Activision Blizzard (NASDAQ:ATVI) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.29 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.42. The company issued revenue guidance of ~$2.65 billion, compared to the consensus revenue estimate of $2.69 billion.
Shares of NASDAQ ATVI traded down $1.81 during midday trading on Thursday, hitting $54.55. The stock had a trading volume of 12,501,300 shares, compared to its average volume of 8,944,205. The company has a market capitalization of $42.73 billion, a price-to-earnings ratio of 22.82, a PEG ratio of 2.15 and a beta of 0.87. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $65.40. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The company has a fifty day moving average price of $54.66 and a 200 day moving average price of $49.25.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.14. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The company’s revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 EPS. On average, research analysts forecast that Activision Blizzard will post 2.01 EPS for the current year.
Several equities analysts recently commented on the company. ValuEngine raised Activision Blizzard from a buy rating to a strong-buy rating in a research report on Friday, November 1st. Piper Jaffray Companies set a $62.00 price target on Activision Blizzard and gave the stock a buy rating in a research report on Friday, October 25th. Zacks Investment Research lowered Activision Blizzard from a buy rating to a hold rating and set a $57.00 price target on the stock. in a research report on Tuesday, October 29th. Sanford C. Bernstein lowered Activision Blizzard from a market perform rating to an underperform rating and boosted their price target for the stock from $41.00 to $43.00 in a research report on Wednesday, October 2nd. Finally, Barclays set a $63.00 price target on Activision Blizzard and gave the stock a buy rating in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $60.10.
In other news, insider Christopher B. Walther sold 5,333 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $50.83, for a total value of $271,076.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian M. Stolz sold 134,845 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total value of $6,445,591.00. Following the completion of the sale, the insider now owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The disclosure for this sale can be found here. Insiders have sold a total of 145,511 shares of company stock worth $6,997,557 over the last 90 days. 1.31% of the stock is owned by company insiders.
Activision Blizzard Company Profile
Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. It develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.
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