Light & Wonder (NASDAQ:LNW) Stock Price Expected to Rise, Truist Financial Analyst Says

Light & Wonder (NASDAQ:LNW) had its price objective increased by Truist Financial from $110.00 to $130.00 in a research report sent to investors on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on LNW. Benchmark lowered their target price on Light & Wonder from $130.00 to $100.00 and set a “buy” rating for the company in a report on Monday, May 12th. Wall Street Zen downgraded shares of Light & Wonder from a “buy” rating to a “hold” rating in a research report on Sunday, July 13th. Macquarie boosted their target price on shares of Light & Wonder from $120.00 to $122.00 and gave the company an “outperform” rating in a research report on Monday, June 16th. Jefferies Financial Group set a $116.00 target price on shares of Light & Wonder in a research note on Wednesday, June 25th. Finally, Mizuho lifted their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $108.36.

Light & Wonder Price Performance

LNW stock opened at $97.63 on Wednesday. The company has a quick ratio of 1.35, a current ratio of 1.57 and a debt-to-equity ratio of 6.26. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 0.58 and a beta of 1.23. The company’s fifty day simple moving average is $90.36 and its 200 day simple moving average is $91.32. Light & Wonder has a 12-month low of $75.46 and a 12-month high of $115.00.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.23). Light & Wonder had a return on equity of 68.41% and a net margin of 10.45%. The business had revenue of $774.00 million during the quarter, compared to the consensus estimate of $802.93 million. During the same period last year, the business posted $0.88 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, analysts expect that Light & Wonder will post 4.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LNW. Pure Financial Advisors LLC purchased a new position in shares of Light & Wonder during the second quarter valued at approximately $218,000. Truist Financial Corp lifted its stake in Light & Wonder by 12.3% during the 2nd quarter. Truist Financial Corp now owns 7,040 shares of the company’s stock valued at $678,000 after acquiring an additional 770 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new position in Light & Wonder during the 2nd quarter worth $333,000. Armstrong Advisory Group Inc. bought a new stake in shares of Light & Wonder in the 2nd quarter worth $289,000. Finally, Wedge Capital Management L L P NC grew its stake in shares of Light & Wonder by 9.7% in the 2nd quarter. Wedge Capital Management L L P NC now owns 416,087 shares of the company’s stock worth $40,053,000 after acquiring an additional 36,887 shares in the last quarter. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About Light & Wonder

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.