Activision Blizzard (NASDAQ:ATVI) Updates Q4 Earnings Guidance

Activision Blizzard (NASDAQ:ATVI) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.42. The company issued revenue guidance of ~$2.65 billion, compared to the consensus revenue estimate of $2.69 billion.

A number of research analysts recently weighed in on the company. Nomura raised Activision Blizzard from a neutral rating to a buy rating and boosted their target price for the stock from $49.00 to $64.00 in a report on Thursday, September 12th. Piper Jaffray Companies set a $62.00 target price on Activision Blizzard and gave the stock a buy rating in a report on Friday, October 25th. TheStreet raised Activision Blizzard from a c+ rating to a b- rating in a report on Tuesday, August 13th. Needham & Company LLC reissued a buy rating and set a $62.00 target price on shares of Activision Blizzard in a report on Friday. Finally, Stifel Nicolaus boosted their target price on Activision Blizzard from $57.00 to $65.00 and gave the stock a buy rating in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have given a buy rating to the stock. Activision Blizzard has a consensus rating of Buy and a consensus target price of $60.52.

ATVI traded down $0.25 during trading on Friday, hitting $54.30. The stock had a trading volume of 15,898,300 shares, compared to its average volume of 8,976,302. The company has a 50 day moving average price of $54.65 and a 200-day moving average price of $49.30. The firm has a market cap of $42.60 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 2.14 and a beta of 0.87. Activision Blizzard has a one year low of $39.85 and a one year high of $57.52. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.15 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The firm’s quarterly revenue was down 27.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. As a group, sell-side analysts predict that Activision Blizzard will post 2.01 EPS for the current fiscal year.

In other news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total transaction of $280,889.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the company’s stock in a transaction 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 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. Over the last quarter, insiders have sold 145,511 shares of company stock valued at $6,997,557. Corporate insiders own 1.29% of the company’s stock.

About Activision Blizzard

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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Earnings History and Estimates for Activision Blizzard (NASDAQ:ATVI)

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