Activision Blizzard, Inc. (NASDAQ:ATVI) to Post Q3 2022 Earnings of $0.44 Per Share, Wedbush Forecasts

Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) – Equities researchers at Wedbush raised their Q3 2022 EPS estimates for shares of Activision Blizzard in a research report issued on Tuesday, August 2nd. Wedbush analyst M. Pachter now anticipates that the company will post earnings per share of $0.44 for the quarter, up from their prior forecast of $0.42. The consensus estimate for Activision Blizzard’s current full-year earnings is $2.46 per share. Wedbush also issued estimates for Activision Blizzard’s Q4 2022 earnings at $1.22 EPS, FY2022 earnings at $2.31 EPS, Q1 2023 earnings at $0.59 EPS, Q2 2023 earnings at $0.58 EPS, Q4 2023 earnings at $1.41 EPS and FY2023 earnings at $3.58 EPS.

Activision Blizzard (NASDAQ:ATVI – Get Rating) last issued its quarterly earnings data on Monday, August 1st. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.09. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. The business had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same period last year, the company posted $0.86 EPS. The business’s revenue was down 14.6% on a year-over-year basis.

Other equities analysts have also recently issued reports about the stock. Moffett Nathanson raised shares of Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Activision Blizzard from $95.00 to $84.00 in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $95.00 price target on shares of Activision Blizzard in a research note on Wednesday, April 27th. Eighteen analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $94.73.

Activision Blizzard Stock Performance

Shares of NASDAQ:ATVI opened at $80.49 on Friday. Activision Blizzard has a 52 week low of $56.40 and a 52 week high of $86.90. The stock has a market capitalization of $62.97 billion, a P/E ratio of 33.54, a PEG ratio of 2.26 and a beta of 0.51. The firm has a fifty day simple moving average of $77.80 and a two-hundred day simple moving average of $78.88. The company has a quick ratio of 5.45, a current ratio of 6.18 and a debt-to-equity ratio of 0.20.

Insider Activity

In other news, CFO Armin Zerza sold 10,174 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total value of $816,158.28. Following the completion of the sale, the chief financial officer now owns 186,117 shares in the company, valued at approximately $14,930,305.74. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ATVI. Confluence Wealth Services Inc. bought a new position in shares of Activision Blizzard during the 4th quarter worth approximately $25,000. ACG Wealth bought a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $25,000. Joseph P. Lucia & Associates LLC bought a new position in shares of Activision Blizzard during the 2nd quarter worth approximately $25,000. MV Capital Management Inc. raised its stake in shares of Activision Blizzard by 275.5% during the 1st quarter. MV Capital Management Inc. now owns 353 shares of the company’s stock worth $28,000 after acquiring an additional 259 shares in the last quarter. Finally, Orion Capital Management LLC raised its stake in shares of Activision Blizzard by 75.7% during the 2nd quarter. Orion Capital Management LLC now owns 355 shares of the company’s stock worth $28,000 after acquiring an additional 153 shares in the last quarter. Institutional investors own 83.11% of the company’s stock.

Activision Blizzard Company Profile

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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.