Brokerages Expect Activision Blizzard, Inc. (ATVI) to Announce $0.37 Earnings Per Share

Equities analysts expect that Activision Blizzard, Inc. (NASDAQ:ATVI) will report earnings per share of $0.37 for the current quarter, Zacks reports. Eight analysts have made estimates for Activision Blizzard’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.31. Activision Blizzard posted earnings of $0.31 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 19.4%. The firm is expected to report its next quarterly earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Activision Blizzard will report full year earnings of $2.64 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.90. For the next year, analysts anticipate that the firm will report earnings of $2.99 per share, with EPS estimates ranging from $2.74 to $3.34. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that cover Activision Blizzard.

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Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Activision Blizzard had a net margin of 3.89% and a return on equity of 17.48%. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. During the same quarter in the prior year, the company posted $0.65 EPS. The business’s revenue for the quarter was up 7.7% on a year-over-year basis.

A number of equities analysts recently weighed in on the stock. TheStreet cut shares of Activision Blizzard from a “b” rating to a “c+” rating in a research report on Thursday, February 8th. Wedbush set a $81.00 price objective on shares of Activision Blizzard and gave the stock a “buy” rating in a research report on Friday, February 9th. Jefferies Group reaffirmed a “buy” rating on shares of Activision Blizzard in a research report on Friday, February 9th. Barclays set a $70.00 price objective on shares of Activision Blizzard and gave the stock a “hold” rating in a research report on Friday, February 9th. Finally, Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “buy” rating and set a $77.00 price objective for the company in a research report on Tuesday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Activision Blizzard currently has an average rating of “Buy” and an average price target of $75.03.

Activision Blizzard stock traded down $1.71 during trading on Friday, hitting $68.05. 5,386,416 shares of the stock traded hands, compared to its average volume of 6,821,746. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78. The stock has a market cap of $54,325.61, a PE ratio of 189.03, a price-to-earnings-growth ratio of 1.91 and a beta of 1.10. Activision Blizzard has a twelve month low of $48.41 and a twelve month high of $79.63.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $70.99, for a total value of $1,402,833.39. Following the sale, the chief executive officer now directly owns 34,398 shares in the company, valued at approximately $2,441,914.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian G. Kelly sold 1,700,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $70.65, for a total transaction of $120,105,000.00. Following the completion of the sale, the director now owns 69,474 shares in the company, valued at $4,908,338.10. The disclosure for this sale can be found here. Insiders sold a total of 2,701,258 shares of company stock worth $191,727,094 over the last 90 days. Company insiders own 2.12% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Activision Blizzard in the 4th quarter valued at $125,000. Goodman Financial Corp acquired a new stake in shares of Activision Blizzard in the 4th quarter valued at $127,000. Grove Bank & Trust raised its holdings in shares of Activision Blizzard by 261.7% in the 3rd 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 acquired a new stake in shares of Activision Blizzard in the 4th quarter valued at $184,000. Finally, Exane Derivatives grew its position in shares of Activision Blizzard by 15,900.0% in the 4th quarter. Exane Derivatives now owns 3,040 shares of the company’s stock valued at $192,000 after buying an additional 3,021 shares during the last quarter. Institutional investors and hedge funds own 85.56% of the company’s stock.

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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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