King Digital Entertainment PLC Rating Lowered to Sector Perform at RBC Capital (KING)
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.
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