Light & Wonder, Inc. (NASDAQ:LNW) Receives Consensus Rating of “Moderate Buy” from Analysts

Light & Wonder, Inc. (NASDAQ:LNW) has earned a consensus recommendation of “Moderate Buy” from the fourteen research firms that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $106.82.

LNW has been the subject of a number of recent research reports. Citigroup raised shares of Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Mizuho lifted their target price on shares of Light & Wonder from $80.00 to $84.00 and gave the company an “underperform” rating in a report on Thursday, May 8th. JPMorgan Chase & Co. lifted their price target on shares of Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Benchmark dropped their price target on shares of Light & Wonder from $130.00 to $100.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. Finally, Stifel Nicolaus lifted their target price on shares of Light & Wonder from $84.00 to $95.00 and gave the stock a “hold” rating in a research note on Thursday, May 8th.

Hedge Funds Weigh In On Light & Wonder

A number of institutional investors and hedge funds have recently made changes to their positions in LNW. Bessemer Group Inc. grew its position in shares of Light & Wonder by 321.7% during the first quarter. Bessemer Group Inc. now owns 1,572,022 shares of the company’s stock worth $136,152,000 after buying an additional 1,199,213 shares in the last quarter. Norges Bank acquired a new position in shares of Light & Wonder during the fourth quarter worth about $91,683,000. Park West Asset Management LLC acquired a new position in shares of Light & Wonder during the fourth quarter worth about $46,241,000. Ninety One UK Ltd grew its position in shares of Light & Wonder by 56.7% during the first quarter. Ninety One UK Ltd now owns 1,174,556 shares of the company’s stock worth $101,728,000 after buying an additional 425,202 shares in the last quarter. Finally, Wedge Capital Management L L P NC acquired a new position in shares of Light & Wonder during the first quarter worth about $32,843,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Stock Up 2.7%

NASDAQ:LNW opened at $90.80 on Friday. The company’s 50-day simple moving average is $84.50 and its 200-day simple moving average is $91.05. The stock has a market capitalization of $7.66 billion, a P/E ratio of 28.20, a P/E/G ratio of 0.35 and a beta of 1.23. The company has a debt-to-equity ratio of 4.49, a quick ratio of 1.61 and a current ratio of 1.88. Light & Wonder has a fifty-two week low of $75.46 and a fifty-two week high of $115.00.

Light & Wonder (NASDAQ:LNW) last released its earnings results on Wednesday, May 7th. The company reported $0.94 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 49.91% and a net margin of 9.30%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.88 earnings per share. On average, equities analysts anticipate that Light & Wonder will post 4.3 earnings per share for the current fiscal year.

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.