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

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

Playtika has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 0.8 %

PLTK opened at $7.89 on Thursday. Playtika has a 12-month low of $6.25 and a 12-month high of $10.28. The company has a market cap of $2.93 billion, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 0.97 and a beta of 0.85. The stock has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $7.61.

Playtika (NASDAQ:PLTK) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $627.00 million during the quarter, compared to analyst estimates of $640.27 million. Playtika had a negative return on equity of 127.12% and a net margin of 8.44%. Playtika’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS. On average, analysts predict that Playtika will post 0.73 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. UBS Group assumed coverage on Playtika in a research report on Monday, June 24th. They issued a “neutral” rating and a $8.50 target price for the company. Roth Mkm cut their target price 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. Morgan Stanley increased their price target on Playtika from $7.40 to $8.25 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. Macquarie cut Playtika from an “outperform” rating to a “neutral” rating and set a $9.00 target price on the stock. in a research report on Thursday, June 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $11.50 target price on shares of Playtika in a 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 given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.