Light & Wonder (NASDAQ:LNW) Given New $100.00 Price Target at Stifel Nicolaus

Light & Wonder (NASDAQ:LNW) had its target price cut by analysts at Stifel Nicolaus from $108.00 to $100.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 7.41% from the company’s previous close.

A number of other analysts have also weighed in on LNW. Deutsche Bank Aktiengesellschaft raised their target price on shares of Light & Wonder from $76.00 to $81.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Benchmark reissued a “buy” rating and set a $114.00 price objective on shares of Light & Wonder in a report on Thursday, August 8th. UBS Group raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday. Truist Financial lifted their price target on Light & Wonder from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Finally, Macquarie boosted their price target on Light & Wonder from $120.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Light & Wonder has an average rating of “Hold” and a consensus target price of $106.60.

Light & Wonder Trading Up 1.6 %

Shares of LNW opened at $93.10 on Wednesday. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. Light & Wonder has a 52-week low of $67.71 and a 52-week high of $115.00. The firm has a market cap of $8.26 billion, a price-to-earnings ratio of 38.63, a PEG ratio of 0.38 and a beta of 1.77. The business’s fifty day moving average is $105.44 and its 200-day moving average is $100.61.

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

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in LNW. Ninety One UK Ltd grew its stake in Light & Wonder by 128.0% during the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after purchasing an additional 511,081 shares during the period. Millennium Management LLC boosted its holdings in shares of Light & Wonder by 573.3% during the 2nd quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Light & Wonder by 95.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after buying an additional 438,443 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of Light & Wonder by 102.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after acquiring an additional 388,781 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Light & Wonder during the 2nd quarter valued at $23,597,000. 88.08% of the stock is owned by 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.