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

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) issued an update on its FY 2023 earnings guidance on Monday morning. The company provided EPS guidance of $4.20-$4.45 for the period, compared to the consensus EPS 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.

TTWO opened at $126.97 on Monday. Take-Two Interactive Software has a 12 month low of $101.85 and a 12 month high of $195.82. The company has a fifty day simple moving average of $129.73 and a 200 day simple moving average of $151.70. The stock has a market cap of $14.70 billion, a P/E ratio of 35.47, a P/E/G ratio of 1.79 and a beta of 0.77.

Take-Two Interactive Software (NASDAQ:TTWO – Get Rating) last released its earnings results on Monday, May 16th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.25. The firm 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 company’s revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.66 EPS. On average, research analysts predict that Take-Two Interactive Software will post 3.33 earnings per share for the current year.

TTWO has been the subject of several analyst reports. Credit Suisse Group decreased their price objective on Take-Two Interactive Software to $190.00 and set a neutral rating for the company in a report on Tuesday, May 17th. Wells Fargo & Company cut their price objective on shares of Take-Two Interactive Software to $185.00 and set a na rating for the company in a research report on Wednesday, May 18th. Oppenheimer cut their price objective on shares of Take-Two Interactive Software from $215.00 to $190.00 and set a na rating for the company in a research report on Tuesday, May 17th. Bank of America initiated coverage on shares of Take-Two Interactive Software in a research report on Wednesday, April 6th. They set a buy rating for the company. Finally, Wedbush cut their price objective on shares of Take-Two Interactive Software from $180.00 to $145.00 in a research report on Tuesday, May 17th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Buy and an average target price of $184.27.

In other news, President Karl Slatoff sold 152,373 shares of the business’s stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $138.64, for a total transaction of $21,124,992.72. Following the completion of the sale, the president now directly owns 437,067 shares of the company’s stock, valued at $60,594,968.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of TTWO. Capital World Investors bought a new stake in Take-Two Interactive Software in the 1st quarter worth about $513,164,000. Vanguard Group Inc. grew its position in Take-Two Interactive Software by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 12,458,920 shares of the company’s stock worth $1,915,435,000 after purchasing an additional 118,028 shares in the last quarter. Gabelli Funds LLC grew its position in Take-Two Interactive Software by 175.3% in the 1st quarter. Gabelli Funds LLC now owns 171,117 shares of the company’s stock worth $26,308,000 after purchasing an additional 108,967 shares in the last quarter. Lazard Asset Management LLC grew its position in Take-Two Interactive Software by 130.5% in the 1st quarter. Lazard Asset Management LLC now owns 136,612 shares of the company’s stock worth $21,002,000 after purchasing an additional 77,356 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its position in Take-Two Interactive Software by 114.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 79,860 shares of the company’s stock worth $12,278,000 after purchasing an additional 42,660 shares in the last quarter. 88.08% of the stock is owned by institutional investors and hedge funds.

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.

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