Activision Blizzard (NASDAQ:ATVI) has been given a $85.00 price objective by SunTrust Banks in a report released on Wednesday, The Fly reports. The brokerage presently has a “buy” rating on the stock. SunTrust Banks’ price objective indicates a potential upside of 21.43% from the stock’s current price. SunTrust Banks also issued estimates for Activision Blizzard’s Q3 2018 earnings at $0.45 EPS.
ATVI has been the topic of several other research reports. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Wednesday, July 4th. Morgan Stanley increased their target price on shares of Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, July 11th. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Piper Jaffray Companies increased their target price on shares of Activision Blizzard to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Finally, Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the company a “buy” rating in a research note on Thursday, July 26th. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Activision Blizzard has an average rating of “Buy” and an average price target of $82.16.
Activision Blizzard stock traded down $1.81 during mid-day trading on Wednesday, reaching $70.00. 312,900 shares of the company’s stock traded hands, compared to its average volume of 7,042,055. The company has a market cap of $59.70 billion, a price-to-earnings ratio of 35.38, a PEG ratio of 2.09 and a beta of 0.86. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42. Activision Blizzard has a 12-month low of $57.29 and a 12-month high of $84.68.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.11. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. Activision Blizzard’s revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 earnings per share. On average, equities research analysts anticipate that Activision Blizzard will post 2.49 earnings per share for the current fiscal year.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the transaction, the chief executive officer now owns 20,324 shares of the company’s stock, valued at approximately $1,396,258.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.29% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Ashburton Jersey Ltd bought a new position in Activision Blizzard during the 2nd quarter worth about $107,000. Quad Cities Investment Group LLC bought a new position in Activision Blizzard during the 2nd quarter worth about $114,000. NuWave Investment Management LLC bought a new position in Activision Blizzard during the 2nd quarter worth about $121,000. Kaizen Advisory LLC grew its holdings in Activision Blizzard by 155.2% during the 2nd quarter. Kaizen Advisory LLC now owns 1,876 shares of the company’s stock worth $143,000 after acquiring an additional 1,141 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Activision Blizzard during the 2nd quarter worth about $156,000. 87.14% of the stock is currently owned by institutional investors.
About Activision Blizzard
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. The company 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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