Equities analysts predict that Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) will report sales of $1.54 billion for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Activision Blizzard’s earnings, with the lowest sales estimate coming in at $1.48 billion and the highest estimate coming in at $1.61 billion. Activision Blizzard posted sales of $1.92 billion in the same quarter last year, which suggests a negative year over year growth rate of 19.8%. The firm is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Activision Blizzard will report full-year sales of $7.77 billion for the current fiscal year, with estimates ranging from $7.20 billion to $8.40 billion. For the next year, analysts forecast that the business will post sales of $9.33 billion, with estimates ranging from $8.42 billion to $9.84 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI – Get Rating) last issued its quarterly earnings data on Monday, April 25th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.39). The firm had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.80 billion. Activision Blizzard had a return on equity of 12.70% and a net margin of 29.82%. The business’s revenue for the quarter was down 22.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 earnings per share.
ATVI has been the subject of a number of analyst reports. Zacks Investment Research raised Activision Blizzard from a “strong sell” rating to a “hold” rating and set a $84.00 price target for the company in a report on Tuesday, March 15th. Jefferies Financial Group reissued a “buy” rating and issued a $95.00 price target on shares of Activision Blizzard in a report on Wednesday, April 27th. Finally, StockNews.com initiated coverage on Activision Blizzard in a report on Thursday, March 31st. They issued a “hold” rating for the company. Nineteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.86.
In related news, CAO Jesse Yang sold 2,072 shares of the business’s stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $79.54, for a total value of $164,806.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Daniel Alegre sold 14,563 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $79.66, for a total value of $1,160,088.58. The disclosure for this sale can be found here. Insiders sold 27,447 shares of company stock valued at $2,175,584 in the last ninety days. Company insiders own 0.77% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ATVI. Capital International Investors lifted its stake in shares of Activision Blizzard by 57.2% in the fourth quarter. Capital International Investors now owns 39,139,403 shares of the company’s stock worth $2,604,167,000 after acquiring an additional 14,244,622 shares in the last quarter. Bank of Nova Scotia lifted its stake in shares of Activision Blizzard by 1,509.2% in the first quarter. Bank of Nova Scotia now owns 12,149,494 shares of the company’s stock worth $973,295,000 after acquiring an additional 11,394,496 shares in the last quarter. Norges Bank acquired a new stake in Activision Blizzard during the fourth quarter valued at approximately $507,115,000. Capital World Investors raised its stake in Activision Blizzard by 23.8% during the fourth quarter. Capital World Investors now owns 31,818,816 shares of the company’s stock valued at $2,116,906,000 after buying an additional 6,120,230 shares in the last quarter. Finally, Quinn Opportunity Partners LLC raised its stake in Activision Blizzard by 3,689.9% during the first quarter. Quinn Opportunity Partners LLC now owns 4,377,280 shares of the company’s stock valued at $350,664,000 after buying an additional 4,261,780 shares in the last quarter. Institutional investors and hedge funds own 83.11% of the company’s stock.
Shares of ATVI stock opened at $77.89 on Monday. The stock has a fifty day moving average price of $78.48 and a 200 day moving average price of $74.33. The stock has a market cap of $60.90 billion, a PE ratio of 24.65, a P/E/G ratio of 2.16 and a beta of 0.55. Activision Blizzard has a 1 year low of $56.40 and a 1 year high of $99.46. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.45 and a current ratio of 5.45.
Activision Blizzard Company Profile (Get Rating)
Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.
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