Analysts Anticipate Activision Blizzard, Inc (ATVI) Will Announce Earnings of $0.90 Per Share
Analysts forecast that Activision Blizzard, Inc (NASDAQ:ATVI) will announce earnings of $0.90 per share for the current quarter, Zacks reports. Eight analysts have issued estimates for Activision Blizzard’s earnings, with the lowest EPS estimate coming in at $0.82 and the highest estimate coming in at $1.02. Activision Blizzard reported earnings per share of $0.92 during the same quarter last year, which would suggest a negative year over year growth rate of 2.2%. The business is scheduled to report its next quarterly earnings results on Thursday, February 8th.
According to Zacks, analysts expect that Activision Blizzard will report full year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.10 to $2.36. For the next fiscal year, analysts forecast that the business will post earnings of $2.57 per share, with EPS estimates ranging from $2.35 to $2.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Activision Blizzard.
ATVI has been the topic of a number of research analyst reports. Cowen and Company downgraded shares of Activision Blizzard from an “outperform” rating to a “market perform” rating and set a $66.00 price objective on the stock. in a research report on Monday, October 9th. Zacks Investment Research raised shares of Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research report on Friday, October 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $69.00 price objective on shares of Activision Blizzard in a research report on Friday, September 8th. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Activision Blizzard in a research report on Friday, September 8th. They set a “neutral” rating and a $65.00 price objective on the stock. Finally, Vetr downgraded shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $59.97 price objective on the stock. in a research report on Monday, October 23rd. Six analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $68.75.
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In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $61.32, for a total transaction of $1,211,744.52. Following the completion of the transaction, the chief executive officer now directly owns 48,472 shares in the company, valued at approximately $2,972,303.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.12% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in ATVI. Cornerstone Advisors Inc. increased its holdings in Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after buying an additional 1,180 shares during the period. Grove Bank & Trust increased its holdings in 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 buying an additional 1,570 shares during the period. Shine Investment Advisory Services Inc. bought a new stake in Activision Blizzard in the 2nd quarter valued at $142,000. Huntington National Bank increased its holdings in Activision Blizzard by 122.6% in the 2nd quarter. Huntington National Bank now owns 2,480 shares of the company’s stock valued at $143,000 after buying an additional 1,366 shares during the period. Finally, Bronfman E.L. Rothschild L.P. increased its holdings in Activision Blizzard by 16.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock valued at $150,000 after buying an additional 363 shares during the period. 86.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Activision Blizzard (NASDAQ ATVI) traded up $0.41 on Wednesday, reaching $64.03. 4,562,800 shares of the company were exchanged, compared to its average volume of 6,833,813. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $67.03. The stock has a market capitalization of $47,510.00, a P/E ratio of 28.92, a PEG ratio of 2.22 and a beta of 1.06. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22.
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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