Brokerages expect Activision Blizzard, Inc. (NASDAQ:ATVI) to post earnings per share of $0.37 for the current quarter, Zacks Investment Research reports. Eight analysts have made estimates for Activision Blizzard’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.31. Activision Blizzard posted earnings per share of $0.31 during the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The company is scheduled to report its next earnings report on Thursday, May 3rd.
On average, analysts expect that Activision Blizzard will report full-year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.90. For the next fiscal year, analysts anticipate that the business will report earnings of $2.98 per share, with EPS estimates ranging from $2.74 to $3.34. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The firm had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.55 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis.
Several research analysts recently weighed in on the stock. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Vetr raised shares of Activision Blizzard from a “buy” rating to a “strong-buy” rating and set a $83.78 target price for the company in a research note on Thursday. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $86.00 target price for the company in a research note on Tuesday, March 13th. Citigroup reissued a “positive” rating and issued a $87.00 target price (up previously from $78.00) on shares of Activision Blizzard in a research note on Monday, March 12th. Finally, ValuEngine raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Five equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $75.03.
Activision Blizzard stock opened at $70.71 on Friday. Activision Blizzard has a one year low of $47.80 and a one year high of $79.63. The firm has a market cap of $54,378.72, a PE ratio of 199.11, a P/E/G ratio of 1.91 and a beta of 1.10. The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 0.46.
In related news, insider Dennis M. Durkin sold 71,488 shares of the stock in a transaction that occurred on Wednesday, March 14th. The shares were sold at an average price of $75.65, for a total transaction of $5,408,067.20. Following the completion of the sale, the insider now owns 151,314 shares of the company’s stock, valued at approximately $11,446,904.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis M. Durkin sold 21,488 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $77.18, for a total transaction of $1,658,443.84. Following the sale, the insider now directly owns 151,314 shares of the company’s stock, valued at approximately $11,678,414.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,701,258 shares of company stock valued at $191,727,094. Corporate insiders own 2.12% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. ADAMCAPITAL Gestao de Recursos Ltda. purchased a new position in Activision Blizzard in the 4th quarter worth approximately $85,023,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Activision Blizzard by 80.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 108,861 shares of the company’s stock worth $6,893,000 after acquiring an additional 48,667 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in Activision Blizzard by 6.2% in the 4th quarter. Xact Kapitalforvaltning AB now owns 147,493 shares of the company’s stock worth $9,339,000 after acquiring an additional 8,597 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Activision Blizzard by 16.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 77,408 shares of the company’s stock worth $4,902,000 after acquiring an additional 11,153 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Activision Blizzard by 6.8% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 446,565 shares of the company’s stock worth $28,276,000 after acquiring an additional 28,480 shares during the period. Hedge funds and other institutional investors own 85.56% of the company’s stock.
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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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