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

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have been given a consensus recommendation of “Hold” by the ten brokerages that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $105.00.

LNW has been the topic of several recent research reports. Stifel Nicolaus reduced their price objective on Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research report on Tuesday, October 28th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Light & Wonder in a research note on Friday, October 31st. Finally, Benchmark lifted their price target on shares of Light & Wonder from $90.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, December 1st.

Institutional Trading of Light & Wonder

Hedge funds have recently added to or reduced their stakes in the business. Consolidated Press International Holdings Ltd. grew its position in shares of Light & Wonder by 27.7% during the 3rd quarter. Consolidated Press International Holdings Ltd. now owns 2,903,594 shares of the company’s stock worth $243,728,000 after buying an additional 630,000 shares in the last quarter. UBS Group AG lifted its stake in Light & Wonder by 74.7% in the third quarter. UBS Group AG now owns 2,224,565 shares of the company’s stock worth $186,730,000 after acquiring an additional 950,892 shares during the period. Capital Research Global Investors lifted its stake in Light & Wonder by 43.3% in the third quarter. Capital Research Global Investors now owns 1,986,835 shares of the company’s stock worth $166,775,000 after acquiring an additional 600,091 shares during the period. Burgundy Asset Management Ltd. grew its holdings in Light & Wonder by 3.7% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 1,632,562 shares of the company’s stock worth $157,150,000 after acquiring an additional 57,973 shares in the last quarter. Finally, Norges Bank purchased a new position in Light & Wonder during the 2nd quarter valued at about $99,368,000. 88.08% of the stock is owned by institutional investors.

Light & Wonder Stock Performance

Light & Wonder stock opened at $91.14 on Tuesday. The firm’s fifty day moving average price is $85.06 and its 200-day moving average price is $88.45. The company has a debt-to-equity ratio of 6.86, a quick ratio of 1.51 and a current ratio of 1.77. The stock has a market cap of $7.43 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 0.48 and a beta of 1.42. Light & Wonder has a fifty-two week low of $69.56 and a fifty-two week high of $113.94.

Light & Wonder (NASDAQ:LNW) last released its earnings results on Wednesday, November 5th. The company reported $1.81 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.36. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.The business had revenue of $841.00 million for the quarter, compared to analysts’ expectations of $866.97 million. During the same quarter in the prior year, the firm earned $0.71 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis. On average, equities research analysts expect that Light & Wonder will post 4.3 earnings per share for the current fiscal year.

Light & Wonder Company Profile

Light & Wonder, Inc (NASDAQ: LNW) is a global gaming and entertainment technology company formed in 2022 following the rebranding of Scientific Games. Headquartered in Las Vegas, Nevada, the company designs, develops and distributes a broad portfolio of products and services for the gaming, sports betting and lottery industries. Its offerings span gaming machines and table games, lottery systems and services, digital platforms and content, and player engagement solutions.

The company’s gaming machines segment includes slot machines, video lottery terminals and electronic table games, supported by proprietary hardware and software platforms.