Playtika Holding Corp. to Issue Quarterly Dividend of $0.10 (NASDAQ:PLTK)

Playtika Holding Corp. (NASDAQ:PLTK) declared a quarterly dividend on Thursday, May 9th, Zacks reports. Stockholders 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% meaning 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

Playtika stock traded down $0.33 during trading hours on Friday, reaching $8.54. 314,556 shares of the stock were exchanged, compared to its average volume of 960,228. The stock has a market cap of $3.17 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.15 and a beta of 0.79. Playtika has a 52-week low of $6.25 and a 52-week high of $12.90. The firm’s 50 day moving average is $7.15 and its 200 day moving average is $7.73.

Playtika (NASDAQ:PLTK) last released its earnings results 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). Playtika had a negative return on equity of 81.85% and a net margin of 9.15%. The business had revenue of $637.90 million for the quarter, compared to analyst estimates of $630.26 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. Equities research analysts expect that Playtika will post 0.69 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on PLTK shares. Wedbush lowered their price objective on shares of Playtika from $14.75 to $11.50 and set an “outperform” rating on the stock in a research note on Tuesday, February 27th. Morgan Stanley lowered their price target on Playtika from $10.00 to $7.50 and set an “equal weight” rating for the company in a report on Tuesday, February 27th. The Goldman Sachs Group lowered their price objective on shares of Playtika from $11.00 to $8.75 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. HSBC downgraded shares of Playtika from a “buy” rating to a “hold” rating and dropped their target price for the stock from $14.90 to $8.00 in a research report on Monday, January 22nd. Finally, Stifel Nicolaus lowered their price target on Playtika from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Playtika has a consensus rating of “Hold” and a consensus target price of $10.39.

Playtika Company Profile

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.