Shares of Light & Wonder, Inc. (NASDAQ:LNW - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $85.82, but opened at $93.00. Light & Wonder shares last traded at $94.22, with a volume of 245,770 shares.
Analysts Set New Price Targets
Several brokerages have commented on LNW. Benchmark dropped their price objective on 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 target on shares of Light & Wonder from $115.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. Mizuho boosted their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased 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, Stifel Nicolaus lifted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Light & Wonder has a consensus rating of "Moderate Buy" and an average target price of $107.00.
Read Our Latest Analysis on Light & Wonder
Light & Wonder Trading Up 9.7%
The company has a market capitalization of $7.95 billion, a PE ratio of 25.18, a PEG ratio of 0.36 and a beta of 1.23. The company has a fifty day simple moving average of $85.60 and a 200-day simple moving average of $90.18. The company has a current ratio of 1.57, a quick ratio of 1.35 and a debt-to-equity ratio of 6.26.
Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings data 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). Light & Wonder had a net margin of 10.45% and a return on equity of 68.41%. The firm had revenue of $774.00 million during the quarter, compared to analysts' expectations of $802.93 million. During the same period in the prior year, the company posted $0.88 EPS. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts predict that Light & Wonder, Inc. will post 4.3 EPS for the current year.
Hedge Funds Weigh In On Light & Wonder
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LNW. Vanguard Group Inc. grew its position in shares of Light & Wonder by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 8,492,524 shares of the company's stock worth $733,584,000 after buying an additional 100,527 shares in the last quarter. Burgundy Asset Management Ltd. lifted its stake in Light & Wonder by 6.9% in the first quarter. Burgundy Asset Management Ltd. now owns 1,574,589 shares of the company's stock worth $136,375,000 after acquiring an additional 102,051 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Light & Wonder by 321.7% in the 1st quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company's stock valued at $136,152,000 after purchasing an additional 1,199,213 shares during the last quarter. Ninety One UK Ltd raised its holdings in shares of Light & Wonder by 56.7% in the 1st quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company's stock valued at $101,728,000 after purchasing an additional 425,202 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Light & Wonder during the 4th quarter worth $91,683,000. Hedge funds and other institutional investors own 88.08% of the company's stock.
Light & Wonder Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Light & Wonder, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Light & Wonder wasn't on the list.
While Light & Wonder currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Today, we are inviting you to take a free peek at our proprietary, exclusive, and up-to-the-minute list of 20 stocks that Wall Street's top analysts hate.
Many of these appear to have good fundamentals and might seem like okay investments, but something is wrong. Analysts smell something seriously rotten about these companies. These are true "Strong Sell" stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
