Light & Wonder (NASDAQ:LNW) Stock Price Expected to Rise, Macquarie Analyst Says

Light & Wonder (NASDAQ:LNW) had its price objective raised by research analysts at Macquarie from $120.00 to $122.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price target would indicate a potential upside of 44.64% from the company’s previous close.

Several other equities research analysts have also recently commented on LNW. JPMorgan Chase & Co. lifted their target price on Light & Wonder from $103.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Benchmark decreased their price target on Light & Wonder from $130.00 to $100.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Citigroup raised Light & Wonder from a “neutral” rating to a “buy” rating in a report on Wednesday, February 19th. Mizuho raised their target price 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. Finally, Truist Financial lowered their price target on shares of Light & Wonder from $115.00 to $110.00 and set a “buy” rating for the company in a research report on Wednesday, April 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $107.00.

Light & Wonder Price Performance

LNW stock traded up $2.21 during midday trading on Monday, reaching $84.35. 361,932 shares of the company’s stock traded hands, compared to its average volume of 832,151. The company has a 50-day simple moving average of $84.89 and a two-hundred day simple moving average of $90.74. The company has a quick ratio of 1.61, a current ratio of 1.88 and a debt-to-equity ratio of 4.49. Light & Wonder has a 1-year low of $75.46 and a 1-year high of $115.00. The company has a market cap of $7.12 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 0.35 and a beta of 1.23.

Light & Wonder (NASDAQ:LNW) last announced its earnings results on Wednesday, May 7th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.23). Light & Wonder had a net margin of 9.30% and a return on equity of 49.91%. The business had revenue of $774.00 million during the quarter, compared to analyst estimates of $802.93 million. During the same quarter last year, the business posted $0.88 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, analysts anticipate that Light & Wonder will post 4.3 earnings per share for the current year.

Hedge Funds Weigh In On Light & Wonder

Several institutional investors and hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in Light & Wonder by 4,783.3% in the first quarter. Versant Capital Management Inc now owns 293 shares of the company’s stock valued at $25,000 after acquiring an additional 287 shares during the period. Farther Finance Advisors LLC grew its position in shares of Light & Wonder by 3,861.1% in the 1st quarter. Farther Finance Advisors LLC now owns 713 shares of the company’s stock valued at $63,000 after purchasing an additional 695 shares during the period. Blue Trust Inc. increased its stake in Light & Wonder by 194.3% during the 4th quarter. Blue Trust Inc. now owns 718 shares of the company’s stock worth $65,000 after purchasing an additional 474 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Light & Wonder during the 1st quarter worth approximately $71,000. Finally, CX Institutional acquired a new position in shares of Light & Wonder in the first quarter valued at approximately $87,000. Institutional investors and hedge funds own 88.08% of the company’s stock.

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.