Stifel Nicolaus Trims Light & Wonder (NASDAQ:LNW) Target Price to $100.00

Light & Wonder (NASDAQ:LNW) had its target price decreased by Stifel Nicolaus from $108.00 to $100.00 in a research report released on Wednesday morning, Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

LNW has been the topic of several other research reports. Benchmark reiterated a buy rating and set a $114.00 price target on shares of Light & Wonder in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on Light & Wonder from $107.00 to $111.00 and gave the stock an overweight rating in a research note on Thursday, August 8th. UBS Group upgraded Light & Wonder from a neutral rating to a buy rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Light & Wonder from $76.00 to $81.00 and gave the stock a hold rating in a report on Thursday, August 8th. Finally, Susquehanna reduced their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average price target of $106.60.

Light & Wonder Stock Performance

NASDAQ:LNW opened at $92.38 on Wednesday. The company has a market cap 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 has a fifty-two week low of $67.71 and a fifty-two week high of $115.00. The company has a debt-to-equity ratio of 4.90, a quick ratio of 1.58 and a current ratio of 1.85. The stock has a fifty day moving average price of $105.25 and a 200-day moving average price of $100.55.

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

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in LNW. Rise Advisors LLC acquired a new position in Light & Wonder in the 1st quarter valued at approximately $38,000. Fidelis Capital Partners LLC acquired a new position in shares of Light & Wonder during the first quarter worth $38,000. GAMMA Investing LLC grew its stake in shares of Light & Wonder by 59.6% in the second quarter. GAMMA Investing LLC now owns 407 shares of the company’s stock worth $43,000 after purchasing an additional 152 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in Light & Wonder in the fourth quarter valued at $69,000. Finally, KBC Group NV acquired a new stake in Light & Wonder in the fourth quarter valued at $153,000. Institutional investors own 88.08% of the company’s stock.

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.