Light & Wonder, Inc.

Gaming technology stock Light & Wonder (NASDAQ: LNW) -- formerly known as Scientific Games -- proved to be quite the solid bet on Wednesday. On some very positive news in the legal sphere, investors piled into the company's shares, pumping them more than 10% higher in price. That looked especially good when compared to the S&P 500's (SNPINDEX: ^GSPC) flatline performance.
A Wonderful turn of events in a court case
Light & Wonder is currently locked in a legal dispute with peer company Aristocrat Leisure. Aristocrat is accusing it of copying elements from one of its casino slot games in the design of Light & Wonder's Dragon Train game.
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On Wednesday, the Nevada court in which the case is being heard made a ruling on discovery that favors Light & Wonder. It ruled that the company will not have to reveal its math models on the slot games in question. In addition, the court asked for specificity from Aristocrat regarding the trade secrets it's litigating to protect.
Aristocrat, which is headquartered in Australia, brought its case against the American company in 2024. At the time, it stated in a press release that it "will seek all appropriate remedies to address the harm caused by Light & Wonder's actions."
Not the time to celebrate yet
Light & Wonder had, understandably, been fairly quiet about the case. Perhaps it'll speak up more now that it seems to be tilting in its favor.
Having said that, I wouldn't be ready to break out the champagne if I were a shareholder, at least not yet. Court cases can develop and resolve in unexpected ways, and Light & Wonder isn't out of the woods. I don't think anyone should buy or sell the company's stock based on predictions of the lawsuit's outcome.
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Eric Volkman has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Light & Wonder. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Light & Wonder Stock Blasted 10% Higher Today

In trading on Wednesday, shares of Light & Wonder Inc (Symbol: LNW) crossed above their 200 day moving average of $92.95, changing hands as high as $96.08 per share. Light & Wonder Inc shares are currently trading up about 9.7% on the day. The chart below shows the one year performance of LNW shares, versus its 200 day moving average:
Looking at the chart above, LNW's low point in its 52 week range is $75.455 per share, with $114.405 as the 52 week high point — that compares with a last trade of $94.75.
Click here to find out which 9 other stocks recently crossed above their 200 day moving average »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Light & Wonder Breaks Above 200-Day Moving Average - Bullish for LNW

