Light & Wonder, Inc. (NASDAQ:LNW) Receives Average Recommendation of “Hold” from Brokerages

Light & Wonder, Inc. (NASDAQ:LNW) has been assigned an average recommendation of “Hold” from the ten analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $105.00.

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus dropped their price objective on Light & Wonder from $95.00 to $83.00 and set a “hold” rating on the stock in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Light & Wonder in a report on Friday, October 31st. Finally, Benchmark raised their price target on shares of Light & Wonder from $90.00 to $110.00 and gave the company a “buy” rating in a report on Monday, December 1st.

Light & Wonder Stock Performance

Shares of LNW stock opened at $91.14 on Tuesday. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 23.01, a PEG ratio of 0.48 and a beta of 1.42. Light & Wonder has a 52-week low of $69.56 and a 52-week high of $113.94. The company has a quick ratio of 1.51, a current ratio of 1.77 and a debt-to-equity ratio of 6.86. The company’s 50 day moving average is $85.06 and its 200 day moving average is $88.45.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, November 5th. The company reported $1.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.36. Light & Wonder had a return on equity of 71.17% and a net margin of 10.89%.The business had revenue of $841.00 million for the quarter, compared to analysts’ expectations of $866.97 million. During the same quarter last year, the firm earned $0.71 EPS. The business’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, sell-side analysts anticipate that Light & Wonder will post 4.3 EPS for the current fiscal year.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC increased its holdings in shares of Light & Wonder by 2.3% in the third quarter. Quadrant Capital Group LLC now owns 5,501 shares of the company’s stock valued at $462,000 after purchasing an additional 122 shares during the period. Arizona State Retirement System boosted its position in Light & Wonder by 0.6% in the third quarter. Arizona State Retirement System now owns 24,955 shares of the company’s stock valued at $2,095,000 after buying an additional 143 shares during the last quarter. AlphaQuest LLC increased its holdings in Light & Wonder by 41.8% in the 2nd quarter. AlphaQuest LLC now owns 604 shares of the company’s stock worth $58,000 after buying an additional 178 shares during the period. IFP Advisors Inc increased its holdings in Light & Wonder by 198.9% in the 2nd quarter. IFP Advisors Inc now owns 269 shares of the company’s stock worth $26,000 after buying an additional 179 shares during the period. Finally, Savant Capital LLC raised its position in Light & Wonder by 6.3% during the 2nd quarter. Savant Capital LLC now owns 3,029 shares of the company’s stock worth $292,000 after buying an additional 180 shares during the last quarter. 88.08% of the stock is owned by hedge funds and other institutional investors.

Light & Wonder Company Profile

Light & Wonder, Inc (NASDAQ: LNW) is a global gaming and entertainment technology company formed in 2022 following the rebranding of Scientific Games. Headquartered in Las Vegas, Nevada, the company designs, develops and distributes a broad portfolio of products and services for the gaming, sports betting and lottery industries. Its offerings span gaming machines and table games, lottery systems and services, digital platforms and content, and player engagement solutions.

The company’s gaming machines segment includes slot machines, video lottery terminals and electronic table games, supported by proprietary hardware and software platforms.