$1.24 Billion in Sales Expected for Activision Blizzard, Inc. (ATVI) This Quarter

Brokerages expect Activision Blizzard, Inc. (NASDAQ:ATVI) to post $1.24 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Activision Blizzard’s earnings, with estimates ranging from $1.19 billion to $1.41 billion. Activision Blizzard posted sales of $1.38 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 10.1%. The firm is expected to announce its next quarterly earnings results on Thursday, May 2nd.

On average, analysts expect that Activision Blizzard will report full-year sales of $6.49 billion for the current year, with estimates ranging from $6.33 billion to $6.74 billion. For the next fiscal year, analysts forecast that the firm will report sales of $7.23 billion, with estimates ranging from $6.70 billion to $7.76 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.08. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.04 billion. Activision Blizzard had a return on equity of 17.55% and a net margin of 24.16%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the company earned $0.94 EPS.

A number of brokerages recently issued reports on ATVI. Piper Jaffray Companies decreased their price target on Activision Blizzard to $55.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. KeyCorp decreased their price target on Activision Blizzard from $80.00 to $64.00 and set an “overweight” rating for the company in a research note on Friday, January 11th. Benchmark decreased their price target on Activision Blizzard from $93.00 to $87.00 and set a “buy” rating for the company in a research note on Friday, January 11th. Stephens began coverage on Activision Blizzard in a research note on Thursday, January 10th. They set an “overweight” rating and a $65.00 price target for the company. Finally, BidaskClub raised Activision Blizzard from a “sell” rating to a “hold” rating in a research note on Thursday, January 10th. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $61.89.

In other Activision Blizzard news, Director Robert J. Morgado sold 15,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total transaction of $643,650.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First National Bank of Hutchinson increased its holdings in shares of Activision Blizzard by 2.2% in the 4th quarter. First National Bank of Hutchinson now owns 10,979 shares of the company’s stock valued at $511,000 after acquiring an additional 240 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of Activision Blizzard by 1.2% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 22,179 shares of the company’s stock valued at $1,033,000 after acquiring an additional 260 shares during the period. Cornerstone Advisors Inc. increased its holdings in shares of Activision Blizzard by 17.5% in the 4th quarter. Cornerstone Advisors Inc. now owns 1,775 shares of the company’s stock valued at $83,000 after acquiring an additional 265 shares during the period. Kaizen Advisory LLC increased its holdings in shares of Activision Blizzard by 15.3% in the 4th quarter. Kaizen Advisory LLC now owns 2,163 shares of the company’s stock valued at $101,000 after acquiring an additional 287 shares during the period. Finally, Sigma Planning Corp increased its holdings in shares of Activision Blizzard by 7.2% in the 4th quarter. Sigma Planning Corp now owns 4,802 shares of the company’s stock valued at $224,000 after acquiring an additional 321 shares during the period. Institutional investors own 88.98% of the company’s stock.

Shares of NASDAQ:ATVI traded down $0.09 during trading on Friday, hitting $45.53. The company had a trading volume of 6,643,644 shares, compared to its average volume of 13,327,011. The firm has a market capitalization of $34.77 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.28 and a beta of 0.82. Activision Blizzard has a one year low of $39.85 and a one year high of $84.68. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.31 and a quick ratio of 2.29.

The company also recently disclosed an annual dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.37 per share. This is an increase from Activision Blizzard’s previous annual dividend of $0.34. This represents a yield of 0.83%. The ex-dividend date of this dividend is Wednesday, March 27th. Activision Blizzard’s dividend payout ratio (DPR) is presently 15.48%.

About Activision Blizzard

Activision Blizzard, Inc develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. The company operates through three segments: Activision Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment. The company develops, publishes, and sells interactive software products and entertainment content for the console and PC platforms through retail and digital channels, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies; and offers downloadable content.

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