Light & Wonder (ASX:LNW) Momentum Rank : 0 (As of Jun. 06, 2024)

View and export this data going back to 2023. Start your Free Trial

What is Light & Wonder Momentum Rank?

Light & Wonder has the Momentum Rank of 0.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Light & Wonder Momentum Rank Related Terms

Thank you for viewing the detailed overview of Light & Wonder's Momentum Rank provided by GuruFocus.com. Please click on the following links to see related term pages.

Light & Wonder (ASX:LNW) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Light & Wonder Inc (ASX:LNW) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

LNW:USA TJW0:Germany

Address

6601 Bermuda Road, Las Vegas, NV, USA, 89119

Website

https://www.lnw.com

Light & Wonder is principally an electronic gaming machine manufacturer, selling machines to pubs, clubs, and casinos. The firm is licensed in most jurisdictions allowing gambling globally. Light & Wonder is one of the top three largest players in the space along with International Game Technology and Aristocrat Leisure. SciPlay, about a quarter of revenue, develops and distributes casual mobile games, principally in the social casino niche. The more nascent iGaming business sits between these two businesses, providing digital content and capabilities to real-money gaming providers.