Brightstar Lottery (NYSE:BRSL) Reaches New 12-Month Low Following Weak Earnings

Brightstar Lottery (NYSE:BRSL) hit a new 52-week low on Tuesday following a dissappointing earnings announcement. The stock traded as low as $11.77 and last traded at $11.8790, with a volume of 131625 shares. The stock had previously closed at $12.77.

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 5.85% and a return on equity of 9.81%. The firm’s revenue for the quarter was up .7% on a year-over-year basis.

Brightstar Lottery Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 10th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date was Tuesday, March 10th. Brightstar Lottery’s payout ratio is 121.05%.

Analyst Ratings Changes

BRSL has been the subject of several research analyst reports. Truist Financial raised Brightstar Lottery from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Stifel Nicolaus lowered their price target on Brightstar Lottery from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Zacks Research upgraded Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Weiss Ratings downgraded shares of Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. Finally, Jefferies Financial Group dropped their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $17.00.

Hedge Funds Weigh In On Brightstar Lottery

Several hedge funds and other institutional investors have recently modified their holdings of BRSL. Nomura Asset Management Co. Ltd. bought a new stake in shares of Brightstar Lottery in the fourth quarter worth about $31,000. NewEdge Advisors LLC bought a new position in Brightstar Lottery during the 4th quarter valued at approximately $32,000. Rockefeller Capital Management L.P. purchased a new stake in Brightstar Lottery in the 4th quarter worth approximately $52,000. Empowered Funds LLC bought a new stake in shares of Brightstar Lottery in the 4th quarter worth approximately $57,000. Finally, Quadrant Capital Group LLC bought a new stake in shares of Brightstar Lottery in the 4th quarter worth approximately $60,000. 44.33% of the stock is owned by institutional investors.

Brightstar Lottery Price Performance

The company has a debt-to-equity ratio of 2.55, a current ratio of 0.76 and a quick ratio of 0.72. The firm has a market capitalization of $2.23 billion, a PE ratio of 15.57 and a beta of 1.04. The company’s 50 day moving average is $12.86.

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.