Zacks: Analysts Anticipate Activision Blizzard, Inc. (NASDAQ:ATVI) Will Announce Earnings of $1.21 Per Share

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Equities analysts predict that Activision Blizzard, Inc. (NASDAQ:ATVI) will report earnings per share of $1.21 for the current quarter, according to Zacks. Nine analysts have made estimates for Activision Blizzard’s earnings. The highest EPS estimate is $1.29 and the lowest is $1.16. Activision Blizzard posted earnings of $1.29 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 6.2%. The business is expected to issue its next earnings results on Tuesday, February 11th.

According to Zacks, analysts expect that Activision Blizzard will report full-year earnings of $2.22 per share for the current financial year, with EPS estimates ranging from $2.17 to $2.30. For the next fiscal year, analysts anticipate that the company will post earnings of $2.54 per share, with EPS estimates ranging from $2.21 to $2.72. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.15 billion. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. The firm’s revenue was down 27.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.52 EPS.

Several analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $62.00 target price on shares of Activision Blizzard in a research report on Friday, November 8th. Sanford C. Bernstein downgraded shares of Activision Blizzard from a “market perform” rating to an “underperform” rating and raised their price target for the company from $41.00 to $43.00 in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of Activision Blizzard from $57.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, September 9th. BMO Capital Markets lifted their price objective on shares of Activision Blizzard from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, BidaskClub upgraded shares of Activision Blizzard from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $60.44.

In other news, COO Collister Johnson sold 3,800 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $52.43, for a total value of $199,234.00. Following the sale, the chief operating officer now owns 280,983 shares in the company, valued at $14,731,938.69. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total transaction of $280,889.11. The disclosure for this sale can be found here. Insiders own 1.31% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Bogart Wealth LLC increased its position in shares of Activision Blizzard by 21.2% during the second quarter. Bogart Wealth LLC now owns 6,202 shares of the company’s stock valued at $292,000 after purchasing an additional 1,084 shares during the period. NN Investment Partners Holdings N.V. boosted its position in shares of Activision Blizzard by 10.7% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 169,224 shares of the company’s stock valued at $7,987,000 after acquiring an additional 16,397 shares in the last quarter. Marathon Asset Management LLP boosted its position in shares of Activision Blizzard by 14.9% during the 2nd quarter. Marathon Asset Management LLP now owns 594,240 shares of the company’s stock valued at $28,048,000 after acquiring an additional 76,899 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Activision Blizzard by 1.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 81,220 shares of the company’s stock valued at $3,834,000 after acquiring an additional 1,198 shares during the period. Finally, Arbor Wealth Management LLC increased its stake in Activision Blizzard by 19.0% in the second quarter. Arbor Wealth Management LLC now owns 56,901 shares of the company’s stock valued at $2,686,000 after acquiring an additional 9,105 shares during the period. Hedge funds and other institutional investors own 88.56% of the company’s stock.

ATVI traded up $0.36 during midday trading on Tuesday, hitting $54.59. 5,399,552 shares of the company’s stock traded hands, compared to its average volume of 8,769,417. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.43 and a quick ratio of 3.38. The company has a market cap of $42.12 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 2.46 and a beta of 0.84. The stock’s fifty day simple moving average is $54.48 and its 200-day simple moving average is $50.12. Activision Blizzard has a one year low of $39.85 and a one year high of $57.52.

Activision Blizzard Company Profile

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. It 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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