Brightstar Lottery (NYSE:BRSL) Reaches New 12-Month Low Following Weak Earnings

Brightstar Lottery (NYSE:BRSL)’s share price reached a new 52-week low on Tuesday following a dissappointing earnings announcement. The company traded as low as $11.77 and last traded at $11.8790, with a volume of 131625 shares changing hands. The stock had previously closed at $12.77.

The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.04). The company had revenue of $587.00 million during the quarter. Brightstar Lottery had a return on equity of 9.81% and a net margin of 5.85%.Brightstar Lottery’s revenue was up .7% compared to the same quarter last year.

Brightstar Lottery Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Tuesday, March 10th. Brightstar Lottery’s payout ratio is presently 121.05%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on BRSL. Stifel Nicolaus lowered their target price on Brightstar Lottery from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Thursday, February 19th. Jefferies Financial Group reduced 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. Zacks Research raised Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Truist Financial upgraded shares of Brightstar Lottery from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings downgraded shares of Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $17.00.

Hedge Funds Weigh In On Brightstar Lottery

Several institutional investors and hedge funds have recently modified their holdings of BRSL. Nomura Asset Management Co. Ltd. purchased a new position in shares of Brightstar Lottery in the 4th quarter worth about $31,000. NewEdge Advisors LLC purchased a new stake in Brightstar Lottery during the 4th quarter valued at about $32,000. Rockefeller Capital Management L.P. purchased a new stake in Brightstar Lottery during the 4th quarter valued at about $52,000. Empowered Funds LLC bought a new stake in Brightstar Lottery during the 4th quarter valued at about $57,000. Finally, Quadrant Capital Group LLC purchased a new position in Brightstar Lottery in the fourth quarter worth about $60,000. 44.33% of the stock is currently owned by institutional investors.

Brightstar Lottery Price Performance

The company has a 50 day moving average of $12.86. The stock has a market cap of $2.23 billion, a PE ratio of 15.57 and a beta of 1.04. The company has a debt-to-equity ratio of 2.55, a quick ratio of 0.72 and a current ratio of 0.76.

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.