Activision Blizzard, Inc. (ATVI) Expected to Announce Quarterly Sales of $1.47 Billion

Equities analysts forecast that Activision Blizzard, Inc. (NASDAQ:ATVI) will report $1.47 billion in sales for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for Activision Blizzard’s earnings. The highest sales estimate is $1.74 billion and the lowest is $1.25 billion. Activision Blizzard reported sales of $1.20 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, May 3rd.

On average, analysts expect that Activision Blizzard will report full year sales of $1.47 billion for the current year, with estimates ranging from $7.21 billion to $7.58 billion. For the next year, analysts forecast that the firm will report sales of $8.07 billion per share, with estimates ranging from $7.93 billion to $8.30 billion. Zacks’ sales calculations are an average based on a survey of research analysts that cover Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, February 8th. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.55 billion. Activision Blizzard had a return on equity of 17.37% and a net margin of 3.89%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS.

A number of research analysts have commented on ATVI shares. Wedbush set a $75.00 price objective on Activision Blizzard and gave the company a “buy” rating in a research report on Thursday, October 26th. Zacks Investment Research upgraded Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a research report on Friday, October 27th. UBS Group increased their price objective on Activision Blizzard from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. KeyCorp reiterated a “buy” rating and issued a $74.00 price objective on shares of Activision Blizzard in a research report on Tuesday, October 17th. Finally, Vetr downgraded Activision Blizzard from a “hold” rating to a “sell” rating and set a $59.97 price target on the stock. in a research note on Monday, October 30th. Six investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $71.75.

Activision Blizzard (NASDAQ ATVI) opened at $67.08 on Monday. The company has a market capitalization of $50,720.00, a price-to-earnings ratio of 191.66, a price-to-earnings-growth ratio of 1.85 and a beta of 1.11. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.25 and a quick ratio of 2.22. Activision Blizzard has a 12-month low of $44.47 and a 12-month high of $74.94.

In other Activision Blizzard news, CEO of King Digital Entertainment Riccardo Zacconi sold 19,761 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. Following the completion of the transaction, the insider now owns 41,435 shares in the company, valued at approximately $2,636,923.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.12% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the business. Cornerstone Advisors Inc. grew its holdings in shares of Activision Blizzard by 321.5% in the 3rd quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock valued at $100,000 after acquiring an additional 1,180 shares in the last quarter. SeaCrest Wealth Management LLC bought a new position in shares of Activision Blizzard in the 4th quarter valued at about $125,000. Goodman Financial Corp bought a new position in shares of Activision Blizzard in the 4th quarter valued at about $127,000. Grove Bank & Trust grew its holdings in shares of Activision Blizzard by 261.7% in the 3rd quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock valued at $140,000 after acquiring an additional 1,570 shares in the last quarter. Finally, Phocas Financial Corp. bought a new position in shares of Activision Blizzard in the 2nd quarter valued at about $173,000. Hedge funds and other institutional investors own 86.04% of the company’s stock.

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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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