Activision Blizzard (NASDAQ:ATVI) released its quarterly earnings data on Thursday. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03), Morningstar.com reports. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 16.39%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share.
Activision Blizzard stock opened at $55.01 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $49.63 billion, a price-to-earnings ratio of 26.83, a price-to-earnings-growth ratio of 1.73 and a beta of 1.11. Activision Blizzard has a 52 week low of $53.50 and a 52 week high of $84.68.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction on Monday, August 20th. The stock was 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 $1,396,258.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.29% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the business. Asset Advisors Investment Management LLC acquired a new position in Activision Blizzard in the third quarter worth $100,000. Ashburton Jersey Ltd acquired a new position in Activision Blizzard in the second quarter worth $107,000. Quad Cities Investment Group LLC acquired a new position in Activision Blizzard in the second quarter worth $114,000. NuWave Investment Management LLC acquired a new position in Activision Blizzard in the second quarter worth $121,000. Finally, Psagot Investment House Ltd. acquired a new position in Activision Blizzard in the third quarter worth $135,000. 86.92% of the stock is currently owned by institutional investors.
A number of analysts have recently issued reports on the company. BidaskClub upgraded Activision Blizzard from a “hold” rating to a “buy” rating in a research report on Saturday, September 29th. Wedbush boosted their price objective on Activision Blizzard from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Monday, October 1st. Argus restated a “buy” rating and set a $90.00 price objective (up from $81.00) on shares of Activision Blizzard in a research report on Friday, September 21st. Piper Jaffray Companies restated an “overweight” rating and set a $88.00 price objective on shares of Activision Blizzard in a research report on Wednesday, September 26th. Finally, Robert W. Baird boosted their price target on Activision Blizzard from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, September 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $77.62.
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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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