Brightstar Lottery (NYSE:BRSL) Reaches New 52-Week Low – Here’s What Happened

Shares of Brightstar Lottery (NYSE:BRSL) reached a new 52-week low during 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.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BRSL. Deutsche Bank Aktiengesellschaft assumed coverage on Brightstar Lottery in a research report on Wednesday, July 1st. They set a “buy” rating and a $15.00 price objective for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brightstar Lottery in a report on Friday, July 10th. Zacks Research raised Brightstar Lottery from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Jefferies Financial Group reduced their price objective on Brightstar Lottery from $15.00 to $14.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Finally, Truist Financial decreased their price objective on Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating on the stock in a research note on Monday. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $14.77.

Brightstar Lottery Trading Down 1.7%

The firm has a market capitalization of $1.95 billion, a P/E ratio of 12.60 and a beta of 1.00. The company has a 50 day simple moving average of $11.11. The company has a current ratio of 0.88, a quick ratio of 0.84 and a debt-to-equity ratio of 1.79.

Brightstar Lottery (NYSE:BRSL) last announced its quarterly earnings data on Tuesday, May 12th. The company reported $0.14 EPS 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%. Brightstar Lottery’s revenue for the quarter was up .7% compared to the same quarter last year. On average, equities research analysts expect that Brightstar Lottery will post 0.4 earnings per share for the current fiscal year.

Brightstar Lottery Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 11th. Shareholders of record on Thursday, May 28th were issued a $0.23 dividend. The ex-dividend date was Thursday, May 28th. This represents a $0.92 annualized dividend and a yield of 8.8%. Brightstar Lottery’s payout ratio is 110.84%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BRSL. Lazard Asset Management LLC purchased a new position in shares of Brightstar Lottery during the 4th quarter worth about $147,133,000. Brown Advisory Inc. acquired a new stake in shares of Brightstar Lottery in the fourth quarter worth approximately $44,820,000. State Street Corp purchased a new stake in Brightstar Lottery in the fourth quarter valued at approximately $29,860,000. Royce & Associates LP purchased a new stake in Brightstar Lottery in the fourth quarter valued at approximately $24,887,000. Finally, Geode Capital Management LLC acquired a new position in Brightstar Lottery during the fourth quarter worth approximately $19,684,000. Institutional investors and hedge funds 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.