Wall Street brokerages predict that Activision (NASDAQ:ATVI) will announce sales of $1.41 billion for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Activision’s earnings, with estimates ranging from $1.35 billion to $1.51 billion. Activision posted sales of $1.42 billion in the same quarter last year, which indicates a negative year over year growth rate of 0.7%. The business is scheduled to report its next quarterly earnings results on Thursday, August 2nd.
On average, analysts expect that Activision will report full-year sales of $7.55 billion for the current financial year, with estimates ranging from $7.50 billion to $7.70 billion. For the next fiscal year, analysts expect that the company will report sales of $8.02 billion per share, with estimates ranging from $7.90 billion to $8.20 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Activision.
Activision (NASDAQ:ATVI) last issued its quarterly earnings results on Thursday, May 3rd. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.05. Activision had a net margin of 4.78% and a return on equity of 17.91%. The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the prior year, the firm earned $0.56 EPS. The business’s revenue was up 15.0% on a year-over-year basis.
A number of analysts have weighed in on ATVI shares. Zacks Investment Research downgraded shares of Activision from a “hold” rating to a “sell” rating in a report on Thursday, April 12th. JPMorgan Chase & Co. started coverage on shares of Activision in a report on Tuesday, May 1st. They issued a “neutral” rating and a $70.00 price target for the company. Credit Suisse Group increased their price target on shares of Activision from $84.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, May 4th. Bank of America increased their price target on shares of Activision from $76.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, February 6th. Finally, Vetr raised shares of Activision from a “buy” rating to a “strong-buy” rating and set a $80.56 price target for the company in a report on Thursday, February 22nd. Seven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Activision has an average rating of “Buy” and a consensus price target of $75.41.
Shares of Activision opened at $70.80 on Friday, MarketBeat Ratings reports. The company has a quick ratio of 2.18, a current ratio of 2.19 and a debt-to-equity ratio of 0.45. Activision has a fifty-two week low of $55.41 and a fifty-two week high of $79.63. The firm has a market capitalization of $54.31 billion, a price-to-earnings ratio of 34.54, a P/E/G ratio of 1.93 and a beta of 1.17.
In related news, insider Stephen G. Wereb sold 120,521 shares of the stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $72.38, for a total transaction of $8,723,309.98. Following the completion of the sale, the insider now owns 48,511 shares in the company, valued at approximately $3,511,226.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $70.49, for a total transaction of $1,392,952.89. Following the sale, the chief executive officer now owns 27,361 shares of the company’s stock, valued at approximately $1,928,676.89. The disclosure for this sale can be found here. Insiders have sold a total of 233,258 shares of company stock valued at $17,182,774 in the last quarter. 2.12% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Activision by 5.8% during the 4th quarter. BlackRock Inc. now owns 54,967,203 shares of the company’s stock worth $3,480,525,000 after purchasing an additional 2,992,193 shares in the last quarter. Egerton Capital UK LLP increased its position in Activision by 22.0% in the 4th quarter. Egerton Capital UK LLP now owns 11,051,017 shares of the company’s stock valued at $699,750,000 after acquiring an additional 1,991,213 shares in the last quarter. Bank of New York Mellon Corp increased its position in Activision by 7.4% in the 4th quarter. Bank of New York Mellon Corp now owns 8,026,958 shares of the company’s stock valued at $508,266,000 after acquiring an additional 550,833 shares in the last quarter. Geode Capital Management LLC increased its position in Activision by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 7,790,249 shares of the company’s stock valued at $492,227,000 after acquiring an additional 252,340 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Activision by 3.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,762,476 shares of the company’s stock valued at $456,197,000 after acquiring an additional 212,792 shares in the last quarter. Institutional investors and hedge funds own 85.92% of the company’s stock.
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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