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

Brightstar Lottery (NYSE:BRSL) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $12.76 and last traded at $12.8440, with a volume of 255280 shares changing hands. The stock had previously closed at $13.29.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BRSL shares. Weiss Ratings began coverage on Brightstar Lottery in a research note on Tuesday, February 3rd. They set a “hold (c-)” rating on the stock. Truist Financial upgraded Brightstar Lottery from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Finally, Stifel Nicolaus lowered their price target on Brightstar Lottery from $21.00 to $20.00 and set a “buy” rating for the company in a report on Thursday, February 19th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Brightstar Lottery presently has a consensus rating of “Buy” and a consensus price target of $20.00.

Brightstar Lottery Stock Up 1.9%

The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $2.43 billion, a PE ratio of 17.11 and a beta of 1.07.

Brightstar Lottery (NYSE:BRSL) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Brightstar Lottery had a net margin of 5.85% and a return on equity of 9.81%. The firm had revenue of $668.00 million for the quarter. During the same period last year, the firm earned $0.22 earnings per share. Brightstar Lottery’s quarterly revenue was up 2.6% compared to the same quarter last year.

Brightstar Lottery Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 10th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $0.92 dividend on an annualized basis and a yield of 7.1%. Brightstar Lottery’s payout ratio is currently 121.05%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC purchased a new position in shares of Brightstar Lottery in the fourth quarter worth about $1,318,000. Invesco Ltd. purchased a new stake in Brightstar Lottery in the fourth quarter valued at approximately $8,276,000. NewEdge Advisors LLC acquired a new position in Brightstar Lottery in the 4th quarter worth approximately $32,000. Empowered Funds LLC acquired a new position in Brightstar Lottery in the 4th quarter worth approximately $57,000. Finally, XTX Topco Ltd purchased a new position in Brightstar Lottery during the 4th quarter worth approximately $2,799,000. 44.33% of the stock is owned by institutional investors and hedge funds.

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.