Brightstar Lottery (NYSE:BRSL) Releases Quarterly Earnings Results, Misses Estimates By $0.04 EPS

Brightstar Lottery (NYSE:BRSL) posted its earnings results on Tuesday. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.04), FiscalAI reports. The business had revenue of $587.00 million during the quarter. Brightstar Lottery had a return on equity of 9.81% and a net margin of 5.85%.Brightstar Lottery’s quarterly revenue was up .7% on a year-over-year basis.

Brightstar Lottery Stock Down 4.9%

Shares of NYSE:BRSL traded down $0.57 on Wednesday, hitting $10.98. 694,150 shares of the company traded hands, compared to its average volume of 1,437,228. Brightstar Lottery has a 52 week low of $10.98 and a 52 week high of $18.57. The business has a 50 day moving average price of $12.82. The company has a market capitalization of $2.05 billion, a P/E ratio of 14.44 and a beta of 1.04. The company has a current ratio of 0.76, a quick ratio of 0.72 and a debt-to-equity ratio of 2.55.

Brightstar Lottery Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Stockholders of record on Thursday, May 28th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, May 28th. This represents a $0.92 annualized dividend and a dividend yield of 8.4%. Brightstar Lottery’s dividend payout ratio (DPR) is presently 121.05%.

Institutional Investors Weigh In On Brightstar Lottery

Several large investors have recently bought and sold shares of the business. Fox Run Management L.L.C. bought a new stake in shares of Brightstar Lottery during the 4th quarter valued at about $1,127,000. Intech Investment Management LLC purchased a new position in shares of Brightstar Lottery during the 4th quarter valued at about $705,000. Nomura Asset Management Co. Ltd. bought a new stake in Brightstar Lottery in the 4th quarter worth approximately $31,000. Global Retirement Partners LLC bought a new position in Brightstar Lottery in the 4th quarter valued at $106,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in shares of Brightstar Lottery during the 4th quarter worth $4,270,000. 44.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BRSL has been the subject of several recent research reports. Jefferies Financial Group reduced 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 note on Monday, April 6th. Zacks Research upgraded shares of Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 28th. Truist Financial reduced their price target on shares of Brightstar Lottery from $17.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday. Stifel Nicolaus reissued a “buy” rating and set a $19.00 price objective (down from $20.00) on shares of Brightstar Lottery in a research note on Wednesday. Finally, Weiss Ratings lowered Brightstar Lottery from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.67.

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.