Light & Wonder (NASDAQ:LNW) Price Target Lowered to $117.00 at Macquarie

Light & Wonder (NASDAQ:LNW) had its price objective lowered by equities research analysts at Macquarie from $122.00 to $117.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price target points to a potential upside of 26.91% from the stock’s previous close.

Other analysts have also issued research reports about the company. Maxim Group assumed coverage on Light & Wonder in a research note on Monday, August 26th. They set a “buy” rating and a $144.00 price objective for the company. Truist Financial raised their price target on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Deutsche Bank Aktiengesellschaft raised their price target on 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 price target on Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Light & Wonder presently has an average rating of “Hold” and an average price target of $106.60.

Light & Wonder Price Performance

LNW traded up $1.48 during midday trading on Wednesday, hitting $92.19. The stock had a trading volume of 659,402 shares, compared to its average volume of 702,071. The company has a market cap of $8.31 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 0.47 and a beta of 1.77. Light & Wonder has a 1 year low of $67.71 and a 1 year high of $115.00. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The business has a fifty day moving average of $105.87 and a 200 day moving average of $100.73.

Light & Wonder (NASDAQ:LNW) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). The company had revenue of $818.00 million for the quarter, compared to analysts’ expectations of $798.09 million. Light & Wonder had a net margin of 9.92% and a return on equity of 40.51%. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $1.02 EPS. As a group, equities analysts forecast that Light & Wonder will post 4.44 earnings per share for the current fiscal year.

Light & Wonder declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 10.1% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Light & Wonder

Institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in Light & Wonder in the 1st quarter worth about $38,000. Fidelis Capital Partners LLC bought a new stake in Light & Wonder in the 1st quarter worth about $38,000. GAMMA Investing LLC increased its holdings in Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after buying an additional 152 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in Light & Wonder in the 4th quarter worth about $69,000. Finally, KBC Group NV bought a new stake in Light & Wonder in the 4th quarter worth about $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.