The following are the top rated Consumer Discretionary stocks according to Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields.
AUTOLIV INC (ALV) is a mid-cap value stock in the Auto & Truck Parts industry. The rating according to our strategy based on Joel Greenblatt is 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Autoliv, Inc. is a developer, manufacturer, and supplier of safety systems to the automotive industry with a range of product offerings, primarily passive safety systems. Passive safety systems include modules and components for frontal-impact airbag protection systems, side-impact airbag protection systems, seatbelts, steering wheels, inflator technologies and battery cut-off switches. The Company also develops and manufactures mobility safety solutions, such as pedestrian protection, battery cut-off switches, connected safety services and safety solutions for riders of powered two wheelers. The Company has one operating segment, which includes AutolivGs airbag and seatbelt products and components. Its subsidiaries include Autoliv AB and Autoliv ASP, Inc. The Company operates its business in geographical regions, such as Europe, the Americas, China, Japan, and the Rest of Asia (ROA). The Company has approximately 62 production facilities in 25 countries.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of AUTOLIV INC
ALV Guru Analysis
ALV Fundamental Analysis
LIGHT & WONDER INC (LNW) is a mid-cap growth stock in the Personal & Household Prods. industry. The rating according to our strategy based on Joel Greenblatt is 70% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Light & Wonder, Inc. is a cross-platform global games company with a focus on content and digital markets. The Company's segments include Gaming, SciPlay and iGaming. Gaming segment designs, develops, manufactures, markets and distributes a comprehensive portfolio of gaming content, products and services. It provides its gaming portfolio of products and services to commercial casinos, Native American casinos, wide-area gaming operators, such as licensed betting offices (LBOs), arcade and bingo operators in the United Kingdom and continental Europe, and government agencies and their affiliated operators. It also provides electronic pull-tabs for charitable gaming in the United States. SciPlay segment is a developer and publisher of digital games on online platforms and operates primarily in the social gaming market. iGaming segment provides a suite of digital gaming content, distribution platforms, player account management systems, as well as various other iGaming content and services.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of LIGHT & WONDER INC
LNW Guru Analysis
LNW Fundamental Analysis
BUILD-A-BEAR WORKSHOP, INC (BBW) is a small-cap value stock in the Retail (Specialty) industry. The rating according to our strategy based on Joel Greenblatt is 70% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Build-A-Bear Workshop, Inc. is an experiential specialty retailer where children and their families can create their own stuffed animals by participating in the stuffing, fluffing, dressing, accessorizing, and naming of their own teddy bears and other plush toys. Its segments include direct-to-consumer (DTC), commercial, and international franchising. Its DTC segment includes the operating activities of corporately-managed stores, other retail-delivered operations and online sales. Its commercial segment includes transactions with other businesses and is comprised of wholesale sales of merchandise, supplies and fixtures, licensing the CompanyGs intellectual properties for third-party use, and entertainment activities. Its international franchising segment includes the activities of franchisees who operate store locations in certain countries and includes development fees, sales-based royalties, merchandise, supplies and fixture sales. It has over 368 corporate-managed stores globally.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of BUILD-A-BEAR WORKSHOP, INC
BBW Guru Analysis
BBW Fundamental Analysis
BEST BUY CO INC (BBY) is a large-cap growth stock in the Retail (Specialty) industry. The rating according to our strategy based on Joel Greenblatt is 70% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Best Buy Co., Inc. is engaged in personalizing and humanizing technology solutions. It operates in two segments: Domestic and International. The Domestic segment comprises its operations in all states, districts and territories of the United States and its Best Buy Health business, and includes the brand names Best Buy, Best Buy Ads, Best Buy Business, Best Buy Essentials, Best Buy Health, Current Health, Geek Squad, Imagine That, Insignia, Lively, My Best Buy, My Best Buy Memberships, Pacific Kitchen and Home, TechLiquidators and Yardbird; and the domain names bestbuy.com, currenthealth.com, lively.com, techliquidators.com and yardbird.com. The International segment comprises all operations in Canada under the brand names Best Buy, Best Buy Express, Best Buy Mobile, Geek Squad and TechLiquidators and the domain names bestbuy.ca and techliquidators.ca. Its product categories include computing and mobile phones, consumer electronics, appliances, entertainment, services and others.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of BEST BUY CO INC
BBY Guru Analysis
BBY Fundamental Analysis
Joel Greenblatt Portfolio
Top Joel Greenblatt Stocks
About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Greenblatt also produced exceptional returns as managing partner at Gotham Capital, a New York City-based hedge fund he founded. The firm averaged a remarkable 40 percent annualized return over more than two decades.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
At Validea we believe the best way to outperform the market is to follow the investment factors and strategies that have done so over long periods of time. Since 2003, our team has been dedicated to bringing the fundamental strategies of great investors and academics to the professional and retail investment communities via the tools, portfolios and research found on Validea.

