Brokerages Expect Activision Blizzard, Inc (ATVI) to Post $0.49 EPS
Wall Street brokerages predict that Activision Blizzard, Inc (NASDAQ:ATVI) will report earnings per share (EPS) of $0.49 for the current fiscal quarter, according to Zacks. Eight analysts have provided estimates for Activision Blizzard’s earnings, with estimates ranging from $0.45 to $0.54. Activision Blizzard also posted earnings per share of $0.49 during the same quarter last year. The company is scheduled to issue its next earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Activision Blizzard will report full year earnings of $2.12 per share for the current year, with EPS estimates ranging from $2.02 to $2.30. For the next year, analysts expect that the company will post earnings of $2.55 per share, with EPS estimates ranging from $2.36 to $2.94. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Activision Blizzard.
A number of equities analysts have recently issued reports on ATVI shares. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 28th. Vetr downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating and set a $64.63 price objective on the stock. in a research note on Wednesday, June 14th. Jefferies Group LLC reiterated a “buy” rating and set a $68.00 price objective on shares of Activision Blizzard in a research note on Thursday, June 8th. Benchmark Co. increased their price objective on shares of Activision Blizzard from $60.00 to $71.00 and gave the company a “buy” rating in a research note on Wednesday, June 21st. Finally, Argus increased their price objective on shares of Activision Blizzard from $53.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, May 22nd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $62.87.
Shares of Activision Blizzard (NASDAQ ATVI) traded down 1.23% during mid-day trading on Monday, hitting $64.20. The stock had a trading volume of 6,241,083 shares. Activision Blizzard has a 52-week low of $35.12 and a 52-week high of $66.58. The stock’s 50-day moving average price is $63.30 and its 200-day moving average price is $56.72. The firm has a market cap of $48.47 billion, a PE ratio of 43.35 and a beta of 1.08.
In related news, Director Brian G. Kelly sold 111,239 shares of the firm’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $62.44, for a total transaction of $6,945,763.16. Following the completion of the transaction, the director now owns 189,791 shares of the company’s stock, valued at $11,850,550.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dennis M. Durkin sold 160,000 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $60.68, for a total transaction of $9,708,800.00. Following the transaction, the insider now directly owns 337,534 shares of the company’s stock, valued at approximately $20,481,563.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,074,879 shares of company stock valued at $252,196,001. 2.12% of the stock is currently owned by corporate insiders.
Several institutional investors have recently modified their holdings of the stock. Allen Investment Management LLC purchased a new position in Activision Blizzard in the second quarter valued at $2,095,000. DnB Asset Management AS increased its holdings in Activision Blizzard by 10.6% in the second quarter. DnB Asset Management AS now owns 80,653 shares of the company’s stock valued at $4,643,000 after buying an additional 7,700 shares in the last quarter. Pacad Investment Ltd. increased its holdings in Activision Blizzard by 131.0% in the second quarter. Pacad Investment Ltd. now owns 119,447 shares of the company’s stock valued at $6,877,000 after buying an additional 67,742 shares in the last quarter. Brighton Jones LLC purchased a new position in Activision Blizzard in the second quarter valued at $508,000. Finally, Scout Investments Inc. increased its holdings in Activision Blizzard by 143.6% in the first quarter. Scout Investments Inc. now owns 614,690 shares of the company’s stock valued at $20,801,000 after buying an additional 362,384 shares in the last quarter. 86.27% of the stock is owned by hedge funds and other institutional investors.
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About Activision Blizzard
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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