Truist Financial Cuts Brightstar Lottery (NYSE:BRSL) Price Target to $14.00

Brightstar Lottery (NYSE:BRSL) had its price target reduced by Truist Financial from $17.00 to $14.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. Truist Financial currently has a hold rating on the stock.

A number of other analysts also recently weighed in on BRSL. Stifel Nicolaus restated a “buy” rating and issued a $19.00 price target (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday. Weiss Ratings downgraded Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. Jefferies Financial Group decreased their price target on Brightstar Lottery from $15.00 to $14.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Zacks Research upgraded Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Two analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Brightstar Lottery has an average rating of “Hold” and a consensus target price of $14.92.

Brightstar Lottery Trading Down 3.7%

Shares of BRSL stock opened at $10.71 on Wednesday. The company has a 50 day moving average of $12.67. Brightstar Lottery has a twelve month low of $10.67 and a twelve month high of $18.57. The stock has a market cap of $2.00 billion, a P/E ratio of 12.91 and a beta of 1.04. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 1.79.

Brightstar Lottery (NYSE:BRSL) last posted its quarterly earnings results on Tuesday, May 12th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). Brightstar Lottery had a net margin of 6.24% and a return on equity of 10.58%. The business had revenue of $587.00 million during the quarter. The company’s quarterly revenue was up .7% compared to the same quarter last year. As a group, equities analysts predict that Brightstar Lottery will post 0.79 earnings per share for the current fiscal year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 28th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $0.92 annualized dividend and a yield of 8.6%. Brightstar Lottery’s payout ratio is currently 110.84%.

Hedge Funds Weigh In On Brightstar Lottery

A number of institutional investors have recently made changes to their positions in the stock. Gabelli Funds LLC raised its holdings in shares of Brightstar Lottery by 6.5% in the first quarter. Gabelli Funds LLC now owns 508,266 shares of the company’s stock worth $6,475,000 after acquiring an additional 31,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Brightstar Lottery by 2.1% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 132,704 shares of the company’s stock worth $1,691,000 after acquiring an additional 2,750 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Brightstar Lottery by 0.8% in the first quarter. Gamco Investors INC. ET AL now owns 277,075 shares of the company’s stock worth $3,530,000 after acquiring an additional 2,200 shares during the last quarter. Inceptionr LLC acquired a new position in shares of Brightstar Lottery in the first quarter worth $412,000. Finally, Knott David M Jr acquired a new position in shares of Brightstar Lottery in the first quarter worth $32,000. 44.33% of the stock is owned by institutional investors and hedge funds.

About Brightstar Lottery

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean. It operates in three segments: Global Lottery, Global Gaming, and Digital & Betting. The company designs, sells, operates, and leases a suite of point-of-sale machines that reconciles lottery funds between the retailer and lottery authority; provides online lottery transaction processing systems; produces instant ticket games; and offers printing services, such as instant ticket marketing plans and graphic design, programming, packaging, shipping, and delivery services.