Analysts forecast that Activision Blizzard, Inc. (NASDAQ:ATVI) will report sales of $1.88 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Activision Blizzard's earnings, with estimates ranging from $1.85 billion to $1.90 billion. Activision Blizzard posted sales of $1.77 billion during the same quarter last year, which would indicate a positive year over year growth rate of 6.2%. The firm is scheduled to report its next earnings report on Thursday, November 4th.
On average, analysts expect that Activision Blizzard will report full year sales of $8.78 billion for the current fiscal year, with estimates ranging from $8.62 billion to $9.12 billion. For the next fiscal year, analysts expect that the firm will report sales of $9.80 billion, with estimates ranging from $9.28 billion to $10.45 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research firms that cover Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Monday, August 2nd. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.76 by $0.15. Activision Blizzard had a return on equity of 17.05% and a net margin of 29.17%. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.89 billion.
Several research firms have weighed in on ATVI. Raymond James reduced their target price on Activision Blizzard from $120.00 to $110.00 and set an "outperform" rating on the stock in a report on Wednesday, August 4th. Credit Suisse Group lifted their target price on Activision Blizzard from $120.00 to $125.00 and gave the stock an "outperform" rating in a report on Monday, August 2nd. Berenberg Bank lifted their target price on Activision Blizzard from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, July 13th. Zacks Investment Research lowered Activision Blizzard from a "hold" rating to a "strong sell" rating and set a $78.00 target price on the stock. in a report on Wednesday, July 21st. Finally, Moffett Nathanson began coverage on Activision Blizzard in a report on Thursday, June 24th. They set a "buy" rating and a $124.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Activision Blizzard presently has an average rating of "Buy" and a consensus target price of $111.91.
In other Activision Blizzard news, Director Peter J. Nolan purchased 3,950 shares of the stock in a transaction on Monday, August 9th. The shares were purchased at an average price of $81.93 per share, with a total value of $323,623.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Amundi bought a new stake in shares of Activision Blizzard during the second quarter worth approximately $277,982,000. Comgest Global Investors S.A.S. boosted its holdings in shares of Activision Blizzard by 256.2% during the second quarter. Comgest Global Investors S.A.S. now owns 3,048,210 shares of the company's stock worth $290,921,000 after acquiring an additional 2,192,485 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Activision Blizzard by 306.9% during the first quarter. Renaissance Technologies LLC now owns 2,047,598 shares of the company's stock worth $190,427,000 after acquiring an additional 1,544,400 shares during the period. State Street Corp boosted its holdings in shares of Activision Blizzard by 3.1% during the second quarter. State Street Corp now owns 34,546,946 shares of the company's stock worth $3,297,161,000 after acquiring an additional 1,028,868 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Activision Blizzard by 7.5% during the second quarter. Geode Capital Management LLC now owns 13,085,356 shares of the company's stock worth $1,245,612,000 after acquiring an additional 908,734 shares during the period. 85.19% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:ATVI opened at $79.28 on Friday. Activision Blizzard has a 12-month low of $71.19 and a 12-month high of $104.53. The company has a quick ratio of 4.83, a current ratio of 4.83 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $61.66 billion, a P/E ratio of 23.74, a P/E/G ratio of 1.48 and a beta of 0.59. The stock's fifty day simple moving average is $84.08 and its 200-day simple moving average is $90.65.
About Activision Blizzard
Activision Blizzard, Inc engages in the development and publication of interactive entertainment. It operates through the following segments: Activision Publishing, Blizzard Entertainment and King Digital Entertainment. The Activision Publishing segment develops and publishes interactive software products and entertainment content, particularly for the console platform.
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