Macquarie Lowers Light & Wonder (NASDAQ:LNW) Price Target to $117.00

Light & Wonder (NASDAQ:LNW) had its target price dropped by investment analysts at Macquarie from $122.00 to $117.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s target price would suggest a potential upside of 25.67% from the stock’s current price.

Several other equities research analysts have also issued reports on LNW. Stifel Nicolaus dropped their price target on Light & Wonder from $108.00 to $100.00 and set a “hold” rating on the stock in a research report on Wednesday. Maxim Group initiated coverage on shares of Light & Wonder in a report on Monday, August 26th. They set a “buy” rating and a $144.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Light & Wonder from $76.00 to $81.00 and gave the stock a “hold” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Light & Wonder from $107.00 to $111.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. Finally, UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research note on Wednesday. One investment 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. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.60.

Light & Wonder Price Performance

LNW opened at $93.10 on Wednesday. The company has a market capitalization of $8.26 billion, a P/E ratio of 38.63, a PEG ratio of 0.38 and a beta of 1.77. The company has a 50-day moving average of $105.44 and a 200-day moving average of $100.61. 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 1-year low of $67.71 and a 1-year high of $115.00.

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

Light & Wonder announced that its Board of Directors has approved a stock repurchase plan on Wednesday, August 7th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 10.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Light & Wonder

Several large investors have recently added to or reduced their stakes in LNW. Ninety One UK Ltd raised its position in shares of Light & Wonder by 128.0% during the 2nd quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares in the last quarter. Millennium Management LLC increased 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 period. Goldman Sachs Group Inc. raised its holdings in 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 in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Light & Wonder during the 2nd quarter valued at $23,597,000. 88.08% of the stock is currently owned by institutional investors and hedge funds.

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.