Activision Blizzard, Inc., together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products. The company also maintains a proprietary online gaming service, Battle.net that facilitates digital distribution of content, online social connectivity, and the creation of user-generated content. In addition, it operates esports leagues and offer digital advertising content; and provides warehousing, logistics, and sales distribution services to third-party publishers of interactive entertainment software, as well as manufacturers of interactive entertainment hardware products. The company's key product franchises include Call of Duty, World of Warcraft, Diablo, Hearthstone, Overwatch, Overwatch League, and Candy Crush. It serves retailers and distributors, including mass-market retailers, consumer electronics stores, discount warehouses, and game specialty stores through third-party distribution and licensing arrangements. The company is headquartered in Santa Monica, California.
Activision Blizzard Price Performance
Shares of ATVI traded up $0.28 during trading hours on Friday, hitting $80.79. 5,822,970 shares of the company were exchanged, compared to its average volume of 4,516,424. The company has a market capitalization of $63.20 billion, a PE ratio of 33.66, a PEG ratio of 3.50 and a beta of 0.51. The company has a debt-to-equity ratio of 0.20, a current ratio of 6.18 and a quick ratio of 6.18. The firm has a fifty day simple moving average of $78.08 and a 200-day simple moving average of $78.87. Activision Blizzard has a one year low of $56.40 and a one year high of $86.90.
Activision Blizzard (NASDAQ:ATVI - Get Rating) last released its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.09. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.57 billion. Activision Blizzard had a return on equity of 10.22% and a net margin of 24.57%. The company's revenue was down 14.6% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS. As a group, sell-side analysts predict that Activision Blizzard will post 2.42 earnings per share for the current year.
Analyst Ratings Changes
A number of analysts have recently weighed in on ATVI shares. Moffett Nathanson upgraded Activision Blizzard from a "neutral" rating to a "buy" rating and set a $95.00 price target on the stock in a research report on Wednesday, August 3rd. Jefferies Financial Group reiterated a "buy" rating and set a $95.00 price target on shares of Activision Blizzard in a research report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Activision Blizzard from $95.00 to $84.00 in a research report on Thursday, August 4th. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $94.73.
Insider Transactions at Activision Blizzard
In other news, CFO Armin Zerza sold 10,174 shares of the firm's stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total transaction of $816,158.28. Following the completion of the sale, the chief financial officer now directly owns 186,117 shares of the company's stock, valued at approximately $14,930,305.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.