Brightstar Lottery (NYSE:BRSL) Sets New 12-Month Low – Here’s What Happened

Brightstar Lottery (NYSE:BRSL)’s stock price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $9.35 and last traded at $9.4190, with a volume of 1,754,853 shares changing hands. The stock had previously closed at $9.50.

Analysts Set New Price Targets

Several brokerages have issued reports on BRSL. Deutsche Bank Aktiengesellschaft initiated coverage on Brightstar Lottery in a report on Wednesday, July 1st. They issued a “buy” rating and a $15.00 price target for the company. Zacks Research raised Brightstar Lottery from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Stifel Nicolaus set a $19.00 price objective on Brightstar Lottery in a report on Friday, September 25th. Truist Financial decreased their price objective on Brightstar Lottery from $14.00 to $13.00 and set a “hold” rating for the company in a research report on Monday, July 20th. Finally, Wall Street Zen lowered Brightstar Lottery from a “hold” rating to a “sell” rating in a research report on Saturday, August 15th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Brightstar Lottery presently has an average rating of “Hold” and a consensus price target of $15.10.

Brightstar Lottery Price Performance

The company’s 50-day moving average price is $10.67 and its 200-day moving average price is $11.22. The company has a debt-to-equity ratio of 2.16, a current ratio of 1.10 and a quick ratio of 1.00. The company has a market cap of $1.76 billion, a P/E ratio of 9.79, a P/E/G ratio of 3.88 and a beta of 1.18.

Brightstar Lottery (NYSE:BRSL) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The business had revenue of $584.00 million for the quarter. Brightstar Lottery had a net margin of 10.05% and a return on equity of 10.47%. As a group, sell-side analysts predict that Brightstar Lottery will post 0.35 earnings per share for the current fiscal year.

Brightstar Lottery Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This represents a $0.92 annualized dividend and a dividend yield of 9.8%. Brightstar Lottery’s dividend payout ratio (DPR) is currently 70.77%.

Institutional Trading of Brightstar Lottery

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

Brightstar Lottery Company Profile

Brightstar Lottery Corporation (NYSE: BRSL) is a global lottery technology and services company. The company provides governments and lottery operators with products and solutions for draw-based games, instant-ticket lotteries, and digital or iLottery programs.

Its offerings include lottery management systems, point-of-sale terminals, transaction processing, gaming content, digital platforms, player engagement tools, analytics, and related operational and technology services. Brightstar also supports the design, production, and distribution of lottery products, helping customers manage retail and online lottery channels.

Brightstar Lottery was established as the standalone company formed from International Game Technology’s former Global Lottery business.