Brightstar Lottery (NYSE:BRSL) Hits New 12-Month Low – Here’s Why

Brightstar Lottery (NYSE:BRSL)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $10.64 and last traded at $10.6140, with a volume of 966261 shares trading hands. The stock had previously closed at $10.90.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BRSL. Truist Financial decreased their target price on Brightstar Lottery from $17.00 to $14.00 and set a “hold” rating for the company in a research report on Wednesday, May 13th. Susquehanna decreased their target price on Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating for the company in a research report on Thursday, May 14th. Weiss Ratings lowered Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, April 14th. BNP Paribas Exane assumed coverage on Brightstar Lottery in a research note on Thursday, May 14th. They issued a “neutral” rating and a $12.60 price objective on the stock. Finally, Jefferies Financial Group lowered their price objective 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. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $14.92.

Brightstar Lottery Stock Performance

The business’s 50 day moving average price is $12.47. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 10.90 and a beta of 1.04. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.88 and a quick ratio of 0.84.

Brightstar Lottery (NYSE:BRSL) last posted its 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). The company had revenue of $587.00 million for the quarter. Brightstar Lottery had a net margin of 6.24% and a return on equity of 10.58%. The firm’s revenue for the quarter was up .7% on a year-over-year basis. As a group, sell-side analysts expect that Brightstar Lottery will post 0.79 EPS for the current year.

Brightstar Lottery Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date of this dividend is Thursday, May 28th. Brightstar Lottery’s payout ratio is presently 110.84%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. purchased a new position in Brightstar Lottery during the 4th quarter valued at about $31,000. Knott David M Jr bought a new position in Brightstar Lottery in the 1st quarter worth about $32,000. NewEdge Advisors LLC bought a new position in Brightstar Lottery in the 4th quarter worth about $32,000. Rockefeller Capital Management L.P. bought a new position in Brightstar Lottery in the 4th quarter worth about $52,000. Finally, Empowered Funds LLC bought a new position in Brightstar Lottery in the 4th quarter worth about $57,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

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.