Activision Blizzard (NASDAQ:ATVI) Releases Earnings Results, Misses Estimates By $0.07 EPS

Activision Blizzard (NASDAQ:ATVI – Get Rating) announced its earnings results on Monday. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.07), MarketWatch Earnings reports. Activision Blizzard had a return on equity of 15.15% and a net margin of 30.65%. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.80 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Activision Blizzard’s revenue for the quarter was down 22.3% on a year-over-year basis.

Shares of ATVI stock opened at $78.05 on Tuesday. The company has a market capitalization of $60.95 billion, a price-to-earnings ratio of 22.62, 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. The company has a 50-day simple moving average of $80.05 and a 200 day simple moving average of $73.53. Activision Blizzard has a 52 week low of $56.40 and a 52 week high of $99.46.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 6th. Investors of record on Friday, April 15th will be issued a dividend of $0.47 per share. This is an increase from Activision Blizzard’s previous quarterly dividend of $0.34. The ex-dividend date is Wednesday, April 13th. This represents a $1.88 annualized dividend and a dividend yield of 2.41%. Activision Blizzard’s payout ratio is presently 13.62%.

A number of equities analysts have issued reports on ATVI shares. Credit Suisse Group cut shares of Activision Blizzard from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $125.00 to $95.00 in a research note on Wednesday, January 19th. Edward Jones cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Thursday, January 13th. Deutsche Bank Aktiengesellschaft cut shares of Activision Blizzard from a “buy” rating to a “hold” rating in a research note on Wednesday, January 19th. Wells Fargo & Company cut shares of Activision Blizzard from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a research note on Wednesday, January 19th. Finally, Raymond James lowered shares of Activision Blizzard from an “outperform” rating to a “market perform” rating in a report on Friday, January 21st. Nineteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Activision Blizzard has a consensus rating of “Hold” and a consensus target price of $96.82.

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

Several large investors have recently modified their holdings of the company. Morgan Stanley increased its position in Activision Blizzard by 7.3% during the 2nd quarter. Morgan Stanley now owns 10,097,483 shares of the company’s stock worth $963,703,000 after purchasing an additional 687,258 shares in the last quarter. Hardman Johnston Global Advisors LLC increased its position in Activision Blizzard by 0.3% during the 4th quarter. Hardman Johnston Global Advisors LLC now owns 240,240 shares of the company’s stock worth $15,983,000 after purchasing an additional 670 shares in the last quarter. EverSource Wealth Advisors LLC acquired a new position in Activision Blizzard during the 4th quarter worth approximately $43,000. Sequoia Financial Advisors LLC acquired a new position in Activision Blizzard during the 4th quarter worth approximately $206,000. Finally, Silvercrest Asset Management Group LLC increased its position in Activision Blizzard by 8.8% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 13,698 shares of the company’s stock worth $911,000 after purchasing an additional 1,111 shares in the last quarter. Institutional investors own 84.01% of the company’s stock.

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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