Activision Blizzard, Inc. (NASDAQ:ATVI) Expected to Announce Quarterly Sales of $1.75 Billion


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Wall Street analysts expect Activision Blizzard, Inc. (NASDAQ:ATVI) to announce sales of $1.75 billion for the current quarter, Zacks reports. Nine analysts have provided estimates for Activision Blizzard’s earnings. The highest sales estimate is $1.80 billion and the lowest is $1.56 billion. Activision Blizzard posted sales of $1.52 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 15.1%. The firm is expected to report its next earnings report after the market closes on Tuesday, May 4th.

On average, analysts expect that Activision Blizzard will report full-year sales of $8.54 billion for the current fiscal year, with estimates ranging from $8.45 billion to $8.76 billion. For the next fiscal year, analysts anticipate that the business will post sales of $9.57 billion, with estimates ranging from $9.00 billion to $10.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last issued its quarterly earnings results on Wednesday, February 3rd. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $1.18 by $0.03. Activision Blizzard had a net margin of 28.90% and a return on equity of 19.07%. The company had revenue of $3.05 billion during the quarter, compared to analysts’ expectations of $2.84 billion. During the same quarter in the previous year, the company earned $1.23 EPS.

A number of research analysts recently issued reports on ATVI shares. BMO Capital Markets boosted their price objective on shares of Activision Blizzard from $80.00 to $104.00 and gave the company a “market perform” rating in a report on Tuesday, February 9th. MKM Partners lifted their price target on shares of Activision Blizzard from $100.00 to $105.00 in a research note on Thursday, January 14th. Raymond James reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Monday, February 22nd. KeyCorp boosted their price objective on shares of Activision Blizzard from $102.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, February 5th. Finally, Oppenheimer reissued a “buy” rating and issued a $110.00 price objective on shares of Activision Blizzard in a research report on Friday, February 5th. Four investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $103.50.

Shares of NASDAQ ATVI opened at $88.69 on Wednesday. The stock has a market cap of $68.71 billion, a P/E ratio of 31.01, a P/E/G ratio of 1.72 and a beta of 0.71. The firm has a 50 day moving average price of $93.73 and a 200 day moving average price of $89.48. The company has a debt-to-equity ratio of 0.25, a quick ratio of 4.12 and a current ratio of 4.12. Activision Blizzard has a 52-week low of $66.59 and a 52-week high of $104.53.

The firm also recently disclosed an annual dividend, which will be paid on Thursday, May 6th. Stockholders of record on Thursday, April 15th will be paid a $0.47 dividend. This is a boost from Activision Blizzard’s previous annual dividend of $0.41. The ex-dividend date of this dividend is Wednesday, April 14th. This represents a dividend yield of 0.46%. Activision Blizzard’s dividend payout ratio is 22.60%.

In related news, COO Daniel Alegre sold 18,500 shares of the company’s stock in a transaction on Wednesday, February 24th. The shares were sold at an average price of $95.74, for a total transaction of $1,771,190.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Christopher B. Walther sold 45,030 shares of the company’s stock in a transaction on Monday, March 15th. The shares were sold at an average price of $91.98, for a total transaction of $4,141,859.40. The disclosure for this sale can be found here. 1.13% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. raised its holdings in Activision Blizzard by 6.9% in the 4th quarter. BlackRock Inc. now owns 58,457,312 shares of the company’s stock worth $5,427,763,000 after purchasing an additional 3,760,947 shares in the last quarter. Public Investment Fund purchased a new stake in shares of Activision Blizzard in the 4th quarter worth about $1,389,418,000. Morgan Stanley grew its position in shares of Activision Blizzard by 20.4% in the 4th quarter. Morgan Stanley now owns 10,226,604 shares of the company’s stock worth $949,541,000 after buying an additional 1,734,206 shares during the period. Artisan Partners Limited Partnership grew its position in shares of Activision Blizzard by 30.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 9,996,095 shares of the company’s stock worth $928,137,000 after buying an additional 2,328,522 shares during the period. Finally, Norges Bank purchased a new stake in shares of Activision Blizzard in the 4th quarter worth about $806,508,000. Institutional investors own 85.77% of the company’s stock.

Activision Blizzard Company Profile

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 Publishing, Inc; Blizzard Entertainment, Inc; and King Digital Entertainment.

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