Validea's Top Consumer Discretionary Stocks Based On Joel Greenblatt - 6/17/2025

Looking at the underlying holdings of the ETFs in our coverage universe at ETF Channel, we have compared the trading price of each holding against the average analyst 12-month forward target price, and computed the weighted average implied analyst target price for the ETF itself. For the iShares Core S&P U.S. Growth ETF (Symbol: IUSG), we found that the implied analyst target price for the ETF based upon its underlying holdings is $157.15 per unit.
With IUSG trading at a recent price near $141.73 per unit, that means that analysts see 10.88% upside for this ETF looking through to the average analyst targets of the underlying holdings. Three of IUSG's underlying holdings with notable upside to their analyst target prices are Light & Wonder Inc (Symbol: LNW), Cabot Corp. (Symbol: CBT), and Ormat Technologies Inc (Symbol: ORA). Although LNW has traded at a recent price of $90.12/share, the average analyst target is 17.90% higher at $106.25/share. Similarly, CBT has 12.46% upside from the recent share price of $74.69 if the average analyst target price of $84.00/share is reached, and analysts on average are expecting ORA to reach a target price of $83.10/share, which is 11.80% above the recent price of $74.33. Below is a twelve month price history chart comparing the stock performance of LNW, CBT, and ORA:
Below is a summary table of the current analyst target prices discussed above:
Name
Symbol
Recent Price
Avg. Analyst 12-Mo. Target
% Upside to Target
iShares Core S&P U.S. Growth ETF
IUSG
$141.73
$157.15
10.88%
Light & Wonder Inc
LNW
$90.12
$106.25
17.90%
Cabot Corp.
CBT
$74.69
$84.00
12.46%
Ormat Technologies Inc
ORA
$74.33
$83.10
11.80%
Are analysts justified in these targets, or overly optimistic about where these stocks will be trading 12 months from now? Do the analysts have a valid justification for their targets, or are they behind the curve on recent company and industry developments? A high price target relative to a stock's trading price can reflect optimism about the future, but can also be a precursor to target price downgrades if the targets were a relic of the past. These are questions that require further investor research.
10 ETFs With Most Upside To Analyst Targets »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

We Did The Math IUSG Can Go To $157

Light & Wonder (LNW) came out with quarterly earnings of $1.35 per share, beating the Zacks Consensus Estimate of $1.17 per share. This compares to earnings of $0.93 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 15.38%. A quarter ago, it was expected that this instant-win lottery ticket maker would post earnings of $1.08 per share when it actually produced earnings of $1.42, delivering a surprise of 31.48%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Light & Wonder, which belongs to the Zacks Gaming industry, posted revenues of $774 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 4.28%. This compares to year-ago revenues of $756 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Light & Wonder shares have added about 8.7% since the beginning of the year versus the S&P 500's decline of -4.7%.
What's Next for Light & Wonder?
While Light & Wonder has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Light & Wonder: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $1.50 on $863.51 million in revenues for the coming quarter and $5.72 on $3.45 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the bottom 44% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Melco Resorts (MLCO), another stock in the same industry, has yet to report results for the quarter ended March 2025. The results are expected to be released on May 8.
This casino company is expected to post quarterly loss of $0.01 per share in its upcoming report, which represents a year-over-year change of -125%. The consensus EPS estimate for the quarter has been revised 80% lower over the last 30 days to the current level.
Melco Resorts' revenues are expected to be $1.22 billion, up 9.9% from the year-ago quarter.
Should You Invest in Light & Wonder, Inc. (LNW)?
Before you invest in Light & Wonder, Inc. (LNW), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
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Light & Wonder, Inc. (LNW) : Free Stock Analysis Report
Melco Resorts & Entertainment Limited (MLCO) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Light & Wonder (LNW) Q1 Earnings Beat Estimates

