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

Playtika Holding Corp. (NASDAQ:PLTK) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Stockholders of record on Friday, September 20th will be paid a dividend of 0.10 per share on Friday, October 4th. This represents a $0.40 annualized dividend and a dividend yield of 5.07%. The ex-dividend date is Friday, September 20th.

Playtika has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. 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 PLTK stock opened at $7.89 on Thursday. Playtika has a 52-week low of $6.25 and a 52-week high of $10.28. The company has a 50-day simple moving average of $7.45 and a two-hundred day simple moving average of $7.61. The company has a market capitalization of $2.93 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 0.97 and a beta of 0.85.

Playtika (NASDAQ:PLTK) last released its earnings results on Wednesday, August 7th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The company had revenue of $627.00 million for the quarter, compared to analysts’ expectations of $640.27 million. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.21 EPS. On average, sell-side analysts forecast that Playtika will post 0.73 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PLTK. Macquarie cut Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Thursday, June 13th. Roth Mkm reduced their price target on shares of Playtika from $9.00 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. UBS Group initiated coverage on Playtika in a research note on Monday, June 24th. They issued a “neutral” rating and a $8.50 target price on the stock. Morgan Stanley lifted their price target on Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a research report on Tuesday, July 23rd. Finally, Wedbush restated an “outperform” rating and issued a $11.50 price objective on shares of Playtika in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Playtika has a consensus rating of “Hold” and a consensus price target of $9.29.

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.