Activision Blizzard, Inc. (NASDAQ:ATVI) – Equities researchers at SunTrust Banks issued their Q1 2018 EPS estimates for Activision Blizzard in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst M. Thornton expects that the company will earn $0.30 per share for the quarter. SunTrust Banks has a “Buy” rating and a $77.00 price target on the stock.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, February 8th. The company reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.65 EPS.
A number of other equities analysts have also recently issued reports on the company. Vetr upgraded Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $80.56 price objective for the company in a report on Thursday. Jefferies Group boosted their price objective on Activision Blizzard from $80.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 3rd. TheStreet cut Activision Blizzard from a “b” rating to a “c+” rating in a report on Thursday, February 8th. Wedbush set a $81.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Barclays set a $70.00 price objective on Activision Blizzard and gave the company a “hold” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $73.25.
Activision Blizzard (ATVI) opened at $69.49 on Thursday. The company has a market capitalization of $53,093.31, a P/E ratio of 31.63, a PEG ratio of 1.87 and a beta of 1.11. 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 1-year low of $44.60 and a 1-year high of $74.94.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.99, for a total transaction of $1,402,833.39. Following the completion of the sale, the chief executive officer now directly owns 34,398 shares of the company’s stock, valued at approximately $2,441,914.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert J. Corti sold 88,000 shares of Activision Blizzard stock in a transaction on Friday, February 16th. The shares were sold at an average price of $69.88, for a total value of $6,149,440.00. Following the sale, the director now directly owns 129,562 shares of the company’s stock, valued at $9,053,792.56. The disclosure for this sale can be found here. Insiders own 2.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ATVI. Cornerstone Advisors Inc. raised its position in shares of Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after acquiring an additional 1,180 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Activision Blizzard in the 4th quarter worth $125,000. Goodman Financial Corp bought a new position in shares of Activision Blizzard in the 4th quarter worth $127,000. Grove Bank & Trust raised its position in shares of Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after acquiring an additional 1,570 shares in the last quarter. Finally, James Hambro & Partners bought a new position in shares of Activision Blizzard in the 4th quarter worth $184,000. 86.06% of the stock is owned by institutional investors and hedge funds.
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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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