Brightstar Lottery (NYSE:BRSL) Hits New 52-Week Low on Analyst Downgrade

Brightstar Lottery (NYSE:BRSL)’s share price reached a new 52-week low during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $13.00 to $11.00. Truist Financial currently has a hold rating on the stock. Brightstar Lottery traded as low as $9.35 and last traded at $9.4190, with a volume of 1,754,853 shares. The stock had previously closed at $9.50.

A number of other analysts have also issued reports on BRSL. Weiss Ratings restated a “sell (d+)” rating on shares of Brightstar Lottery in a research report on Tuesday, October 6th. Stifel Nicolaus set a $19.00 price target on Brightstar Lottery in a report on Friday, September 25th. Wall Street Zen lowered Brightstar Lottery from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Deutsche Bank Aktiengesellschaft initiated coverage on Brightstar Lottery in a research report on Wednesday, July 1st. They issued a “buy” rating and a $15.00 price objective for the company. Finally, Argus lowered Brightstar Lottery from a “buy” rating to a “hold” rating in a research note on Monday, June 29th. Four equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $14.77.

Hedge Funds Weigh In On Brightstar Lottery

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Brightstar Lottery by 16.5% during the 2nd quarter. BlackRock Inc. now owns 6,785,934 shares of the company’s stock worth $72,745,000 after purchasing an additional 961,306 shares during the period. Bank of America Corp DE raised its position in Brightstar Lottery by 17.3% in the first quarter. Bank of America Corp DE now owns 1,031,022 shares of the company’s stock valued at $13,135,000 after purchasing an additional 151,839 shares during the period. Deutsche Bank AG lifted its stake in shares of Brightstar Lottery by 1.0% during the second quarter. Deutsche Bank AG now owns 854,803 shares of the company’s stock worth $9,163,000 after purchasing an additional 8,479 shares in the last quarter. Orvieto Partners L.P. boosted its position in shares of Brightstar Lottery by 2.0% in the first quarter. Orvieto Partners L.P. now owns 753,596 shares of the company’s stock worth $9,601,000 after buying an additional 15,000 shares during the period. Finally, Gabelli Funds LLC boosted its position in shares of Brightstar Lottery by 6.5% in the first quarter. Gabelli Funds LLC now owns 508,266 shares of the company’s stock worth $6,475,000 after buying an additional 31,000 shares during the period. Hedge funds and other institutional investors own 44.33% of the company’s stock.

Brightstar Lottery Trading Down 1.7%

The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 2.16. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 7.08, a price-to-earnings-growth ratio of 3.82 and a beta of 1.18. The business has a 50 day moving average price of $10.59 and a 200-day moving average price of $11.17.

Brightstar Lottery (NYSE:BRSL) last announced its earnings results on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. The business had revenue of $584.00 million for the quarter. Brightstar Lottery had a return on equity of 10.47% and a net margin of 10.05%. As a group, research analysts expect that Brightstar Lottery will post 0.35 EPS for the current fiscal year.

Brightstar Lottery Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend was Tuesday, August 18th. Brightstar Lottery’s payout ratio is presently 70.77%.

Brightstar Lottery Company Profile

Brightstar Lottery plc is a global provider of lottery technology, products and services to government-sponsored and commercial lottery operators. The company helps lotteries manage retail and digital operations, improve player engagement and deliver draw-based and instant-win games.

Its offerings include lottery management systems, retail terminals and software, point-of-sale solutions, instant-ticket products, draw-based games and iLottery platforms. Brightstar also provides related digital services, analytics and operational support designed to help lottery operators run secure, efficient and omnichannel programs.

Brightstar Lottery traces its operations to the global lottery business formerly owned by International Game Technology.