Brightstar Lottery (NYSE:BRSL) Sets New 1-Year Low - Here's What Happened

Key Points

• Brightstar Lottery shares fell to a new 52-week low of $9.59, closing around $9.66 and trading 3.6% lower, below both its 50-day and 200-day moving averages.
• Analyst sentiment is mixed but leans cautious: the stock has a consensus “Hold” rating and a $15.10 average price target, while several firms recently downgraded their views.
• The company reported quarterly earnings of $0.11 per share, beating expectations, and maintains an attractive 9.6% annualized dividend yield based on its $0.23 quarterly payout.

Brightstar Lottery (NYSE:BRSL - Get Free Report) shares reached a new 52-week low on Wednesday. The stock traded as low as $9.59 and last traded at $9.66, with a volume of 382,847 shares. The stock had previously closed at $9.96.

Wall Street Analyst Weigh In

Several brokerages have recently commented on BRSL. Truist Financial reduced their price target on shares of Brightstar Lottery from $14.00 to $13.00 and set a "hold" rating on the stock in a research report on Monday, July 20th. Wall Street Zen downgraded Brightstar Lottery from a "hold" rating to a "sell" rating in a research note on Saturday, August 15th. Weiss Ratings restated a "sell (d+)" rating on shares of Brightstar Lottery in a research note on Tuesday, October 6th. Argus downgraded Brightstar Lottery from a "buy" rating to a "hold" rating in a report on Monday, June 29th. Finally, Zacks Research upgraded shares of Brightstar Lottery from a "strong sell" rating to a "hold" rating in a research report on Monday, July 13th. Four 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. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $15.10.

Brightstar Lottery Stock Down 3.6%

The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 7.40, a price-to-earnings-growth ratio of 4.05 and a beta of 1.18. The stock has a 50-day moving average of $10.80 and a 200-day moving average of $11.31. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 2.16.

Brightstar Lottery (NYSE:BRSL - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. The firm had revenue of $584.00 million for the quarter. As a group, sell-side analysts forecast that Brightstar Lottery will post 0.35 EPS for the current fiscal year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th were given a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.92 dividend on an annualized basis and a yield of 9.6%. Brightstar Lottery's dividend payout ratio (DPR) is presently 70.77%.

Institutional Trading of Brightstar Lottery

A number of institutional investors and hedge funds have recently modified their holdings of BRSL. BlackRock Inc. grew its stake in shares of Brightstar Lottery by 16.5% during the second quarter. BlackRock Inc. now owns 6,785,934 shares of the company's stock worth $72,745,000 after purchasing an additional 961,306 shares during the period. Brown Advisory Inc. bought a new stake in shares of Brightstar Lottery during the fourth quarter worth $44,820,000. Bank of America Corp DE lifted its holdings in shares of Brightstar Lottery by 17.3% in the first quarter. Bank of America Corp DE now owns 1,031,022 shares of the company's stock valued at $13,135,000 after purchasing an additional 151,839 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Brightstar Lottery by 1.0% in the second quarter. Deutsche Bank AG now owns 854,803 shares of the company's stock valued at $9,163,000 after purchasing an additional 8,479 shares during the last quarter. Finally, Orvieto Partners L.P. boosted its stake in shares of Brightstar Lottery by 2.0% during the 1st quarter. Orvieto Partners L.P. now owns 753,596 shares of the company's stock worth $9,601,000 after buying an additional 15,000 shares during the last quarter. 44.33% of the stock is currently owned by institutional investors and hedge funds.

Brightstar Lottery Company Profile

Brightstar Lottery Corporation NYSE: BRSL is a global lottery technology and services company. The company provides governments and lottery operators with products and solutions for draw-based games, instant-ticket lotteries, and digital or iLottery programs.

Its offerings include lottery management systems, point-of-sale terminals, transaction processing, gaming content, digital platforms, player engagement tools, analytics, and related operational and technology services. Brightstar also supports the design, production, and distribution of lottery products, helping customers manage retail and online lottery channels.

Brightstar Lottery was established as the standalone company formed from International Game Technology's former Global Lottery business.

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