Playtika Holding Corp. (NASDAQ:PLTK) Announces $0.10 Quarterly Dividend

Playtika Holding Corp. (NASDAQ:PLTK) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Investors of record on Friday, June 21st will be given a dividend of 0.10 per share on Friday, July 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date is Friday, June 21st.

Playtika has a dividend payout ratio of 56.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Playtika to earn $0.72 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 55.6%.

Playtika Stock Performance

Shares of NASDAQ PLTK traded down $0.33 during trading on Friday, reaching $8.54. The company had a trading volume of 314,556 shares, compared to its average volume of 960,228. Playtika has a 52 week low of $6.25 and a 52 week high of $12.90. The business’s 50 day moving average price is $7.15 and its 200-day moving average price is $7.73. The stock has a market cap of $3.17 billion, a PE ratio of 13.86, a PEG ratio of 1.15 and a beta of 0.79.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.07). The firm had revenue of $637.90 million for the quarter, compared to analyst estimates of $630.26 million. Playtika had a negative return on equity of 81.85% and a net margin of 9.15%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS. Equities analysts anticipate that Playtika will post 0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PLTK shares. Morgan Stanley reduced their target price on shares of Playtika from $10.00 to $7.50 and set an “equal weight” rating on the stock in a research note on Tuesday, February 27th. The Goldman Sachs Group cut their price target on Playtika from $11.00 to $8.75 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Robert W. Baird raised their price target on Playtika from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Friday. HSBC downgraded Playtika from a “buy” rating to a “hold” rating and dropped their price objective for the company from $14.90 to $8.00 in a report on Monday, January 22nd. Finally, Bank of America lowered Playtika from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $11.00 to $8.00 in a research report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Playtika presently has a consensus rating of “Hold” and a consensus price target of $10.39.

About Playtika

Playtika Holding Corp., together with its subsidiaries, develops mobile games in the United States, Europe, Middle East, Africa, Asia pacific, and internationally. The company owns a portfolio of casual and social casino-themed games. It distributes its games to the end customer through various web and mobile platforms and direct-to-consumer platforms.