Brightstar Lottery (NYSE:BRSL) Stock Price Up 7.2% on Analyst Upgrade

Brightstar Lottery (NYSE:BRSL)’s stock price rose 7.2% during trading on Thursday after Jefferies Financial Group upgraded the stock from a hold rating to a buy rating. Jefferies Financial Group now has a $16.00 price target on the stock. Brightstar Lottery traded as high as $12.23 and last traded at $12.1250. 246,026 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 1,566,439 shares. The stock had previously closed at $11.31.

Several other research firms also recently issued reports on BRSL. Susquehanna dropped their price objective on Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating on the stock in a report on Thursday, May 14th. Truist Financial decreased their price target on shares of Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brightstar Lottery in a research note on Friday, July 10th. BNP Paribas Exane started coverage on shares of Brightstar Lottery in a report on Thursday, May 14th. They set a “neutral” rating and a $12.60 price objective for the company. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $19.00 target price (down from $20.00) on shares of Brightstar Lottery in a research report on Wednesday, May 13th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $15.10.

Hedge Funds Weigh In On Brightstar Lottery

Several large investors have recently added to or reduced their stakes in BRSL. Lazard Asset Management LLC acquired a new stake in shares of Brightstar Lottery during the fourth quarter worth $147,133,000. Brown Advisory Inc. acquired a new position in shares of Brightstar Lottery in the 4th quarter valued at about $44,820,000. State Street Corp acquired a new position in shares of Brightstar Lottery in the 4th quarter valued at about $29,860,000. Royce & Associates LP bought a new stake in shares of Brightstar Lottery during the 4th quarter valued at about $24,887,000. Finally, Geode Capital Management LLC bought a new stake in shares of Brightstar Lottery during the 4th quarter valued at about $19,684,000. 44.33% of the stock is currently owned by institutional investors.

Brightstar Lottery Stock Up 4.9%

The firm has a market cap of $2.22 billion, a PE ratio of 9.12 and a beta of 1.03. The stock has a 50 day moving average price of $10.99. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 2.16.

Brightstar Lottery (NYSE:BRSL) last issued its earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $584.00 million during the quarter. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. On average, analysts anticipate that Brightstar Lottery will post 0.35 EPS for the current fiscal year.

Brightstar Lottery Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be given a dividend of $0.23 per share. The ex-dividend date is Tuesday, August 18th. This represents a $0.92 dividend on an annualized basis and a yield of 7.8%. Brightstar Lottery’s payout ratio is currently 70.77%.

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.