Wall Street analysts expect that Activision Blizzard, Inc. (NASDAQ:ATVI) will post sales of $1.67 billion for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Activision Blizzard’s earnings, with estimates ranging from $1.62 billion to $1.74 billion. Activision Blizzard posted sales of $1.90 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 12.1%. The business is expected to announce its next earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Activision Blizzard will report full year sales of $7.53 billion for the current financial year, with estimates ranging from $7.48 billion to $7.62 billion. For the next financial year, analysts forecast that the company will post sales of $8.06 billion per share, with estimates ranging from $7.82 billion to $8.46 billion. Zacks’ sales averages are an average based on a survey of research firms that follow Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, August 2nd. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.30 by $0.11. The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.38 billion. Activision Blizzard had a net margin of 6.96% and a return on equity of 18.00%. Activision Blizzard’s revenue was down 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS.
Several brokerages recently commented on ATVI. Wedbush set a $81.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a report on Thursday, July 26th. Piper Jaffray Companies lifted their target price on shares of Activision Blizzard to $84.00 and gave the stock an “overweight” rating in a report on Wednesday, July 25th. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. KeyCorp lifted their target price on shares of Activision Blizzard from $83.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, June 18th. Finally, Morgan Stanley lifted their target price on shares of Activision Blizzard from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Wednesday, July 11th. Eight research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $78.51.
Shares of ATVI stock opened at $69.15 on Monday. The stock has a market cap of $53.83 billion, a P/E ratio of 33.73, a P/E/G ratio of 1.86 and a beta of 0.97. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42. Activision Blizzard has a 52 week low of $57.29 and a 52 week high of $81.64.
A number of institutional investors have recently modified their holdings of ATVI. OppenheimerFunds Inc. raised its stake in Activision Blizzard by 284.7% in the 1st quarter. OppenheimerFunds Inc. now owns 4,159,793 shares of the company’s stock worth $280,621,000 after purchasing an additional 3,078,408 shares in the last quarter. CI Global Investments Inc. raised its position in shares of Activision Blizzard by 2,744.5% in the 1st quarter. CI Global Investments Inc. now owns 1,966,218 shares of the company’s stock valued at $132,641,000 after buying an additional 1,897,095 shares in the last quarter. Egerton Capital UK LLP raised its position in shares of Activision Blizzard by 29.1% in the 2nd quarter. Egerton Capital UK LLP now owns 7,286,230 shares of the company’s stock valued at $556,085,000 after buying an additional 1,642,285 shares in the last quarter. ADAMCAPITAL Gestao de Recursos Ltda. acquired a new position in shares of Activision Blizzard in the 2nd quarter valued at approximately $108,371,000. Finally, Alecta Pensionsforsakring Omsesidigt acquired a new position in shares of Activision Blizzard in the 1st quarter valued at approximately $94,402,000. Institutional investors and hedge funds own 85.58% of the company’s stock.
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. 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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