Playtech (LON:PTEC) Price Target Cut to GBX 550 by Analysts at Morgan Stanley

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Playtech (LON:PTEC) had its price target trimmed by Morgan Stanley from GBX 570 ($7.45) to GBX 550 ($7.19) in a research report sent to investors on Thursday, Digital Look reports. The firm currently has an equal weight rating on the stock.

PTEC has been the topic of a number of other reports. Shore Capital restated a buy rating on shares of Playtech in a report on Friday, August 23rd. Jefferies Financial Group assumed coverage on shares of Playtech in a report on Monday, June 10th. They issued a buy rating and a GBX 570 ($7.45) target price on the stock. Peel Hunt restated an add rating and issued a GBX 425 ($5.55) target price on shares of Playtech in a report on Thursday, August 22nd. JPMorgan Chase & Co. reduced their target price on shares of Playtech from GBX 603 ($7.88) to GBX 585 ($7.64) and set an overweight rating on the stock in a report on Wednesday, August 28th. Finally, Peel Hunt restated an add rating on shares of Playtech in a report on Monday, September 9th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of GBX 526.75 ($6.88).

LON:PTEC opened at GBX 433.90 ($5.67) on Thursday. The firm has a market cap of $1.34 billion and a price-to-earnings ratio of 4.61. The company has a current ratio of 1.28, a quick ratio of 1.24 and a debt-to-equity ratio of 98.60. The company’s 50-day moving average is GBX 405.98 and its two-hundred day moving average is GBX 418.10. Playtech has a 12-month low of GBX 352.90 ($4.61) and a 12-month high of GBX 510.40 ($6.67).

The business also recently disclosed a dividend, which will be paid on Tuesday, October 22nd. Stockholders of record on Thursday, September 19th will be issued a dividend of €0.06 ($0.07) per share. The ex-dividend date is Thursday, September 19th. This represents a dividend yield of 1.45%. Playtech’s payout ratio is currently 0.17%.

In related news, insider John Jackson acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average cost of GBX 409 ($5.34) per share, for a total transaction of £20,450 ($26,721.55).

About Playtech

Playtech Plc develops and sells software products for the online and land-based gambling industries worldwide. The company operates through Gaming B2B, Gaming B2C, and Financial segments. It operates an online trading platform to retail customers, which enable them to trade contracts for differences on various instruments, such as foreign exchange, commodities, equities, and indices; and provides B2B clearing and execution services for retail brokers and professional clients.

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Analyst Recommendations for Playtech (LON:PTEC)

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