Wall Street brokerages expect Activision Blizzard, Inc (NASDAQ:ATVI) to announce sales of $1.21 billion for the current quarter, Zacks reports. Eight analysts have issued estimates for Activision Blizzard’s earnings, with the lowest sales estimate coming in at $1.17 billion and the highest estimate coming in at $1.23 billion. Activision Blizzard posted sales of $1.61 billion during the same quarter last year, which suggests a negative year over year growth rate of 24.8%. The business is expected to report its next earnings report after the market closes on Thursday, August 3rd.

On average, analysts expect that Activision Blizzard will report full-year sales of $1.21 billion for the current financial year, with estimates ranging from $6.38 billion to $6.88 billion. For the next year, analysts expect that the company will post sales of $7.18 billion per share, with estimates ranging from $6.84 billion to $7.49 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last announced its earnings results on Thursday, May 4th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.11. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.09 billion. Activision Blizzard had a return on equity of 16.90% and a net margin of 14.63%. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS.

A number of analysts have issued reports on ATVI shares. Cowen and Company boosted their target price on Activision Blizzard from $51.00 to $59.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. MKM Partners reissued a “neutral” rating and issued a $48.00 target price (up previously from $44.00) on shares of Activision Blizzard in a research report on Tuesday, May 2nd. Zacks Investment Research lowered Activision Blizzard from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Piper Jaffray Companies reissued an “overweight” rating and issued a $65.00 target price on shares of Activision Blizzard in a research report on Tuesday, July 18th. Finally, Pacific Crest restated an “overweight” rating and issued a $60.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $61.14.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 55,509 shares in the company, valued at $3,077,974.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.12% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ATVI. Harwood Advisory Group LLC increased its position in Activision Blizzard by 0.7% in the second quarter. Harwood Advisory Group LLC now owns 5,288 shares of the company’s stock valued at $304,000 after buying an additional 36 shares in the last quarter. Guardian Life Insurance Co. of America increased 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 valued at $133,000 after buying an additional 51 shares in the last quarter. TIAA CREF Trust Co. FSB MO increased its position in Activision Blizzard by 0.7% in the first quarter. TIAA CREF Trust Co. FSB MO now owns 12,157 shares of the company’s stock valued at $606,000 after buying an additional 90 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in Activision Blizzard by 0.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 51,579 shares of the company’s stock valued at $2,572,000 after buying an additional 131 shares in the last quarter. Finally, Steinberg Global Asset Management increased its position in Activision Blizzard by 0.4% in the first quarter. Steinberg Global Asset Management now owns 35,542 shares of the company’s stock valued at $1,772,000 after buying an additional 131 shares in the last quarter. Institutional investors own 87.48% of the company’s stock.

Shares of Activision Blizzard (ATVI) traded down 0.311% during mid-day trading on Thursday, reaching $62.445. The company’s stock had a trading volume of 1,586,944 shares. The stock has a 50 day moving average of $59.49 and a 200-day moving average of $51.24. Activision Blizzard has a one year low of $35.12 and a one year high of $63.19. The stock has a market cap of $47.06 billion, a P/E ratio of 45.814 and a beta of 1.07.

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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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