Equities analysts expect Activision Blizzard, Inc. (NASDAQ:ATVI) to post $1.33 billion in sales for the current quarter, Zacks reports. Seven analysts have issued estimates for Activision Blizzard’s earnings, with the lowest sales estimate coming in at $1.28 billion and the highest estimate coming in at $1.40 billion. Activision Blizzard posted sales of $1.20 billion during the same quarter last year, which would indicate a positive year over year growth rate of 10.8%. The company is expected to announce its next quarterly earnings results on Thursday, May 3rd.
According to Zacks, analysts expect that Activision Blizzard will report full-year sales of $1.33 billion for the current year, with estimates ranging from $7.44 billion to $7.76 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $8.09 billion per share, with estimates ranging from $7.89 billion to $8.30 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The business had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same period last year, the business posted $0.65 earnings per share. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.
A number of analysts have issued reports on ATVI shares. Zacks Investment Research downgraded Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. BidaskClub lowered Activision Blizzard from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. SunTrust Banks set a $77.00 price target on Activision Blizzard and gave the stock a “buy” rating in a report on Wednesday, January 24th. Vetr lowered Activision Blizzard from a “hold” rating to a “sell” rating and set a $69.79 price target for the company. in a report on Monday, January 29th. Finally, TheStreet lowered Activision Blizzard from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Six research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $73.08.
A number of large investors have recently bought and sold shares of the stock. Macquarie Group Ltd. boosted its stake in Activision Blizzard by 0.4% during the second quarter. Macquarie Group Ltd. now owns 12,345 shares of the company’s stock valued at $711,000 after buying an additional 45 shares during the period. Checchi Capital Advisers LLC raised its position in Activision Blizzard by 13.6% during the fourth quarter. Checchi Capital Advisers LLC now owns 6,437 shares of the company’s stock valued at $408,000 after purchasing an additional 769 shares in the last quarter. CI Global Investments Inc. raised its position in Activision Blizzard by 1.1% during the fourth quarter. CI Global Investments Inc. now owns 69,123 shares of the company’s stock valued at $4,377,000 after purchasing an additional 780 shares in the last quarter. Jackson Wealth Management LLC raised its position in Activision Blizzard by 6.6% during the fourth quarter. Jackson Wealth Management LLC now owns 12,744 shares of the company’s stock valued at $844,000 after purchasing an additional 788 shares in the last quarter. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Activision Blizzard by 20.8% during the third quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,640 shares of the company’s stock valued at $299,000 after purchasing an additional 800 shares in the last quarter. 86.06% of the stock is owned by institutional investors.
Activision Blizzard (NASDAQ ATVI) traded down $1.80 during trading hours on Monday, reaching $70.19. The company’s stock had a trading volume of 6,382,932 shares, compared to its average volume of 7,000,000. The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 0.46. Activision Blizzard has a twelve month low of $44.60 and a twelve month high of $74.94. The stock has a market capitalization of $53,070.00, a P/E ratio of 200.54, a P/E/G ratio of 1.87 and a beta of 1.11.
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Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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