Activision Blizzard (NASDAQ:ATVI) issued an update on its fourth quarter 2019
After-Hours earnings guidance on Monday morning. The company provided earnings per share guidance of $1.01-1.15 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.27. The company issued revenue guidance of $$2.646-2.646 billion, compared to the consensus revenue estimate of $$2.75 billion.Activision Blizzard also updated its FY 2019
After-Hours guidance to $1.60-2.17 EPS.
ATVI traded up $0.57 during mid-day trading on Monday, hitting $53.61. 299,355 shares of the stock were exchanged, compared to its average volume of 8,065,899. The firm’s fifty day moving average is $54.59 and its two-hundred day moving average is $49.68. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $57.52. The company has a current ratio of 3.43, a quick ratio of 3.38 and a debt-to-equity ratio of 0.22. The company has a market cap of $41.25 billion, a PE ratio of 22.44, a PEG ratio of 2.41 and a beta of 0.87.
Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. Activision Blizzard had a return on equity of 13.91% and a net margin of 23.66%. Activision Blizzard’s revenue for the quarter was down 27.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.52 EPS. As a group, research analysts anticipate that Activision Blizzard will post 2.02 earnings per share for the current year.
ATVI has been the topic of a number of analyst reports. Sanford C. Bernstein lowered Activision Blizzard from a market perform rating to an underperform rating and increased their price target for the company from $41.00 to $43.00 in a research report on Wednesday, October 2nd. Jefferies Financial Group raised Activision Blizzard to a buy rating and set a $65.00 price objective for the company in a report on Thursday, September 12th. MKM Partners boosted their price target on Activision Blizzard to $55.00 and gave the stock a neutral rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their price target on Activision Blizzard from $58.00 to $62.00 and gave the stock an overweight rating in a report on Friday, November 8th. Finally, BidaskClub cut Activision Blizzard from a buy rating to a hold rating in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $60.30.
In other news, insider Christopher B. Walther sold 5,333 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $52.67, for a total value of $280,889.11. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Collister Johnson sold 3,800 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $52.43, for a total value of $199,234.00. Following the completion of the sale, the chief operating officer now directly owns 280,983 shares of the company’s stock, valued at approximately $14,731,938.69. The disclosure for this sale can be found here. In the last three months, insiders have sold 14,466 shares of company stock valued at $751,200. 1.29% 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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