Take-Two Interactive Software (NASDAQ:TTWO) Updates FY 2023 Earnings Guidance

Take-Two Interactive Software (NASDAQ:TTWOGet Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided earnings per share guidance of $4.20-$4.45 for the period, compared to the consensus earnings per share estimate of $5.99. The company issued revenue guidance of $3.75 billion-$3.85 billion, compared to the consensus revenue estimate of $4.01 billion.Take-Two Interactive Software also updated its Q1 2023 guidance to $0.60-$0.70 EPS.

Shares of NASDAQ:TTWO opened at $125.78 on Monday. Take-Two Interactive Software has a 12-month low of $101.85 and a 12-month high of $195.82. The business’s fifty day simple moving average is $132.27 and its 200-day simple moving average is $153.57. The company has a market capitalization of $14.57 billion, a PE ratio of 35.13, a P/E/G ratio of 2.13 and a beta of 0.77.

Take-Two Interactive Software (NASDAQ:TTWOGet Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.25. The company had revenue of $845.78 million during the quarter, compared to analysts’ expectations of $884.62 million. Take-Two Interactive Software had a return on equity of 12.63% and a net margin of 11.93%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.66 EPS. Sell-side analysts forecast that Take-Two Interactive Software will post 3.33 EPS for the current fiscal year.

TTWO has been the subject of several research reports. Credit Suisse Group cut their price objective on Take-Two Interactive Software to $190.00 and set a neutral rating for the company in a research note on Tuesday, May 17th. StockNews.com began coverage on Take-Two Interactive Software in a research report on Thursday, March 31st. They issued a hold rating for the company. Wedbush dropped their price target on Take-Two Interactive Software from $180.00 to $145.00 in a research report on Tuesday, May 17th. Cowen dropped their price target on Take-Two Interactive Software to $185.00 and set a na rating for the company in a research report on Tuesday, May 17th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Take-Two Interactive Software from $215.00 to $200.00 in a research report on Wednesday, May 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $186.30.

In other Take-Two Interactive Software news, President Karl Slatoff sold 152,373 shares of the company’s stock in a transaction on Wednesday, April 13th. The stock was sold at an average price of $138.64, for a total transaction of $21,124,992.72. Following the transaction, the president now directly owns 437,067 shares in the company, valued at $60,594,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in shares of Take-Two Interactive Software in the first quarter valued at $167,000. Neuberger Berman Group LLC increased its holdings in Take-Two Interactive Software by 9.3% in the first quarter. Neuberger Berman Group LLC now owns 132,606 shares of the company’s stock valued at $20,389,000 after buying an additional 11,321 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Take-Two Interactive Software by 7.3% in the first quarter. The Manufacturers Life Insurance Company now owns 87,598 shares of the company’s stock valued at $13,468,000 after buying an additional 5,959 shares during the last quarter. Capital World Investors purchased a new position in Take-Two Interactive Software in the first quarter valued at $513,164,000. Finally, Gamco Investors INC. ET AL increased its holdings in Take-Two Interactive Software by 0.7% in the first quarter. Gamco Investors INC. ET AL now owns 79,244 shares of the company’s stock valued at $12,183,000 after buying an additional 560 shares during the last quarter. Institutional investors and hedge funds own 88.08% of the company’s stock.

Take-Two Interactive Software Company Profile (Get Rating)

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games, 2K, Private Division, Social Point, and Playdots labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead Redemption names; and offers episodes and content.

See Also

Earnings History and Estimates for Take-Two Interactive Software (NASDAQ:TTWO)

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