Take-Two Interactive Software, Inc. (TTWO) Expected to Post Quarterly Sales of $512.94 Million
Wall Street brokerages forecast that Take-Two Interactive Software, Inc. (NASDAQ:TTWO) will announce $512.94 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Take-Two Interactive Software’s earnings. The lowest sales estimate is $491.60 million and the highest is $521.10 million. Take-Two Interactive Software reported sales of $420.17 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 22.1%. The company is expected to issue its next quarterly earnings report on Wednesday, November 1st.
According to Zacks, analysts expect that Take-Two Interactive Software will report full-year sales of $512.94 million for the current fiscal year, with estimates ranging from $1.72 billion to $1.82 billion. For the next fiscal year, analysts expect that the business will post sales of $2.70 billion per share, with estimates ranging from $2.51 billion to $3.12 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Take-Two Interactive Software.
Take-Two Interactive Software (NASDAQ:TTWO) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.25. Take-Two Interactive Software had a return on equity of 28.89% and a net margin of 8.73%. The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $280.70 million. During the same quarter in the prior year, the business posted ($0.21) EPS. The business’s revenue for the quarter was up 27.8% on a year-over-year basis.
TTWO has been the topic of a number of recent analyst reports. Zacks Investment Research cut shares of Take-Two Interactive Software from a “buy” rating to a “hold” rating in a research report on Saturday, May 27th. Hilliard Lyons cut shares of Take-Two Interactive Software from a “neutral” rating to an “underperform” rating in a research report on Friday, June 2nd. Piper Jaffray Companies lifted their price target on shares of Take-Two Interactive Software from $80.00 to $83.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 7th. BidaskClub cut shares of Take-Two Interactive Software from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $87.00 price target on shares of Take-Two Interactive Software in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $89.55.
ILLEGAL ACTIVITY NOTICE: This report was originally posted by Daily Political and is the sole property of of Daily Political. If you are accessing this report on another domain, it was illegally copied and reposted in violation of US & international copyright & trademark law. The correct version of this report can be accessed at https://www.dailypolitical.com/2017/09/24/take-two-interactive-software-inc-ttwo-expected-to-post-quarterly-sales-of-512-94-million.html.
Take-Two Interactive Software (NASDAQ:TTWO) traded up 1.10% on Thursday, hitting $102.84. The stock had a trading volume of 1,361,479 shares. Take-Two Interactive Software has a 12-month low of $41.70 and a 12-month high of $103.28. The company’s 50 day moving average is $94.03 and its 200 day moving average is $74.78. The firm has a market cap of $10.74 billion, a PE ratio of 60.71 and a beta of 0.77.
In other news, Director Michael Sheresky sold 465 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $89.96, for a total transaction of $41,831.40. Following the transaction, the director now directly owns 69,006 shares in the company, valued at approximately $6,207,779.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Dornemann sold 7,000 shares of the business’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $87.80, for a total transaction of $614,600.00. Following the transaction, the director now owns 9,394 shares in the company, valued at $824,793.20. The disclosure for this sale can be found here. Insiders have sold a total of 87,465 shares of company stock worth $7,677,331 over the last 90 days. 1.55% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in shares of Take-Two Interactive Software by 6.4% during the 1st quarter. Fifth Third Bancorp now owns 1,685 shares of the company’s stock worth $100,000 after purchasing an additional 101 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Take-Two Interactive Software during the 1st quarter worth about $114,000. Smithfield Trust Co. acquired a new position in shares of Take-Two Interactive Software during the 2nd quarter worth about $125,000. Crow Point Partners LLC increased its stake in shares of Take-Two Interactive Software by 63.4% during the 2nd quarter. Crow Point Partners LLC now owns 1,775 shares of the company’s stock worth $129,000 after purchasing an additional 689 shares during the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new position in shares of Take-Two Interactive Software during the 2nd quarter worth about $134,000. Institutional investors own 96.09% of the company’s stock.
Take-Two Interactive Software Company Profile
Take-Two Interactive Software, Inc is a developer, publisher and marketer of entertainment for consumers around the world. The Company develops and publishes products through its labels, Rockstar Games and 2K. It operates through publishing segment. It has a portfolio of software content for the hardware platforms in a range of genres, including action, adventure, family/casual, racing, role-playing, shooter, sports and strategy, which it distributes across the world.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Take-Two Interactive Software Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Take-Two Interactive Software Inc. and related companies with MarketBeat.com's FREE daily email newsletter.