Monolithic Power Systems, Inc. MPWR reported healthy first-quarter 2025 results, with both adjusted earnings and revenues surpassing the Zacks Consensus Estimate.
The Kirkland, WA-based company witnessed healthy revenue growth year over year, backed by solid momentum in the Automotive, Storage and Computing and Communication verticals. A strong focus on innovation has enabled it to address customers' most complex challenges while maintaining the highest standards of quality. Continued investment in new technologies, expansion into emerging markets and diversification of end-market applications and the global supply chain are expected to support Monolithic Power’s future growth, enhance supply stability and enable swift adaptation to changing market conditions.
Net Income
Net income, on a GAAP basis, was $133.8 million or $2.79 per share compared with $92.5 million or $1.89 per share in the year-ago quarter. The increase in GAAP earnings was primarily attributable to top-line growth.
Non-GAAP net income improved to $193.8 million or $4.04 per share from $137.5 million or $2.81 per share in the prior-year quarter. The bottom line surpassed the Zacks Consensus Estimate by 4 cents. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
Monolithic Power Systems, Inc. Price, Consensus and EPS Surprise
Monolithic Power Systems, Inc. price-consensus-eps-surprise-chart | Monolithic Power Systems, Inc. Quote
Revenues
Monolithic Power generated revenues of $637.6 million, up from $457.9 million in the year-ago quarter. The 39.2% growth reflected the ongoing strength of the company’s diversified market strategy, consistent execution, continued innovation and strong customer focus. The top line beat the Zacks Consensus Estimate of $635 million.
By end markets, Storage and Computing revenues were $188.5 million, up 77.7% year over year. Growth was primarily driven by strong demand for both memory and notebook solutions. Revenues exceeded the Zacks Consensus Estimate of $177.57 million.
Net sales from Enterprise Data declined to $132.9 million from $149.7 million in the year-ago quarter. However, revenues surpassed the Zacks Consensus Estimate of $131.33 million.
In the first quarter, the Automotive end market contributed $144.9 million in revenues compared with $87.1 million in the year-ago quarter. The top line missed the Zacks Consensus Estimate of $148.34 million.
Industrial revenues were $42.6 million compared with $30.2 million in the year-ago quarter. The top line slightly beat the Zacks Consensus Estimate of $42.16 million.
The Communications end market registered $71.7 million in revenues compared with $46.7 million in the year-ago quarter. Revenues fell short of the Zacks Consensus Estimate of $73.27 million.
Net sales from the Consumer end market improved to $56.9 million from $38.1 million in the year-ago quarter. Lower gaming revenues impacted the top line. Net sales missed the Zacks Consensus Estimate of $58.92 million.
Other Details
Non-GAAP gross margin remained unchanged at 55.7% . Non-GAAP operating expenses were $133.5 million compared with $103.4 million reported in the prior-year period. Non-GAAP operating income was $221.5 million, up from $151.6 million in the year-earlier quarter.
Cash Flow & Liquidity
During the March quarter, the company generated an operating cash flow of $256.4 million compared with $248 million in the prior-year quarter. As of March 31, 2025, cash and cash equivalents totaled $637.4 million, with $105.8 million in other long-term liabilities.
Outlook
For the second quarter of 2025, the company estimates revenues in the range of $640-$660 million. Non-GAAP gross margin is expected to be between 55.2% and 55.8%, while GAAP gross margin is anticipated to be in the band of 54.9%-55.5%. GAAP operating expenses are projected between $189.0 million and $195.0 million. Non-GAAP operating expenses are projected to be between $132.6 million and $136.6 million.
MPWR’s Zacks Rank
Monolithic currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Upcoming Releases
Altice USA, Inc. ATUS is scheduled to release first-quarter 2025 earnings on May 8. The Zacks Consensus Estimate for earnings is pegged at a loss of 9 cents per share, indicating a decline of 80% from the year-ago figure.
Bandwidth Inc. BAND is scheduled to release first-quarter 2025 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at 29 cents per share, indicating an improvement of 7.41% from the year-ago figure.
Light and Wonder LNW is scheduled to release first-quarter 2025 earnings on May 7. The Zacks Consensus Estimate for earnings is pegged at $1.17 per share, indicating an improvement of 25.81% from the year-ago figure.
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Monolithic Power Systems, Inc. (MPWR) : Free Stock Analysis Report
Altice USA, Inc. (ATUS) : Free Stock Analysis Report
Bandwidth Inc. (BAND) : Free Stock Analysis Report
Light & Wonder, Inc. (LNW) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Monolithic Power's Q1 Earnings Beat Estimates, Revenues Rise Y/Y

