Truist Financial Trims Light & Wonder (NASDAQ:LNW) Target Price to $115.00

Light & Wonder (NASDAQ:LNW) had its price objective cut by Truist Financial from $120.00 to $115.00 in a report issued on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also recently issued reports on LNW. Craig Hallum raised shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Susquehanna lowered 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, September 24th. Benchmark reissued a “buy” rating and set a $114.00 target price on shares of Light & Wonder in a research report on Thursday, August 8th. Maxim Group assumed coverage on Light & Wonder in a report on Monday, August 26th. They issued a “buy” rating and a $144.00 price target for the company. Finally, UBS Group raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Light & Wonder has an average rating of “Moderate Buy” and a consensus target price of $107.36.

Light & Wonder Trading Up 1.8 %

NASDAQ:LNW opened at $95.13 on Wednesday. Light & Wonder has a 12-month low of $72.06 and a 12-month high of $115.00. The firm has a market cap of $8.44 billion, a PE ratio of 28.65, a price-to-earnings-growth ratio of 0.39 and a beta of 1.76. The company has a current ratio of 1.85, a quick ratio of 1.58 and a debt-to-equity ratio of 4.90. The stock has a fifty day moving average price of $101.35 and a 200 day moving average price of $99.33.

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

Light & Wonder announced that its Board of Directors has authorized a stock buyback program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Light & Wonder

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fidelis Capital Partners LLC purchased a new stake in shares of Light & Wonder in the first quarter valued at approximately $38,000. GAMMA Investing LLC grew its stake in shares of Light & Wonder by 59.6% during the 2nd quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Light & Wonder during the 3rd quarter worth $108,000. Smith Anglin Financial LLC purchased a new position in shares of Light & Wonder in the 2nd quarter valued at about $213,000. Finally, Cynosure Group LLC acquired a new stake in shares of Light & Wonder in the first quarter valued at about $310,000. 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.