Light & Wonder (NASDAQ:LNW) Price Target Raised to $120.00 at Truist Financial

Light & Wonder (NASDAQ:LNW) had its price target upped by Truist Financial from $115.00 to $120.00 in a research report released on Thursday morning, Benzinga reports. Truist Financial currently has a buy rating on the stock.

Other equities research analysts also recently issued reports about the company. Susquehanna downgraded Light & Wonder from a positive rating to a neutral rating and dropped their price objective for the stock from $111.00 to $95.00 in a report on Friday, May 10th. Mizuho dropped their price target on shares of Light & Wonder from $83.00 to $79.00 and set an underperform rating for the company in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Hold and an average price target of $95.50.

Light & Wonder Price Performance

Shares of LNW stock opened at $101.55 on Thursday. The firm has a fifty day simple moving average of $99.15 and a 200-day simple moving average of $94.37. The company has a market capitalization of $9.15 billion, a PE ratio of 42.14, a price-to-earnings-growth ratio of 0.42 and a beta of 1.79. Light & Wonder has a twelve month low of $67.71 and a twelve month high of $108.90. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 4.61.

Light & Wonder (NASDAQ:LNW) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.23. Light & Wonder had a net margin of 7.43% and a return on equity of 32.27%. The company had revenue of $756.00 million during the quarter, compared to analysts’ expectations of $732.01 million. Equities research analysts anticipate that Light & Wonder will post 4.21 earnings per share for the current fiscal year.

Institutional Trading of Light & Wonder

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank bought a new stake in shares of Light & Wonder during the 4th quarter valued at about $124,523,000. Goldman Sachs Group Inc. boosted its stake in Light & Wonder by 95.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock valued at $73,601,000 after acquiring an additional 438,443 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Light & Wonder by 102.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 767,155 shares of the company’s stock valued at $78,320,000 after purchasing an additional 388,781 shares during the last quarter. Ossiam acquired a new stake in shares of Light & Wonder during the 1st quarter worth approximately $13,578,000. Finally, M&G Plc bought a new stake in shares of Light & Wonder in the 1st quarter worth approximately $10,570,000. 88.08% of the stock is owned by institutional investors and hedge funds.

Light & Wonder Company Profile

Light & Wonder, Inc operates as a cross-platform games company in the United States and internationally. The company operates through three segments: Gaming, SciPlay, and iGaming segments. The Gaming segment sells game content and gaming machine; video gaming terminals; video lottery terminals, including conversion kits and spare parts; and table products, including automatic card shufflers, deck checkers, table roulette chip sorters and other land-based table gaming equipment.