The NASDAQ 100 After Hours Indicator is up 13.65 to 19,446.21. The total After hours volume is currently 107,054,554 shares traded.
The following are the most active stocks for the after hours session:
NVIDIA Corporation (NVDA) is -0.12 at $110.89, with 5,366,088 shares traded. As reported by Zacks, the current mean recommendation for NVDA is in the "buy range".
Chipotle Mexican Grill, Inc. (CMG) is +0.07 at $51.85, with 2,461,969 shares traded. As reported by Zacks, the current mean recommendation for CMG is in the "buy range".
Microsoft Corporation (MSFT) is +0.2999 at $392.15, with 2,429,109 shares traded.MSFT is scheduled to provide an earnings report on 4/30/2025, for the fiscal quarter ending Mar2025. The consensus earnings per share forecast is 3.2 per share, which represents a 294 percent increase over the EPS one Year Ago
Iovance Biotherapeutics, Inc. (IOVA) is +0.03 at $3.54, with 2,343,555 shares traded. As reported by Zacks, the current mean recommendation for IOVA is in the "buy range".
Exxon Mobil Corporation (XOM) is +0.0725 at $108.64, with 2,134,580 shares traded. Over the last four weeks they have had 3 up revisions for the earnings forecast, for the fiscal quarter ending Mar 2025. The consensus EPS forecast is $1.72. XOM is scheduled to provide an earnings report on 5/2/2025, for the fiscal quarter ending Mar2025. The consensus earnings per share forecast is 1.72 per share, which represents a 206 percent increase over the EPS one Year Ago
Light & Wonder, Inc. (LNW) is unchanged at $84.39, with 2,073,172 shares traded. As reported by Zacks, the current mean recommendation for LNW is in the "buy range".
Comcast Corporation (CMCSA) is +0.06 at $33.96, with 1,902,839 shares traded. CMCSA's current last sale is 78.98% of the target price of $43.
Nu Holdings Ltd. (NU) is +0.01 at $12.02, with 1,839,833 shares traded. NU's current last sale is 80.13% of the target price of $15.
Tesla, Inc. (TSLA) is +0.13 at $285.08, with 1,799,334 shares traded. TSLA's current last sale is 95.03% of the target price of $300.
MP Materials Corp. (MP) is +0.09 at $24.50, with 1,515,961 shares traded. As reported by Zacks, the current mean recommendation for MP is in the "buy range".
Pfizer, Inc. (PFE) is unchanged at $22.92, with 1,433,440 shares traded.PFE is scheduled to provide an earnings report on 4/29/2025, for the fiscal quarter ending Mar2025. The consensus earnings per share forecast is 0.64 per share, which represents a 82 percent increase over the EPS one Year Ago
NextEra Energy, Inc. (NEE) is unchanged at $66.09, with 1,284,646 shares traded. As reported by Zacks, the current mean recommendation for NEE is in the "buy range".
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

After Hours Most Active for Apr 25, 2025 : NVDA, CMG, MSFT, IOVA, XOM, LNW, CMCSA, NU, TSLA, MP, PFE, NEE

