Wall Street Zen Downgrades Light & Wonder (NASDAQ:LNW) to Hold

Light & Wonder (NASDAQ:LNW - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Sunday.

Several other research firms have also recently weighed in on LNW. Mizuho increased their price target on shares of Light & Wonder from $80.00 to $84.00 and gave the company an "underperform" rating in a research note on Thursday, May 8th. Stifel Nicolaus increased their price objective on Light & Wonder from $84.00 to $95.00 and gave the stock a "hold" rating in a research report on Thursday, May 8th. Jefferies Financial Group set a $116.00 target price on Light & Wonder in a research report on Wednesday, June 25th. Macquarie upped their price target on Light & Wonder from $120.00 to $122.00 and gave the company an "outperform" rating in a research note on Monday, June 16th. Finally, Benchmark lowered their price target on Light & Wonder from $130.00 to $100.00 and set a "buy" rating for the company in a report on Monday, May 12th. One equities 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $106.55.

Light & Wonder Stock Performance

NASDAQ LNW opened at $97.59 on Friday. The company has a debt-to-equity ratio of 6.26, a quick ratio of 1.35 and a current ratio of 1.57. The stock's fifty day moving average is $89.46 and its two-hundred day moving average is $90.95. The firm has a market capitalization of $8.23 billion, a P/E ratio of 26.02, a price-to-earnings-growth ratio of 0.43 and a beta of 1.23. Light & Wonder has a fifty-two week low of $75.46 and a fifty-two week high of $115.00.

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 the consensus estimate 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 for the quarter, compared to analyst estimates of $802.93 million. During the same period in the previous year, the firm posted $0.88 EPS. The company's revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that Light & Wonder will post 4.3 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.

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