Third Quarter 2022 Earnings Forecast for Playtika Holding Corp. (NASDAQ:PLTK) published by Wedbush
Playtika Holding Corp. (NASDAQ:PLTK- Get a rating) – Wedbush Research analysts cut their third-quarter 2022 earnings estimates for Playtika in a note to investors Thursday, August 4. Wedbush analyst Pachter now expects the company to post earnings of $0.15 per share for the quarter, down from its previous estimate of $0.16. The consensus estimate for Playtika’s current annual earnings is $0.74 per share. Wedbush also released estimates for Playtika Q4 2022 earnings at $0.16 EPS, fiscal year 2022 earnings at $0.60 EPS, Q1 2023 earnings at $0.15 EPS, Q2 2023 earnings at $0.16 EPS, Q3 2023 earnings at $0.18 EPS, Q4 2023 earnings at $0.19 EPS, Q1 2024 earnings at $0.21 EPS, Q2 2024 earnings at $0.23 EPS and FY2024 earnings at $0.93 EPS.
A number of other stock analysts have also weighed in on PLTK recently. Morgan Stanley lowered its price target on Playtika from $23.00 to $21.00 and set an “overweight” rating for the company in a Monday, June 13 report. MKM Partners downgraded Playtika from a “buy” rating to a “neutral” rating and lowered its target price for the company from $17.00 to $13.50 in a report released Friday. Goldman Sachs Group downgraded Playtika from a “buy” rating to a “neutral” rating and lowered its target price for the company from $27.00 to $22.00 in a Tuesday, April 19 report. Citigroup lowered its price target on Playtika from $17.00 to $15.00 and set a “neutral” rating for the company in a Thursday, July 7 research note. Finally, Credit Suisse Group reduced its price target on Playtika from $30.00 to $24.00 in a Wednesday, May 11 research note. Three investment analysts gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.04.
Playtika shares down 2.7%
Shares of PLTK opened at $11.77 on Monday. Playtika has a 52 week minimum of $11.35 and a 52 week maximum of $30.00. The company has a market capitalization of $4.85 billion, a PE ratio of 15.91 and a beta of 0.20. The stock has a fifty-day simple moving average of $13.21 and a two-hundred-day simple moving average of $15.85.
Playtika (NASDAQ:PLTK – Get a rating) last released its results on Tuesday, May 10. The company reported EPS of $0.20 for the quarter, missing analyst consensus estimates of $0.22 per ($0.02). Playtika had a net margin of 11.54% and a negative return on equity of 80.59%. The company posted revenue of $679.60 million in the quarter, compared to $641.85 million expected by analysts. In the same quarter of the previous year, the company achieved EPS of $0.17. Playtika’s quarterly revenue increased 6.4% year over year.
Institutional entries and exits
A number of large investors have recently bought and sold shares of PLTK. The Illinois Municipal Retirement Fund increased its position in Playtika shares by 107.1% during the second quarter. The Illinois Municipal Retirement Fund now owns 36,398 shares of the company worth $482,000 after purchasing an additional 18,821 shares during the period. DekaBank Deutsche Girozentrale bought a new equity stake in Playtika during Q2 for $134,000. CX Institutional acquired a new stake in shares of Playtika in the second quarter worth $662,000. The North Carolina State Treasurer increased its position in Playtika stock by 94.6% in the second quarter. The North Carolina State Treasurer now owns 74,472 shares of the company worth $986,000 after purchasing an additional 36,203 shares during the period. Finally, the New York State Teachers Retirement System increased its holdings of Playtika stock by 13.6% during the second quarter. The New York State Teachers’ Retirement System now owns 9,200 shares of the company worth $122,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors hold 20.08% of the company’s shares.
Playtika Company Profile
Playtika Holding Corp. develops mobile games in the United States, Europe, the Middle East, Africa, Asia-Pacific and internationally. The company has a portfolio of casual and casino-themed games. It distributes its games to the end customer through various web and mobile platforms, such as Apple, Facebook, Google and other web and mobile platforms and its own proprietary platforms.
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