King Digital Entertainment PLC Cut to Underperform at Zacks (KING)
King Digital Entertainment PLC (NYSE:KING) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report issued on Wednesday. They currently have a $12.70 price target on the stock. Zacks‘s price objective would indicate a potential downside of 5.29% from the stock’s previous close.
King Digital Entertainment PLC (NYSE:KING) traded down 1.42% during mid-day trading on Wednesday, hitting $13.22. 807,448 shares of the company’s stock traded hands. King Digital Entertainment PLC has a 52-week low of $12.90 and a 52-week high of $23.48. The stock has a 50-day moving average of $17.06 and a 200-day moving average of $17.59. The company has a market cap of $4.227 billion and a P/E ratio of 6.28.
King Digital Entertainment PLC (NYSE:KING) last issued its quarterly earnings data 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. Analysts expect that King Digital Entertainment PLC will post $2.13 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on KING. Analysts at Stifel Nicolaus reiterated a “buy” rating on shares of King Digital Entertainment PLC in a research note on Thursday, August 14th. They now have a $19.00 price target on the stock, down previously from $23.00. Separately, analysts at Credit Suisse reiterated an “outperform” rating on shares of King Digital Entertainment PLC in a research note on Wednesday, August 13th. They now have a $17.00 price target on the stock, down previously from $500.00. Finally, analysts at Bank of America reiterated a “neutral” rating on shares of King Digital Entertainment PLC in a research note on Wednesday, August 13th. They now have a $19.00 price target on the stock, down previously from $22.00. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.82.
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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