Research Analysts Set Expectations for Light & Wonder, Inc.’s Q3 2024 Earnings (NASDAQ:LNW)

Light & Wonder, Inc. (NASDAQ:LNW) – Research analysts at B. Riley issued their Q3 2024 earnings per share estimates for Light & Wonder in a report issued on Monday, October 7th. B. Riley analyst D. Bain anticipates that the company will post earnings per share of $0.96 for the quarter. B. Riley has a “Strong-Buy” rating on the stock. The consensus estimate for Light & Wonder’s current full-year earnings is $4.44 per share. B. Riley also issued estimates for Light & Wonder’s Q4 2024 earnings at $0.91 EPS and FY2024 earnings at $4.06 EPS.

Light & Wonder (NASDAQ:LNW) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.14). Light & Wonder had a return on equity of 40.51% and a net margin of 9.92%. The firm had revenue of $818.00 million for the quarter, compared to the consensus estimate of $798.09 million. During the same quarter in the prior year, the firm earned $1.02 EPS. The company’s revenue was up 11.9% on a year-over-year basis.

A number of other research firms also recently weighed in on LNW. UBS Group upgraded shares of Light & Wonder from a “neutral” rating to a “buy” rating in a research report on Wednesday, September 25th. Maxim Group initiated coverage on shares of Light & Wonder in a research report on Monday, August 26th. They issued a “buy” rating and a $144.00 price target for the company. Craig Hallum upgraded shares of Light & Wonder to a “strong-buy” rating in a research report on Friday, October 4th. Macquarie dropped their price target on shares of Light & Wonder from $122.00 to $117.00 and set an “outperform” rating for the company in a research report on Wednesday, September 25th. Finally, Stifel Nicolaus dropped their price target on shares of Light & Wonder from $108.00 to $100.00 and set a “hold” rating for the company in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $107.82.

Light & Wonder Trading Up 0.0 %

Shares of NASDAQ:LNW opened at $96.08 on Thursday. Light & Wonder has a 12-month low of $71.63 and a 12-month high of $115.00. The stock has a market cap of $8.52 billion, a PE ratio of 39.87, a P/E/G ratio of 0.39 and a beta of 1.76. The business has a 50 day moving average of $103.26 and a 200-day moving average of $99.98. The company has a quick ratio of 1.58, a current ratio of 1.85 and a debt-to-equity ratio of 4.90.

Institutional Trading of Light & Wonder

A number of hedge funds and other institutional investors have recently modified their holdings of LNW. Ninety One UK Ltd grew its stake in shares of Light & Wonder by 128.0% during the second quarter. Ninety One UK Ltd now owns 910,298 shares of the company’s stock worth $95,472,000 after buying an additional 511,081 shares during the last quarter. Millennium Management LLC grew its stake in shares of Light & Wonder by 573.3% during the second quarter. Millennium Management LLC now owns 579,340 shares of the company’s stock worth $60,761,000 after buying an additional 493,295 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Light & Wonder by 95.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 896,372 shares of the company’s stock worth $73,601,000 after buying an additional 438,443 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 worth $78,320,000 after buying an additional 388,781 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Light & Wonder during the second quarter worth $23,597,000. Institutional investors own 88.08% of the company’s stock.

Light & Wonder announced that its board has authorized a share repurchase program on Wednesday, August 7th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 10.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

About Light & Wonder

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.