Share on StockTwits

King Digital Entertainment PLC (NYSE:KING) was downgraded by stock analysts at RBC Capital from an “outperform” rating to a “sector perform” rating in a report issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $15.00 price target on the stock, down from their previous price target of $24.00. RBC Capital’s price target indicates a potential downside of 17.58% from the company’s current price.

Shares of King Digital Entertainment PLC (NYSE:KING) traded down 23.13% during mid-day trading on Wednesday, hitting $13.99. 17,647,356 shares of the company’s stock traded hands. King Digital Entertainment PLC has a one year low of $15.26 and a one year high of $23.48. The stock’s 50-day moving average is $19.51 and its 200-day moving average is $18.16. The company has a market cap of $4.444 billion and a price-to-earnings ratio of 9.08.

King Digital Entertainment PLC (NYSE:KING) last announced its earnings results on Tuesday, August 12th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.50 by $0.02. The company had revenue of $593.60 million for the quarter, compared to the consensus estimate of $455.50 million.

Other equities research analysts have also recently issued reports about the stock. Analysts at Pacific Crest downgraded shares of King Digital Entertainment PLC from an “outperform” rating to a “sector perform” rating in a research note on Monday. They now have a $18.71 price target on the stock. Separately, analysts at Zacks upgraded shares of King Digital Entertainment PLC from an “underperform” rating to a “neutral” rating in a research note on Tuesday, August 5th. They now have a $19.80 price target on the stock. Finally, analysts at Bank of America downgraded shares of King Digital Entertainment PLC from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 23rd. They now have a $22.00 price target on the stock, down previously from $23.00. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. King Digital Entertainment PLC presently has an average rating of “Hold” and an average price target of $19.54.

King Digital Entertainment plc is an interactive entertainment company. The Company’s games include Candy Crush Saga, Pet Rescue Saga, Farm Heroes Saga, Papa Pear Saga and Bubble Witch Saga.

The Fly On The Wall

Receive News & Ratings for King Digital Entertainment PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for King Digital Entertainment PLC and related companies with Analyst Ratings Network's FREE daily email newsletter.