Activision Blizzard, Inc Forecasted to Earn Q2 2017 Earnings of $0.25 Per Share (NASDAQ:ATVI)
Activision Blizzard, Inc (NASDAQ:ATVI) – Equities research analysts at KeyCorp issued their Q2 2017 earnings per share estimates for shares of Activision Blizzard in a report released on Monday. KeyCorp analyst E. Wingren anticipates that the company will post earnings per share of $0.25 for the quarter.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.11. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.09 billion. Activision Blizzard had a net margin of 14.63% and a return on equity of 16.90%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share.
A number of other equities research analysts have also recently issued reports on the company. Vetr cut Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $67.48 price objective on the stock. in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. increased their price objective on Activision Blizzard from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, June 22nd. CIBC reissued an “outperform” rating and set a $70.00 target price (up from $60.00) on shares of Activision Blizzard in a report on Thursday, June 22nd. Jefferies Group LLC reissued a “buy” rating and set a $68.00 target price on shares of Activision Blizzard in a report on Thursday, June 8th. Finally, Robert W. Baird reissued an “outperform” rating and set a $60.00 target price on shares of Activision Blizzard in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and an average price target of $59.78.
Activision Blizzard (NASDAQ:ATVI) opened at 61.33 on Thursday. The company has a market capitalization of $46.22 billion, a P/E ratio of 45.00 and a beta of 1.07. The firm’s 50-day moving average is $59.22 and its 200-day moving average is $50.46. Activision Blizzard has a 1-year low of $35.12 and a 1-year high of $62.39. Activision Blizzard also was the recipient of unusually large options trading on Monday. Stock traders acquired 16,616 call options on the company. This is an increase of approximately 241% compared to the typical volume of 4,866 call options.
In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $55.45, for a total value of $1,095,747.45. Following the completion of the sale, the chief executive officer now owns 55,509 shares in the company, valued at approximately $3,077,974.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.12% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its position in Activision Blizzard by 1.9% in the first quarter. Guardian Life Insurance Co. of America now owns 2,671 shares of the company’s stock worth $133,000 after buying an additional 51 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Activision Blizzard by 504.6% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 3,023 shares of the company’s stock valued at $151,000 after buying an additional 2,523 shares during the period. Family Legacy Inc. purchased a new stake in Activision Blizzard during the second quarter valued at about $232,000. Stratos Wealth Partners LTD. purchased a new stake in Activision Blizzard during the first quarter valued at about $202,000. Finally, Two Sigma Securities LLC purchased a new stake in Activision Blizzard during the first quarter valued at about $208,000. Institutional investors and hedge funds own 87.45% of the company’s stock.
Activision Blizzard Company Profile
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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