Light & Wonder (NASDAQ:LNW) Price Target Lowered to $100.00 at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its price target dropped by Stifel Nicolaus from $108.00 to $100.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price target would indicate a potential upside of 9.61% from the company’s current price.

LNW has been the subject of several other reports. Susquehanna reduced their price objective on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating for the company in a research report on Tuesday. Maxim Group assumed coverage on shares of Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 price target on the stock. UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday. Macquarie lifted their target price on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Finally, Truist Financial upped their price target on Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $107.10.

Light & Wonder Stock Performance

NASDAQ:LNW traded up $0.52 during midday trading on Wednesday, reaching $91.23. The stock had a trading volume of 194,454 shares, compared to its average volume of 699,255. The stock has a market capitalization of $8.22 billion, a P/E ratio of 37.76, a PEG ratio of 0.47 and a beta of 1.77. The company has a debt-to-equity ratio of 4.90, a current ratio of 1.85 and a quick ratio of 1.58. Light & Wonder has a 1-year low of $67.71 and a 1-year high of $115.00. The firm’s fifty day simple moving average is $105.87 and its 200-day simple moving average is $100.73.

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

Light & Wonder announced that its board has authorized a share repurchase plan on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 10.1% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Light & Wonder

A number of large investors have recently modified their holdings of LNW. SG Americas Securities LLC grew its holdings in shares of Light & Wonder by 121.6% during the second quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock worth $1,496,000 after purchasing an additional 7,828 shares during the last quarter. M&G Plc bought a new stake in Light & Wonder during the first quarter valued at $10,570,000. Cibc World Markets Corp acquired a new position in Light & Wonder in the fourth quarter valued at approximately $5,748,000. Intech Investment Management LLC bought a new position in shares of Light & Wonder during the 2nd quarter worth about $1,620,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in Light & Wonder by 1,626.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 8,807 shares of the company’s stock worth $723,000 after acquiring an additional 8,297 shares in the last quarter. Institutional investors and hedge funds own 88.08% 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. 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.