Brokerages forecast that Activision Blizzard, Inc. (NASDAQ:ATVI) will post sales of $1.20 billion for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Activision Blizzard’s earnings, with the lowest sales estimate coming in at $1.15 billion and the highest estimate coming in at $1.24 billion. Activision Blizzard reported sales of $1.39 billion in the same quarter last year, which would suggest a negative year over year growth rate of 13.7%. The business is expected to announce its next quarterly earnings report on Thursday, August 1st.
According to Zacks, analysts expect that Activision Blizzard will report full year sales of $6.44 billion for the current financial year, with estimates ranging from $6.31 billion to $6.74 billion. For the next financial year, analysts anticipate that the business will post sales of $7.13 billion, with estimates ranging from $6.69 billion to $7.76 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Activision Blizzard.
Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.13. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. Activision Blizzard’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS.
NASDAQ ATVI traded down $2.61 during trading hours on Monday, reaching $43.41. The company’s stock had a trading volume of 8,371,775 shares, compared to its average volume of 11,521,159. The stock has a market capitalization of $35.73 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 2.31 and a beta of 0.83. 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 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.23.
The firm also recently declared an annual dividend, which was paid on Thursday, May 9th. Investors of record on Thursday, March 28th were given a dividend of $0.37 per share. 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 of this dividend was Wednesday, March 27th. Activision Blizzard’s dividend payout ratio is 15.48%.
In other Activision Blizzard news, Director Robert J. Morgado sold 15,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total value of $643,650.00. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.29% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acorn Advisory Capital L.P. bought a new position in shares of Activision Blizzard in the first quarter valued at approximately $724,000. Trexquant Investment LP acquired a new stake in Activision Blizzard during the first quarter valued at approximately $1,477,000. Lazard Asset Management LLC lifted its stake in Activision Blizzard by 543.4% during the first quarter. Lazard Asset Management LLC now owns 2,116,010 shares of the company’s stock valued at $96,341,000 after purchasing an additional 1,787,120 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its position in shares of Activision Blizzard by 83.0% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 1,885 shares of the company’s stock valued at $86,000 after acquiring an additional 855 shares in the last quarter. Finally, Ascent Wealth Partners LLC lifted its position in shares of Activision Blizzard by 19.3% in the 1st quarter. Ascent Wealth Partners LLC now owns 12,026 shares of the company’s stock valued at $547,000 after acquiring an additional 1,945 shares in the last quarter. Hedge funds and other institutional investors own 88.73% of the company’s stock.
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. It 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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