Brightstar Lottery (NYSE:BRSL) Shares Up 7.2% Following Analyst Upgrade

Key Points

• Brightstar Lottery shares rose 7.2% after Jefferies upgraded the stock from Hold to Buy and set a $16 price target. The shares reached $12.23, while the broader analyst consensus remains Hold with an average target of $15.10.
• The company reported quarterly earnings of $0.11 per share, exceeding the consensus estimate of a $0.01 loss, on revenue of $584 million. Analysts expect full-year earnings of $0.35 per share.
• Brightstar Lottery declared a quarterly dividend of $0.23, equivalent to $0.92 annually and a 7.8% yield. Institutional investors own 44.33% of the company’s stock.

Brightstar Lottery (NYSE:BRSL - Get Free Report)'s stock price traded up 7.2% on Thursday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. Jefferies Financial Group now has a $16.00 price target on the stock. Brightstar Lottery traded as high as $12.23 and last traded at $12.1250. Approximately 246,026 shares changed hands during trading, a decline of 84% from the average session volume of 1,566,439 shares. The stock had previously closed at $11.31.

BRSL has been the topic of several other reports. Susquehanna cut their target price on Brightstar Lottery from $21.00 to $15.00 and set a "positive" rating on the stock in a research report on Thursday, May 14th. BNP Paribas Exane began coverage on Brightstar Lottery in a research note on Thursday, May 14th. They set a "neutral" rating and a $12.60 price target for the company. Truist Financial cut their price objective on Brightstar Lottery from $14.00 to $13.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Argus lowered Brightstar Lottery from a "buy" rating to a "hold" rating in a research note on Monday, June 29th. Finally, Zacks Research upgraded Brightstar Lottery from a "strong sell" rating to a "hold" rating in a report on Monday, July 13th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $15.10.

Institutional Investors Weigh In On Brightstar Lottery

Institutional investors and hedge funds have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. purchased a new stake in shares of Brightstar Lottery during the 4th quarter valued at about $31,000. NewEdge Advisors LLC purchased a new position in Brightstar Lottery in the 4th quarter worth approximately $32,000. Knott David M Jr acquired a new stake in Brightstar Lottery in the first quarter valued at approximately $32,000. Persistent Asset Partners Ltd acquired a new stake in Brightstar Lottery in the second quarter valued at approximately $31,000. Finally, Rockefeller Capital Management L.P. purchased a new stake in shares of Brightstar Lottery during the fourth quarter valued at approximately $52,000. Hedge funds and other institutional investors own 44.33% of the company's stock.

Brightstar Lottery Stock Up 4.9%

The company's 50 day moving average is $10.99. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.00 and a current ratio of 1.10. The stock has a market cap of $2.22 billion, a P/E ratio of 9.12 and a beta of 1.03.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $584.00 million during the quarter. Brightstar Lottery had a net margin of 10.05% and a return on equity of 10.47%. Equities analysts expect that Brightstar Lottery will post 0.35 earnings per share for the current year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 7.8%. The ex-dividend date of this dividend is Tuesday, August 18th. Brightstar Lottery's dividend payout ratio is presently 70.77%.

Brightstar Lottery Company Profile

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.

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