Churchill Downs (CHDN) came out with quarterly earnings of $1.07 per share, missing the Zacks Consensus Estimate of $1.08 per share. This compares to earnings of $1.13 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -0.93%. A quarter ago, it was expected that this racetrack operator and gambling company would post earnings of $0.93 per share when it actually produced earnings of $0.92, delivering a surprise of -1.08%.
Over the last four quarters, the company has surpassed consensus EPS estimates two times.
Churchill Downs, which belongs to the Zacks Gaming industry, posted revenues of $642.6 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 0.68%. This compares to year-ago revenues of $590.9 million. The company has topped consensus revenue estimates two times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Churchill Downs shares have lost about 22.9% since the beginning of the year versus the S&P 500's decline of -10.1%.
What's Next for Churchill Downs?
While Churchill Downs has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Churchill Downs: unfavorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #4 (Sell) for the stock. So, the shares are expected to underperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $3.24 on $942.99 million in revenues for the coming quarter and $6.58 on $2.94 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Gaming is currently in the bottom 42% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Light & Wonder (LNW), is yet to report results for the quarter ended March 2025. The results are expected to be released on May 7.
This instant-win lottery ticket maker is expected to post quarterly earnings of $1.17 per share in its upcoming report, which represents a year-over-year change of +25.8%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Light & Wonder's revenues are expected to be $808.58 million, up 7% from the year-ago quarter.
Should You Invest in Churchill Downs, Incorporated (CHDN)?
Before you invest in Churchill Downs, Incorporated (CHDN), want to know the best stocks to buy for the next 30 days? Check out Zacks Investment Research for our free report on the 7 best stocks to buy.
Zacks Investment Research has been committed to providing investors with tools and independent research since 1978. For more than a quarter century, the Zacks Rank stock-rating system has more than doubled the S&P 500 with an average gain of +24.08% per year. (These returns cover a period from January 1, 1988 through May 6, 2024.)
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Churchill Downs, Incorporated (CHDN) : Free Stock Analysis Report
Light & Wonder, Inc. (LNW) : Free Stock Analysis Report
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Churchill Downs (CHDN) Misses Q1 Earnings and Revenue Estimates

The following are the top rated Consumer Discretionary stocks according to Validea's Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields.
BOYD GAMING CORP (BYD) is a mid-cap value stock in the Casinos & Gaming industry. The rating according to our strategy based on Joel Greenblatt is 60% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Boyd Gaming Corporation is a gaming company. It operates over 28 gaming entertainment properties in 10 states, manager of a tribal casino in northern California, and owner and operator of Boyd Interactive, a B2B and B2C online casino gaming business. Its segments include Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online. The Las Vegas Locals segment consists of eight casinos in the Las Vegas metropolitan area. The Downtown Las Vegas segment consists of three properties: California Hotel and Casino, Fremont Hotel & Casino, and Main Street Station Hotel and Casino. Its Midwest & South properties consist of five land-based casinos, five dockside riverboat casinos, three racinos and four barge-based casinos that operate in nine states, predominantly in the Midwest and southern United States. The Online segment includes its online gaming operations through collaborative arrangements with third parties throughout the United States and the operations of Boyd Interactive.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of BOYD GAMING CORP
BYD Guru Analysis
BYD Fundamental Analysis
LIGHT & WONDER INC (LNW) is a mid-cap growth stock in the Personal & Household Prods. industry. The rating according to our strategy based on Joel Greenblatt is 60% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Company Description: Light & Wonder, Inc. is a cross-platform global games company with a focus on content and digital markets. The Company's segments include Gaming, SciPlay and iGaming. The Gaming segment designs, develops, manufactures, markets and distributes a comprehensive portfolio of gaming content, products and services. The Company provides its gaming portfolio of products and services to commercial casinos, Native American casinos, wide-area gaming operators such as licensed betting offices (LBOs), arcade and bingo operators in the United Kingdom and continental Europe, and government agencies and their affiliated operators. The SciPlay segment is a developer and publisher of digital games on mobile and Web platforms. The SciPlay segment operates primarily in the social gaming market and hyper-casual space. The iGaming segment provides a comprehensive suite of digital gaming content, distribution platforms, player account management systems, as well as various other iGaming content and services.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
EARNINGS YIELD:
NEUTRAL
RETURN ON TANGIBLE CAPITAL:
NEUTRAL
FINAL RANKING:
FAIL
Detailed Analysis of LIGHT & WONDER INC
LNW Guru Analysis
LNW Fundamental Analysis
Joel Greenblatt Portfolio
Top Joel Greenblatt Stocks
About Joel Greenblatt: In his 2005 bestseller The Little Book That Beats The Market, hedge fund manager Joel Greenblatt laid out a stunningly simple way to beat the market using two -- and only two -- fundamental variables. The "Magic Formula," as he called it, produced back-tested returns of 30.8 percent per year from 1988 through 2004, more than doubling the S&P 500's 12.4 percent return during that time. Greenblatt also produced exceptional returns as managing partner at Gotham Capital, a New York City-based hedge fund he founded. The firm averaged a remarkable 40 percent annualized return over more than two decades.
About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Validea's Top Consumer Discretionary Stocks Based On Joel Greenblatt - 4/22/2025

