Craig Hallum upgraded shares of Light & Wonder (NASDAQ:LNW – Free Report) to a strong-buy rating in a research note issued to investors on Friday morning, Zacks.com reports.
Other research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft increased 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. JPMorgan Chase & Co. raised their target price on Light & Wonder from $107.00 to $111.00 and gave the company an overweight rating in a report on Thursday, August 8th. Maxim Group initiated coverage on Light & Wonder in a research note on Monday, August 26th. They issued a buy rating and a $144.00 price objective on the stock. Macquarie decreased their target price on Light & Wonder from $122.00 to $117.00 and set an outperform rating for the company in a research report on Wednesday, September 25th. Finally, Susquehanna reduced their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a neutral rating for the company in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $106.60.
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Light & Wonder Stock Performance
Light & Wonder (NASDAQ:LNW – Get Free Report) 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). The company had revenue of $818.00 million for the quarter, compared to analyst estimates of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.02 EPS. Equities research analysts forecast that Light & Wonder will post 4.44 EPS for the current year.
Light & Wonder announced that its Board of Directors has authorized a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Institutional Investors Weigh In On Light & Wonder
A number of large investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new stake in shares of Light & Wonder during the 1st quarter valued at about $38,000. Fidelis Capital Partners LLC purchased a new stake in Light & Wonder during the first quarter valued at $38,000. GAMMA Investing LLC raised its position in Light & Wonder by 59.6% during the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after purchasing an additional 152 shares during the period. C M Bidwell & Associates Ltd. purchased a new position in Light & Wonder during the fourth quarter worth $69,000. Finally, KBC Group NV bought a new stake in shares of Light & Wonder during the 4th quarter worth approximately $153,000. 88.08% of the stock is currently owned by institutional investors.
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.
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