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

Light & Wonder (NASDAQ:LNW) had its target price decreased by Macquarie from $122.00 to $117.00 in a report released on Wednesday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

LNW has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their price target on Light & Wonder from $76.00 to $81.00 and gave the company a hold rating in a research note on Thursday, August 8th. UBS Group raised Light & Wonder from a neutral rating to a buy rating in a research report on Wednesday. JPMorgan Chase & Co. upped their price target on Light & Wonder from $107.00 to $111.00 and gave the stock an overweight rating in a report on Thursday, August 8th. Stifel Nicolaus dropped their price objective on Light & Wonder from $108.00 to $100.00 and set a hold rating on the stock in a research note on Wednesday. Finally, Susquehanna cut their price objective on shares of Light & Wonder from $92.00 to $90.00 and set a neutral rating on the stock in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average price target of $106.60.

Light & Wonder Price Performance

Shares of NASDAQ:LNW opened at $92.38 on Wednesday. The stock’s 50 day moving average is $105.25 and its 200-day moving average is $100.55. Light & Wonder has a twelve month low of $67.71 and a twelve month high of $115.00. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90. The firm has a market capitalization of $8.20 billion, a price-to-earnings ratio of 38.33, a PEG ratio of 0.38 and a beta of 1.77.

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 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%. The business’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.02 EPS. Sell-side analysts forecast that Light & Wonder will post 4.44 EPS for the current fiscal year.

Light & Wonder announced that its board has authorized a stock repurchase program on Wednesday, August 7th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Institutional Investors Weigh In On Light & Wonder

Institutional investors have recently bought and sold shares of the stock. Ninety One UK Ltd boosted its position in Light & Wonder by 128.0% during the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock valued at $95,472,000 after buying an additional 511,081 shares during the period. Millennium Management LLC raised its stake in shares of Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock valued at $60,761,000 after acquiring an additional 493,295 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Light & Wonder by 95.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after purchasing an additional 438,443 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Light & Wonder by 102.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock worth $78,320,000 after purchasing an additional 388,781 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Light & Wonder during the 2nd quarter valued at about $23,597,000. 88.08% of the stock is currently owned by hedge funds and other institutional investors.

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.