Brokerages Anticipate Activision Blizzard, Inc. (ATVI) to Post $0.26 EPS

Wall Street brokerages expect that Activision Blizzard, Inc. (NASDAQ:ATVI) will report earnings per share (EPS) of $0.26 for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Activision Blizzard’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.39. Activision Blizzard posted earnings per share of $0.38 during the same quarter last year, which would indicate a negative year-over-year growth rate of 31.6%. The business is expected to announce its next earnings report after the market closes on Thursday, May 2nd.

According to Zacks, analysts expect that Activision Blizzard will report full-year earnings of $2.23 per share for the current fiscal year, with EPS estimates ranging from $2.11 to $2.40. For the next year, analysts forecast that the firm will report earnings of $2.60 per share, with EPS estimates ranging from $2.21 to $3.00. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Activision Blizzard.

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

ATVI has been the subject of several analyst reports. Jefferies Financial Group set a $60.00 price objective on Activision Blizzard and gave the company a “buy” rating in a report on Monday, January 14th. Barclays reiterated a “buy” rating and set a $59.00 price objective on shares of Activision Blizzard in a report on Sunday, January 13th. Benchmark decreased their price objective on Activision Blizzard from $93.00 to $87.00 and set a “buy” rating for the company in a report on Friday, January 11th. Stifel Nicolaus decreased their price objective on Activision Blizzard from $67.00 to $57.00 and set a “buy” rating for the company in a report on Monday, January 28th. Finally, Credit Suisse Group reiterated a “buy” rating and set a $70.00 price objective on shares of Activision Blizzard in a report on Monday, February 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and nineteen have issued a buy rating to the company. Activision Blizzard has an average rating of “Buy” and an average target price of $62.04.

Shares of ATVI traded up $0.33 during midday trading on Friday, hitting $45.31. 4,582,313 shares of the company’s stock traded hands, compared to its average volume of 12,080,990. Activision Blizzard has a 1 year low of $39.85 and a 1 year high of $84.68. The company has a current ratio of 2.31, a quick ratio of 2.29 and a debt-to-equity ratio of 0.24. The firm has a market cap of $34.61 billion, a PE ratio of 18.96, a P/E/G ratio of 2.29 and a beta of 0.83.

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

In related news, Director Robert J. Morgado sold 15,000 shares of Activision Blizzard stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.91, for a total value of $643,650.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.29% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Steinberg Global Asset Management raised its position in shares of Activision Blizzard by 8.8% during the 4th quarter. Steinberg Global Asset Management now owns 37,210 shares of the company’s stock valued at $1,733,000 after buying an additional 3,008 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of Activision Blizzard during the fourth quarter worth $4,634,000. Probity Advisors Inc. acquired a new position in shares of Activision Blizzard during the fourth quarter worth $362,000. Financial Enhancement Group LLC acquired a new position in shares of Activision Blizzard during the third quarter worth $575,000. Finally, Maplelane Capital LLC acquired a new position in shares of Activision Blizzard during the fourth quarter worth $11,550,000. Institutional investors own 89.05% of the company’s stock.

Activision Blizzard Company Profile

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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