Truist Financial Raises Light & Wonder (NASDAQ:LNW) Price Target to $130.00

Light & Wonder (NASDAQ:LNW - Get Free Report) had its price target boosted by Truist Financial from $110.00 to $130.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's price objective points to a potential upside of 32.34% from the stock's previous close.

A number of other equities analysts have also recently weighed in on the company. Jefferies Financial Group set a $116.00 price target on Light & Wonder in a research note on Wednesday, June 25th. Stifel Nicolaus lifted their price target on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research note on Thursday, May 8th. Macquarie lifted their price target on Light & Wonder from $120.00 to $122.00 and gave the stock an "outperform" rating in a research note on Monday, June 16th. Wall Street Zen cut Light & Wonder from a "buy" rating to a "hold" rating in a research note on Sunday. Finally, Benchmark dropped their price target on Light & Wonder from $130.00 to $100.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating, four have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $108.36.

Light & Wonder Price Performance

NASDAQ:LNW traded up $0.24 during mid-day trading on Wednesday, reaching $98.23. 727,124 shares of the stock were exchanged, compared to its average volume of 792,371. The business has a fifty day moving average price of $89.69 and a 200 day moving average price of $91.15. The firm has a market capitalization of $8.29 billion, a PE ratio of 26.19, a PEG ratio of 0.42 and a beta of 1.23. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00. 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 issued its 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 during the quarter, compared to analyst estimates of $802.93 million. Light & Wonder had a return on equity of 68.41% and a net margin of 10.45%. The business's revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. 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 large investors have recently made changes to their positions in LNW. Bessemer Group Inc. grew its stake 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 buying an additional 1,199,213 shares in the last quarter. Norges Bank bought a new stake in shares of Light & Wonder in the 4th quarter valued at approximately $91,683,000. Park West Asset Management LLC bought a new stake in shares of Light & Wonder in the 4th quarter valued at approximately $46,241,000. Ninety One UK Ltd grew its stake 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 buying an additional 425,202 shares in the last quarter. Finally, Wedge Capital Management L L P NC bought a new stake in shares of Light & Wonder in the 1st quarter valued at approximately $32,843,000. Institutional investors own 88.08% of the company's stock.

Light & Wonder Company Profile

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.