Light & Wonder (NASDAQ:LNW) Given New $130.00 Price Target at Truist Financial

Light & Wonder (NASDAQ:LNW - Get Free Report) had its price objective hoisted by analysts at Truist Financial from $110.00 to $130.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 33.16% from the company's current price.

Other equities analysts have also issued reports about the company. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research report on Wednesday, June 25th. Mizuho raised their price target on Light & Wonder from $80.00 to $84.00 and gave the stock an "underperform" rating in a report on Thursday, May 8th. Wall Street Zen downgraded Light & Wonder from a "buy" rating to a "hold" rating in a research note on Sunday, July 13th. Stifel Nicolaus lifted their target price on Light & Wonder from $84.00 to $95.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Finally, Benchmark cut their target price 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 research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $108.36.

Light & Wonder Stock Performance

Shares of Light & Wonder stock traded down $0.60 during trading hours on Wednesday, hitting $97.63. 371,772 shares of the company were exchanged, compared to its average volume of 793,083. 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. The business has a 50-day moving average of $90.36 and a 200-day moving average of $91.32. The stock has a market capitalization of $8.24 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.58 and a beta of 1.23.

Light & Wonder (NASDAQ:LNW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share 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 quarter in the prior year, the business earned $0.88 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts expect that Light & Wonder will post 4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Light & Wonder

A number of institutional investors have recently made changes to their positions in LNW. Versant Capital Management Inc increased its stake in shares of Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company's stock worth $25,000 after purchasing an additional 287 shares during the period. Farther Finance Advisors LLC raised its holdings in Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company's stock valued at $63,000 after acquiring an additional 695 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Light & Wonder in the 1st quarter valued at approximately $71,000. CX Institutional acquired a new position in Light & Wonder in the 1st quarter valued at approximately $87,000. Finally, US Bancorp DE grew its stake in shares of Light & Wonder by 18.7% in the 1st quarter. US Bancorp DE now owns 1,164 shares of the company's stock valued at $101,000 after purchasing an additional 183 shares during the period. 88.08% of the stock is currently owned by institutional investors.

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.