Activision Blizzard, Inc. (ATVI) Expected to Announce Quarterly Sales of $3.05 Billion

Share on StockTwits

Brokerages predict that Activision Blizzard, Inc. (NASDAQ:ATVI) will report $3.05 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Activision Blizzard’s earnings, with estimates ranging from $2.97 billion to $3.11 billion. Activision Blizzard posted sales of $2.64 billion in the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The business is scheduled to report its next earnings results after the market closes on Tuesday, February 12th.

According to Zacks, analysts expect that Activision Blizzard will report full-year sales of $7.45 billion for the current fiscal year, with estimates ranging from $7.24 billion to $7.53 billion. For the next fiscal year, analysts expect that the business will report sales of $7.27 billion, with estimates ranging from $6.74 billion to $7.67 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.03). The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.66 billion. Activision Blizzard had a return on equity of 15.44% and a net margin of 8.07%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share.

Several research firms have recently weighed in on ATVI. Benchmark reduced their price target on Activision Blizzard from $87.00 to $68.00 and set a “buy” rating on the stock in a report on Monday. ValuEngine cut Activision Blizzard from a “sell” rating to a “strong sell” rating in a report on Thursday. Credit Suisse Group restated a “buy” rating and set a $70.00 price target on shares of Activision Blizzard in a report on Monday, February 4th. Goldman Sachs Group began coverage on Activision Blizzard in a report on Wednesday, January 30th. They set a “neutral” rating and a $50.00 price target on the stock. Finally, Oppenheimer restated a “market perform” rating on shares of Activision Blizzard in a report on Tuesday, January 29th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and an average price target of $66.68.

Shares of NASDAQ:ATVI traded down $3.30 during midday trading on Monday, hitting $40.11. 44,852,292 shares of the stock were exchanged, compared to its average volume of 12,810,312. The stock has a market cap of $33.12 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The company has a current ratio of 2.09, a quick ratio of 2.01 and a debt-to-equity ratio of 0.25. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68.

A number of hedge funds have recently made changes to their positions in ATVI. State of Tennessee Treasury Department boosted its holdings in shares of Activision Blizzard by 7.1% during the 4th quarter. State of Tennessee Treasury Department now owns 265,645 shares of the company’s stock worth $12,371,000 after buying an additional 17,702 shares in the last quarter. WCM Investment Management LLC boosted its holdings in shares of Activision Blizzard by 79.8% during the 4th quarter. WCM Investment Management LLC now owns 1,830,191 shares of the company’s stock worth $85,232,000 after buying an additional 812,137 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of Activision Blizzard by 32.2% during the 4th quarter. Rafferty Asset Management LLC now owns 32,746 shares of the company’s stock worth $1,525,000 after buying an additional 7,985 shares in the last quarter. AlphaCrest Capital Management LLC bought a new position in shares of Activision Blizzard during the 4th quarter worth approximately $527,000. Finally, Bank of Nova Scotia boosted its holdings in shares of Activision Blizzard by 4.9% during the 4th quarter. Bank of Nova Scotia now owns 234,800 shares of the company’s stock worth $10,935,000 after buying an additional 11,033 shares in the last quarter. Institutional investors and hedge funds own 90.62% 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.

Further Reading: Are Wall Street analysts’ stock ratings worth following?

Get a free copy of the Zacks research report on Activision Blizzard (ATVI)

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.

Latest News

Spectris  Given Add Rating at Peel Hunt
Spectris Given Add Rating at Peel Hunt
Land Securities Group’s  Hold Rating Reiterated at Peel Hunt
Land Securities Group’s Hold Rating Reiterated at Peel Hunt
British Land’s  Hold Rating Reiterated at Peel Hunt
British Land’s Hold Rating Reiterated at Peel Hunt
Taylor Morrison Home  Lowered to Strong Sell at ValuEngine
Taylor Morrison Home Lowered to Strong Sell at ValuEngine
Five Below  Rating Lowered to Buy at BidaskClub
Five Below Rating Lowered to Buy at BidaskClub
Ribbon Communications  Upgraded at BidaskClub
Ribbon Communications Upgraded at BidaskClub


Leave a Reply

© 2006-2019 Ticker Report