Analysts predict that Activision Blizzard, Inc. (NASDAQ:ATVI) will post $1.67 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have made estimates for Activision Blizzard’s earnings, with estimates ranging from $1.62 billion to $1.72 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 firm is expected to report its next quarterly earnings report after the market closes on Thursday, November 8th.
On average, analysts expect that Activision Blizzard will report full year sales of $7.50 billion for the current financial year, with estimates ranging from $7.26 billion to $7.63 billion. For the next financial year, analysts anticipate that the business will report sales of $7.99 billion, with estimates ranging from $7.49 billion to $8.30 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Activision Blizzard.
Several research analysts recently commented on the stock. KeyCorp decreased their target price on shares of Activision Blizzard from $90.00 to $85.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 31st. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Stifel Nicolaus decreased their target price on shares of Activision Blizzard from $82.00 to $78.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. ValuEngine downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, Wedbush set a $100.00 target price on shares of Activision Blizzard and gave the stock an “outperform” rating in a research note on Monday. Nine research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $82.75.
Shares of NASDAQ ATVI opened at $64.34 on Friday. The company has a current ratio of 2.98, a quick ratio of 2.96 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 $84.68. The firm has a market capitalization of $52.60 billion, a P/E ratio of 31.39, a PEG ratio of 1.84 and a beta of 1.11.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Monday, August 20th. The shares were sold at an average price of $68.70, for a total value of $1,357,580.70. Following the sale, the chief executive officer now owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.29% of the company’s stock.
Several hedge funds have recently made changes to their positions in ATVI. Altman Advisors Inc. bought a new position in Activision Blizzard in the 2nd quarter worth about $323,000. Asset Advisors Investment Management LLC bought a new position in Activision Blizzard in the 3rd quarter worth about $100,000. Ashburton Jersey Ltd bought a new position in Activision Blizzard in the 2nd quarter worth about $107,000. Quad Cities Investment Group LLC bought a new position in Activision Blizzard in the 2nd quarter worth about $114,000. Finally, NuWave Investment Management LLC bought a new position in Activision Blizzard in the 2nd quarter worth about $121,000. Hedge funds and other institutional investors own 86.92% of the company’s stock.
About Activision Blizzard
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Activision Blizzard Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Activision Blizzard and related companies with MarketBeat.com's FREE daily email newsletter.