Below is Validea's guru fundamental report for LIGHT & WONDER INC (LNW). Of the 22 guru strategies we follow, LNW rates highest using our P/B Growth Investor model based on the published strategy of Partha Mohanram. This growth model looks for low book-to-market stocks that exhibit characteristics associated with sustained future growth.
LIGHT & WONDER INC (LNW) is a mid-cap growth stock in the Personal & Household Prods. industry. The rating using this strategy is 66% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
The following table summarizes whether the stock meets each of this strategy's tests. Not all criteria in the below table receive equal weighting or are independent, but the table provides a brief overview of the strong and weak points of the security in the context of the strategy's criteria.
BOOK/MARKET RATIO:
PASS
RETURN ON ASSETS:
PASS
CASH FLOW FROM OPERATIONS TO ASSETS:
PASS
CASH FLOW FROM OPERATIONS TO ASSETS VS. RETURN ON ASSETS:
PASS
RETURN ON ASSETS VARIANCE:
FAIL
SALES VARIANCE:
FAIL
ADVERTISING TO ASSETS:
FAIL
CAPITAL EXPENDITURES TO ASSETS:
PASS
RESEARCH AND DEVELOPMENT TO ASSETS:
PASS
Detailed Analysis of LIGHT & WONDER INC
LNW Guru Analysis
LNW Fundamental Analysis
More Information on Partha Mohanram
Partha Mohanram Portfolio
About Partha Mohanram: Sometimes the best investing strategies don't come from the world of investing. Sometimes research that changes the investing world can come from the halls of academia. Partha Mohanram is a great example of this. While academic research has shown that value investing works over time, it has found the opposite for growth investing. Mohanram turned that research on its head by developing a growth model that produced significant market outperformance. His research paper "Separating Winners from Losers among Low Book-to-Market Stocks using Financial Statement Analysis" looked at the criteria that can be used to separate growth stocks that continue their upward trajectory from those that don't. Mohanram is currently the John H. Watson Chair in Value Investing at the University of Toronto and was previously an Associate Professor at the Columbia Business School.
Additional Research Links
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Harry Browne Permanent Portfolio
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About Validea: Validea is aninvestment researchservice that follows the published strategies of investment legends. Validea offers both stock analysis and model portfolios based on gurus who have outperformed the market over the long-term, including Warren Buffett, Benjamin Graham, Peter Lynch and Martin Zweig. For more information about Validea, click here
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Indicator	TTM Median
P/E	31.08 18.21
Price/Sales	3.07 0.65
P/B	11.65 1.75
P/FCF	23.87 14.40

Indicator	TTM Median
ROE	34.65 15.91
ROA	5.42 5.60
ROI	6.46 9.40
Net Worth	9.43 0.88
Quick Ratio	1.59 0.91
Current Ratio	1.85 1.44

Indicator	TTM Median
Net Profit Margin	9.95 6.42
Operating Margin	20.91 8.93
Gross Margin	70.50 38.46
Return on tangible equity	-10.99 23.67

Indicator	TTM Median
EPS	1.34 0.44
EPS Forecast	1.16 0.42
Revenue	818.00M 182.00M
Gross Profit	582.00M —
EBITDA	175.00M —

Light & Wonder, Inc.

Fundamental LNW

Valuation

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Revenue