, valued at $828,595.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On Light & Wonder

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LNW. Retirement Systems of Alabama acquired a new stake in shares of Light & Wonder in the third quarter valued at approximately $8,018,000. Renaissance Technologies LLC purchased a new position in Light & Wonder during the third quarter worth $632,000. Royal Bank of Canada acquired a new position in shares of Light & Wonder in the third quarter worth $315,000. Macquarie Group Ltd. acquired a new position in shares of Light & Wonder in the third quarter worth $124,000. Finally, First Trust Advisors LP purchased a new stake in shares of Light & Wonder in the third quarter valued at $836,000. Institutional investors and hedge funds own 85.98% of the company’s stock.

Light & Wonder Company Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. It operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to gaming operators.