Analysts expect Activision Blizzard, Inc. (NASDAQ:ATVI) to report $1.33 billion in sales for the current quarter, according to Zacks. Eight analysts have issued estimates for Activision Blizzard’s earnings, with the lowest sales estimate coming in at $1.28 billion and the highest estimate coming in at $1.40 billion. Activision Blizzard posted sales of $1.20 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 10.8%. The business is scheduled to announce its next earnings report on Thursday, May 3rd.
On average, analysts expect that Activision Blizzard will report full-year sales of $1.33 billion for the current year, with estimates ranging from $7.44 billion to $7.76 billion. For the next fiscal year, analysts anticipate that the company will post sales of $8.09 billion per share, with estimates ranging from $7.89 billion to $8.30 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last posted its earnings results on Thursday, February 8th. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.02. The firm had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Activision Blizzard had a return on equity of 17.48% and a net margin of 3.89%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.65 earnings per share.
In related news, CEO Riccardo Zacconi sold 19,761 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $70.99, for a total transaction of $1,402,833.39. Following the transaction, the chief executive officer now owns 34,398 shares of the company’s stock, valued at $2,441,914.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Stephen G. Wereb sold 120,521 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $72.38, for a total value of $8,723,309.98. Following the transaction, the insider now directly owns 48,511 shares in the company, valued at approximately $3,511,226.18. The disclosure for this sale can be found here. Insiders have sold 2,701,258 shares of company stock worth $191,727,094 in the last ninety days. 2.12% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its holdings in Activision Blizzard by 94.4% during the third quarter. Oppenheimer & Co. Inc. now owns 66,349 shares of the company’s stock worth $4,280,000 after acquiring an additional 32,224 shares during the period. Carmignac Gestion grew its holdings in Activision Blizzard by 0.5% during the third quarter. Carmignac Gestion now owns 5,920,188 shares of the company’s stock worth $381,911,000 after acquiring an additional 26,761 shares during the period. Pacer Advisors Inc. grew its holdings in Activision Blizzard by 13.7% during the third quarter. Pacer Advisors Inc. now owns 28,080 shares of the company’s stock worth $1,811,000 after acquiring an additional 3,391 shares during the period. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Activision Blizzard during the fourth quarter worth $1,171,000. Finally, Fox Run Management L.L.C. acquired a new position in Activision Blizzard during the fourth quarter worth $731,000. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Activision Blizzard (NASDAQ:ATVI) opened at $71.68 on Friday. The firm has a market capitalization of $54,378.74, a P/E ratio of 199.11, a P/E/G ratio of 1.91 and a beta of 1.10. Activision Blizzard has a 52 week low of $47.80 and a 52 week high of $79.63. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.77 and a current ratio of 1.78.
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About Activision Blizzard
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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