Light & Wonder, Inc. (NASDAQ:LNW) Receives $106.60 Average Price Target from Analysts

Shares of Light & Wonder, Inc. (NASDAQ:LNW) have earned an average rating of “Hold” from the eleven research firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $106.60.

A number of research firms have weighed in on LNW. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Maxim Group assumed coverage on shares of Light & Wonder in a research report on Monday, August 26th. They set a “buy” rating and a $144.00 price target for the company. Truist Financial lifted their price objective on Light & Wonder from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their target price on Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a report on Thursday, August 8th. Finally, Susquehanna lowered their price target on Light & Wonder from $92.00 to $90.00 and set a “neutral” rating on the stock in a research note on Tuesday, September 24th.

Light & Wonder Stock Down 3.1 %

Shares of LNW opened at $87.91 on Friday. The stock’s 50-day moving average price is $104.63 and its 200-day moving average price is $100.38. 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 company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 36.48, a PEG ratio of 0.39 and a beta of 1.77. Light & Wonder has a 52 week low of $67.71 and a 52 week high of $115.00.

Light & Wonder (NASDAQ:LNW) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) 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 analysts’ expectations of $798.09 million. During the same period last year, the company posted $1.02 earnings per share. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Light & Wonder will post 4.44 EPS for the current year.

Light & Wonder announced that its board has initiated a share repurchase plan on Wednesday, August 7th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 10.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently modified their holdings of LNW. SG Americas Securities LLC increased its stake in Light & Wonder by 121.6% during the 2nd quarter. SG Americas Securities LLC now owns 14,263 shares of the company’s stock worth $1,496,000 after buying an additional 7,828 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Light & Wonder in the second quarter worth $23,597,000. M&G Plc purchased a new stake in shares of Light & Wonder during the first quarter worth $10,570,000. Intech Investment Management LLC acquired a new stake in shares of Light & Wonder in the second quarter valued at $1,620,000. Finally, Cibc World Markets Corp purchased a new position in Light & Wonder in the fourth quarter valued at $5,748,000. Hedge funds and other institutional investors own 88.08% of the company’s stock.

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.