Analysts expect Activision Blizzard, Inc. (NASDAQ:ATVI) to report earnings per share of $0.37 for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Activision Blizzard’s earnings, with the highest EPS estimate coming in at $0.50 and the lowest estimate coming in at $0.31. Activision Blizzard reported earnings of $0.31 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 19.4%. The firm is scheduled to issue its next earnings results on Thursday, May 3rd.
On average, analysts expect that Activision Blizzard will report full-year earnings of $2.64 per share for the current fiscal year, with EPS estimates ranging from $2.50 to $2.90. For the next fiscal year, analysts forecast that the company will post earnings of $2.99 per share, with EPS estimates ranging from $2.74 to $3.34. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last issued its quarterly 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 business had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. Activision Blizzard’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company posted $0.65 earnings per share.
A number of analysts recently commented on ATVI shares. Vetr upgraded Activision Blizzard from a “sell” rating to a “hold” rating and set a $62.29 price target on the stock in a report on Wednesday, November 29th. Goldman Sachs upgraded Activision Blizzard from a “neutral” rating to a “buy” rating in a report on Tuesday, December 12th. BTIG Research started coverage on Activision Blizzard in a report on Monday, December 18th. They set a “buy” rating and a $80.00 price target on the stock. BidaskClub upgraded Activision Blizzard from a “hold” rating to a “buy” rating in a report on Tuesday, December 19th. Finally, Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Five investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $75.03.
Shares of Activision Blizzard stock traded down $1.71 during trading on Friday, reaching $68.05. The company had a trading volume of 5,386,416 shares, compared to its average volume of 6,821,746. The company has a market capitalization of $54,325.61, a price-to-earnings ratio of 189.03, a P/E/G ratio of 1.91 and a beta of 1.10. Activision Blizzard has a 1-year low of $48.41 and a 1-year high of $79.63. 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 other news, insider Dennis M. Durkin sold 21,488 shares of Activision Blizzard stock in a transaction on Monday, March 12th. The stock was sold at an average price of $77.18, for a total value of $1,658,443.84. Following the completion of the transaction, the insider now directly owns 151,314 shares in the company, valued at $11,678,414.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis M. Durkin sold 71,488 shares of Activision Blizzard stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $75.65, for a total value of $5,408,067.20. Following the completion of the transaction, the insider now owns 151,314 shares of the company’s stock, valued at $11,446,904.10. The disclosure for this sale can be found here. Insiders sold 2,701,258 shares of company stock valued at $191,727,094 over the last three months. Company insiders own 2.12% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in ATVI. SeaCrest Wealth Management LLC purchased a new position in shares of Activision Blizzard in the fourth quarter valued at $125,000. Goodman Financial Corp purchased a new position in shares of Activision Blizzard in the fourth quarter valued at $127,000. Grove Bank & Trust grew its position in shares of Activision Blizzard by 261.7% in the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after purchasing an additional 1,570 shares in the last quarter. James Hambro & Partners purchased a new position in shares of Activision Blizzard in the fourth quarter valued at $184,000. Finally, Exane Derivatives grew its position in shares of Activision Blizzard by 15,900.0% in the fourth quarter. Exane Derivatives now owns 3,040 shares of the company’s stock valued at $192,000 after purchasing an additional 3,021 shares in the last quarter. Institutional investors own 85.56% of the company’s stock.
About Activision Blizzard
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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