Brokerages Set Light & Wonder, Inc. (NASDAQ:LNW) Price Target at $106.82

Shares of Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) have earned a consensus rating of "Moderate Buy" from the fourteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $106.82.

Several analysts have recently commented on LNW shares. Mizuho upped their price objective on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a report on Thursday, May 8th. Benchmark dropped their price objective on shares of Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Truist Financial dropped their price objective on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. upped their price objective on shares of Light & Wonder from $103.00 to $110.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Finally, Macquarie dropped their price objective on shares of Light & Wonder from $125.00 to $120.00 and set an "outperform" rating on the stock in a report on Thursday, May 8th.

Light & Wonder Stock Performance

Light & Wonder stock traded up $1.37 during mid-day trading on Friday, reaching $88.38. 625,379 shares of the company traded hands, compared to its average volume of 830,262. The company has a debt-to-equity ratio of 4.49, a current ratio of 1.88 and a quick ratio of 1.61. Light & Wonder has a fifty-two week low of $75.46 and a fifty-two week high of $115.00. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 0.35 and a beta of 1.23. The firm's fifty day moving average is $84.37 and its two-hundred day moving average is $91.05.

Light & Wonder (NASDAQ:LNW - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.17 by ($0.23). The company had revenue of $774.00 million for the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. On average, equities research analysts expect that Light & Wonder will post 4.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Light & Wonder

Several hedge funds and other institutional investors have recently bought and sold shares of LNW. Blue Trust Inc. increased its position in Light & Wonder by 194.3% during the fourth quarter. Blue Trust Inc. now owns 718 shares of the company's stock worth $65,000 after purchasing an additional 474 shares during the last quarter. Iridian Asset Management LLC CT increased its position in Light & Wonder by 94.3% during the fourth quarter. Iridian Asset Management LLC CT now owns 100,192 shares of the company's stock worth $8,655,000 after purchasing an additional 48,621 shares during the last quarter. CIBC Asset Management Inc increased its position in Light & Wonder by 2.5% during the fourth quarter. CIBC Asset Management Inc now owns 5,901 shares of the company's stock worth $510,000 after purchasing an additional 146 shares during the last quarter. New York State Common Retirement Fund increased its position in Light & Wonder by 0.5% during the fourth quarter. New York State Common Retirement Fund now owns 40,250 shares of the company's stock worth $3,477,000 after purchasing an additional 200 shares during the last quarter. Finally, Ieq Capital LLC boosted its stake in Light & Wonder by 590.3% during the fourth quarter. Ieq Capital LLC now owns 20,343 shares of the company's stock worth $1,757,000 after buying an additional 17,396 shares during the period. 88.08% of the stock is currently owned by institutional investors and hedge funds.

About Light & Wonder

Light & Wonder, Inc is a cross-platform global games company, which engages in the development of content and digital markets. It operates through the following segments: Gaming, SciPlay, and iGaming. The Gaming segment includes the design, manufacture, marketing, and distribution of portfolio of gaming products and services.