Brightstar Lottery (NYSE:BRSL) Hits New 52-Week Low – Here’s Why

Brightstar Lottery (NYSE:BRSL)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.41 and last traded at $10.4560, with a volume of 867859 shares. The stock had previously closed at $10.64.

Analysts Set New Price Targets

A number of brokerages recently commented on BRSL. Susquehanna reduced their price objective on shares of Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating for the company in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft began coverage on Brightstar Lottery in a research note on Wednesday, July 1st. They set a “buy” rating and a $15.00 target price for the company. BNP Paribas Exane assumed coverage on Brightstar Lottery in a report on Thursday, May 14th. They issued a “neutral” rating and a $12.60 price target for the company. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price target (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Brightstar Lottery in a report on Friday, July 10th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.77.

Brightstar Lottery Price Performance

The company has a market cap of $1.95 billion, a PE ratio of 12.60 and a beta of 1.00. The company’s 50 day moving average price is $11.11. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.84 and a current ratio of 0.88.

Brightstar Lottery (NYSE:BRSL) last issued its earnings results on Tuesday, May 12th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Brightstar Lottery had a net margin of 6.24% and a return on equity of 10.58%. The company’s quarterly revenue was up .7% compared to the same quarter last year. Sell-side analysts predict that Brightstar Lottery will post 0.4 earnings per share for the current year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend was Thursday, May 28th. Brightstar Lottery’s dividend payout ratio (DPR) is presently 110.84%.

Institutional Trading of Brightstar Lottery

A number of institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. acquired a new position in shares of Brightstar Lottery during the 4th quarter worth $44,820,000. Royce & Associates LP purchased a new stake in shares of Brightstar Lottery in the 4th quarter worth about $24,887,000. Intech Investment Management LLC acquired a new stake in Brightstar Lottery in the 4th quarter valued at about $705,000. Gabelli Funds LLC purchased a new position in Brightstar Lottery during the 4th quarter valued at about $7,388,000. Finally, HighTower Advisors LLC purchased a new position in Brightstar Lottery during the 4th quarter valued at about $4,541,000. 44.33% of the stock is currently owned by hedge funds and other institutional investors.

About Brightstar Lottery

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.