Equities research analysts forecast that Activision Blizzard, Inc. (NASDAQ:ATVI) will report $2.68 billion in sales for the current quarter, according to Zacks. Nine analysts have issued estimates for Activision Blizzard’s earnings, with the lowest sales estimate coming in at $2.65 billion and the highest estimate coming in at $2.75 billion. Activision Blizzard posted sales of $2.84 billion in the same quarter last year, which would indicate a negative year over year growth rate of 5.6%. The company is expected to announce its next quarterly earnings results on Tuesday, February 11th.
According to Zacks, analysts expect that Activision Blizzard will report full-year sales of $6.36 billion for the current fiscal year, with estimates ranging from $6.33 billion to $6.43 billion. For the next fiscal year, analysts anticipate that the business will post sales of $6.87 billion, with estimates ranging from $6.60 billion to $7.11 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) last released its earnings results on Thursday, November 7th. The company reported $0.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. The business’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.52 EPS.
A number of research firms have issued reports on ATVI. SunTrust Banks increased their target price on shares of Activision Blizzard from $59.00 to $61.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Piper Jaffray Companies set a $62.00 price target on shares of Activision Blizzard and gave the company a “buy” rating in a report on Friday, October 25th. BMO Capital Markets upped their price target on shares of Activision Blizzard from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Macquarie set a $58.00 price objective on Activision Blizzard and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Citigroup lifted their price objective on Activision Blizzard from $47.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, October 15th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Activision Blizzard has an average rating of “Buy” and an average target price of $60.16.
NASDAQ ATVI opened at $59.13 on Friday. The company has a 50 day simple moving average of $55.10 and a 200-day simple moving average of $51.16. Activision Blizzard has a 52-week low of $39.85 and a 52-week high of $59.34. The firm has a market capitalization of $45.06 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.57 and a beta of 0.84. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.43 and a quick ratio of 3.38.
In related news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $52.67, for a total transaction of $280,889.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through . Also, COO Collister Johnson sold 3,800 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $52.43, for a total transaction of $199,234.00. Following the completion of the transaction, the chief operating officer now owns 280,983 shares in the company, valued at $14,731,938.69. The disclosure for this sale can be found here. 1.31% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Activision Blizzard by 1.1% in the second quarter. Vanguard Group Inc. now owns 57,097,169 shares of the company’s stock worth $2,694,986,000 after purchasing an additional 599,719 shares during the period. BlackRock Inc. boosted its stake in Activision Blizzard by 3.4% during the 2nd quarter. BlackRock Inc. now owns 48,425,839 shares of the company’s stock valued at $2,285,699,000 after purchasing an additional 1,613,122 shares during the period. Invesco Ltd. boosted its stake in Activision Blizzard by 7.1% during the 2nd quarter. Invesco Ltd. now owns 19,334,866 shares of the company’s stock valued at $912,605,000 after purchasing an additional 1,289,300 shares during the period. Northern Trust Corp grew its holdings in Activision Blizzard by 2.9% in the 2nd quarter. Northern Trust Corp now owns 9,522,155 shares of the company’s stock valued at $449,447,000 after buying an additional 270,465 shares during the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in Activision Blizzard in the 2nd quarter valued at approximately $422,191,000. Hedge funds and other institutional investors own 88.56% of the company’s stock.
Activision Blizzard Company Profile
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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