$1.80 Billion in Sales Expected for Activision Blizzard, Inc. (NASDAQ:ATVI) This Quarter

Equities analysts expect Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) to post $1.80 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Activision Blizzard’s earnings. The lowest sales estimate is $1.66 billion and the highest is $1.93 billion. Activision Blizzard reported sales of $2.07 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 13%. The company is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Activision Blizzard will report full-year sales of $8.57 billion for the current financial year, with estimates ranging from $8.31 billion to $8.93 billion. For the next year, analysts forecast that the company will post sales of $9.78 billion, with estimates ranging from $9.21 billion to $10.52 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Activision Blizzard.

Activision Blizzard (NASDAQ:ATVIGet Rating) last issued its earnings results on Thursday, February 3rd. The company reported $1.00 EPS for the quarter, missing the Zacks’ consensus estimate of $1.23 by ($0.23). Activision Blizzard had a net margin of 30.65% and a return on equity of 15.15%. The business had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same quarter last year, the company earned $1.13 earnings per share.

A number of analysts have recently issued reports on the company. Raymond James cut Activision Blizzard from an “outperform” rating to a “market perform” rating in a report on Friday, January 21st. Robert W. Baird downgraded Activision Blizzard from an “outperform” rating to a “neutral” rating in a report on Tuesday, January 18th. Credit Suisse Group downgraded Activision Blizzard from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $125.00 to $95.00 in a report on Wednesday, January 19th. Exane BNP Paribas cut Activision Blizzard from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $106.00 to $95.00 in a research note on Wednesday, January 19th. Finally, KeyCorp decreased their target price on Activision Blizzard from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday, January 28th. Nineteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Activision Blizzard has an average rating of “Hold” and an average price target of $96.82.

In related news, COO Daniel Alegre sold 14,563 shares of the firm’s stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $79.66, for a total transaction of $1,160,088.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jesse Yang sold 2,072 shares of Activision Blizzard stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $79.54, for a total value of $164,806.88. The disclosure for this sale can be found here. 0.77% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Activision Blizzard by 5.6% in the 4th quarter. BlackRock Inc. now owns 61,381,263 shares of the company’s stock worth $4,083,695,000 after acquiring an additional 3,239,833 shares during the period. Capital International Investors grew its position in Activision Blizzard by 57.2% in the 4th quarter. Capital International Investors now owns 39,139,403 shares of the company’s stock worth $2,604,167,000 after purchasing an additional 14,244,622 shares during the last quarter. State Street Corp grew its position in Activision Blizzard by 0.8% in the 4th quarter. State Street Corp now owns 36,618,053 shares of the company’s stock valued at $2,436,199,000 after buying an additional 295,205 shares in the last quarter. Capital World Investors boosted its position in shares of Activision Blizzard by 23.8% during the 4th quarter. Capital World Investors now owns 31,818,816 shares of the company’s stock valued at $2,116,906,000 after purchasing an additional 6,120,230 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Activision Blizzard by 9.3% during the fourth quarter. Geode Capital Management LLC now owns 15,484,291 shares of the company’s stock valued at $1,028,035,000 after purchasing an additional 1,319,227 shares during the last quarter. 84.01% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ ATVI opened at $78.61 on Monday. The firm has a market capitalization of $61.39 billion, a P/E ratio of 22.79, a PEG ratio of 1.63 and a beta of 0.55. The company has a debt-to-equity ratio of 0.21, a quick ratio of 5.21 and a current ratio of 5.21. Activision Blizzard has a one year low of $56.40 and a one year high of $99.46. The company’s fifty day moving average is $80.11 and its two-hundred day moving average is $73.53.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 6th. Shareholders of record on Friday, April 15th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.39%. This is a positive change from Activision Blizzard’s previous quarterly dividend of $0.34. The ex-dividend date of this dividend is Wednesday, April 13th. Activision Blizzard’s dividend payout ratio is presently 13.62%.

Activision Blizzard Company Profile (Get Rating)

Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

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