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.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Activision Blizzard from $95.00 to $84.00 in a research note on Thursday, August 4th. Jefferies Financial Group restated a "buy" rating and set a $95.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 27th. Finally, Moffett Nathanson upgraded shares of Activision Blizzard from a "neutral" rating to a "buy" rating and set a $95.00 price target for the company in a research note on Wednesday, August 3rd. Seventeen analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Activision Blizzard currently has a consensus rating of "Hold" and an average target price of $94.30.
Activision Blizzard Stock Performance
Shares of NASDAQ:ATVI traded down $0.30 during midday trading on Monday, reaching $80.49. The company had a trading volume of 20,216 shares, compared to its average volume of 8,173,061. The company's 50 day moving average price is $78.08 and its 200 day moving average price is $78.87. The company has a current ratio of 6.18, a quick ratio of 6.18 and a debt-to-equity ratio of 0.20. The stock has a market cap of $62.97 billion, a P/E ratio of 33.65, a P/E/G ratio of 3.51 and a beta of 0.51. Activision Blizzard has a 52-week low of $56.40 and a 52-week high of $86.90.
Activision Blizzard (NASDAQ:ATVI - Get Rating) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.38 by $0.09. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm's quarterly revenue was down 14.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Activision Blizzard will post 2.42 EPS for the current fiscal year.
Insider Activity at Activision Blizzard
In related news, CFO Armin Zerza sold 10,174 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $80.22, for a total value of $816,158.28. Following the sale, the chief financial officer now directly owns 186,117 shares in the company, valued at approximately $14,930,305.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.10% of the stock is currently owned by company insiders.