Light & Wonder (NASDAQ:LNW) Shares Down 4.9% After Analyst Downgrade

Posted by on Aug 2nd, 2022

Shares of Light & Wonder, Inc. (NASDAQ:LNW – Get Rating) traded down 4.9% during mid-day trading on Monday after Stifel Nicolaus lowered their price target on the stock from $61.00 to $51.00. The stock traded as low as $48.17 and last traded at $48.42. 2,359 shares traded hands during trading, a decline of 100% from the average session volume of 790,912 shares. The stock had previously closed at $50.94.

LNW has been the subject of a number of other research reports. Truist Financial lowered their target price on shares of Light & Wonder from $85.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Light & Wonder from $53.00 to $48.00 in a research note on Thursday, July 14th.

Light & Wonder Stock Down 3.6 %

The stock has a market cap of $4.70 billion, a price-to-earnings ratio of 11.84 and a beta of 1.70. The business has a fifty day moving average price of $49.16.

Light & Wonder (NASDAQ:LNW – Get Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.41) by ($0.31). Light & Wonder had a negative return on equity of 8.77% and a net margin of 16.02%. The firm had revenue of $572.00 million for the quarter, compared to analysts’ expectations of $563.35 million. During the same quarter last year, the firm posted ($0.16) earnings per share. The firm’s revenue for the quarter was up 26.3% compared to the same quarter last year. Equities analysts forecast that Light & Wonder, Inc. will post 0.18 EPS for the current fiscal year.

Light & Wonder Company Profile

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Light & Wonder, Inc develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally. The company's Gaming segment sells new and used gaming machines, electronic table systems, video lottery terminals, conversion game kits, and spare parts; table products, including shufflers; and perpetual licenses to proprietary table games.

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