Brightstar Lottery (NYSE:BRSL) Sets New 1-Year Low – Here’s Why

Brightstar Lottery (NYSE:BRSL) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.41 and last traded at $10.4560, with a volume of 867859 shares changing hands. The stock had previously closed at $10.64.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on BRSL shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brightstar Lottery in a research report on Friday, July 10th. Susquehanna cut their price objective on shares of Brightstar Lottery from $21.00 to $15.00 and set a “positive” rating for the company in a research report on Thursday, May 14th. Jefferies Financial Group cut their price objective on shares of Brightstar Lottery from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Monday, April 6th. BNP Paribas Exane initiated coverage on Brightstar Lottery in a research note on Thursday, May 14th. They issued a “neutral” rating and a $12.60 price objective for the company. Finally, Argus cut Brightstar Lottery from a “buy” rating to a “hold” rating in a report on Monday, June 29th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $14.77.

Brightstar Lottery Trading Down 1.4%

The stock has a market cap of $1.92 billion, a P/E ratio of 12.40 and a beta of 1.00. The business has a 50 day moving average of $11.08. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.84 and a current ratio of 0.88.

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 return on equity of 10.58% and a net margin of 6.24%.The company’s revenue for the quarter was up .7% compared to the same quarter last year. Sell-side analysts anticipate that Brightstar Lottery will post 0.4 EPS for the current year.

Brightstar Lottery Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 11th. Investors of record on Thursday, May 28th were paid a dividend of $0.23 per share. The ex-dividend date was Thursday, May 28th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 8.9%. Brightstar Lottery’s payout ratio is 110.84%.

Institutional Investors Weigh In On Brightstar Lottery

A number of institutional investors have recently bought and sold shares of the business. Brown Advisory Inc. purchased a new position in Brightstar Lottery during the fourth quarter valued at $44,820,000. Royce & Associates LP bought a new stake in Brightstar Lottery in the 4th quarter valued at $24,887,000. Intech Investment Management LLC bought a new stake in Brightstar Lottery in the 4th quarter valued at $705,000. HighTower Advisors LLC purchased a new stake in Brightstar Lottery in the 4th quarter worth $4,541,000. Finally, Gabelli Funds LLC purchased a new stake in Brightstar Lottery in the 4th quarter worth $7,388,000. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Brightstar Lottery Company Profile

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.