Light & Wonder (NASDAQ:LNW) Upgraded by UBS Group to Buy

UBS Group upgraded shares of Light & Wonder (NASDAQ:LNW) from a neutral rating to a buy rating in a research note released on Wednesday morning, Marketbeat.com reports.

Several other analysts have also issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a hold rating in a report on Thursday, August 8th. Benchmark restated a buy rating and set a $114.00 price target on shares of Light & Wonder in a research note on Thursday, August 8th. Stifel Nicolaus raised their price objective on Light & Wonder from $98.00 to $106.00 and gave the stock a hold rating in a research report on Tuesday, July 23rd. Macquarie boosted their price objective on Light & Wonder from $120.00 to $122.00 and gave the company an outperform rating in a research report on Thursday, August 8th. Finally, Susquehanna reduced their target price on Light & Wonder from $92.00 to $90.00 and set a neutral rating for the company in a research report on Tuesday, September 24th. 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 stock. Based on data from MarketBeat, Light & Wonder has an average rating of Hold and a consensus target price of $106.60.

Light & Wonder Stock Down 0.8 %

LNW opened at $92.38 on Wednesday. Light & Wonder has a twelve month low of $67.71 and a twelve month 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 50 day moving average price of $105.25 and a 200 day moving average price of $100.55. The firm has a market cap of $8.20 billion, a P/E ratio of 38.33, a price-to-earnings-growth ratio of 0.38 and a beta of 1.77.

Light & Wonder (NASDAQ:LNW) last released its earnings results 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). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The firm had revenue of $818.00 million for the quarter, compared to analyst estimates of $798.09 million. The firm’s revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.02 EPS. Research analysts forecast that Light & Wonder will post 4.44 EPS for the current year.

Light & Wonder announced that its Board of Directors has approved a share buyback program on Wednesday, August 7th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 10.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Rise Advisors LLC acquired a new position in Light & Wonder during the first quarter valued at approximately $38,000. Fidelis Capital Partners LLC acquired a new position in shares of Light & Wonder in the 1st quarter valued at $38,000. GAMMA Investing LLC increased its position in shares of Light & Wonder by 59.6% in the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock valued at $43,000 after buying an additional 152 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Light & Wonder during the 4th quarter worth $69,000. Finally, KBC Group NV bought a new position in Light & Wonder during the fourth quarter worth about $153,000. 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.