Activision Blizzard (NASDAQ:ATVI) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.20-0.20 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.40. The company issued revenue guidance of $1.105-1.105 billion, compared to the consensus revenue estimate of $1.36 billion.Activision Blizzard also updated its FY 2019 guidance to $2.02-2.02 EPS.

Activision Blizzard stock traded down $1.27 during mid-day trading on Friday, hitting $48.06. 10,668,183 shares of the company’s stock were exchanged, compared to its average volume of 6,313,044. The firm has a market capitalization of $37.79 billion, a price-to-earnings ratio of 20.11, a P/E/G ratio of 2.47 and a beta of 0.90. Activision Blizzard has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23. The company has a 50 day moving average price of $47.29.

Activision Blizzard (NASDAQ:ATVI) last released its earnings results on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.14. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Activision Blizzard had a return on equity of 15.81% and a net margin of 23.69%. The company’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, sell-side analysts anticipate that Activision Blizzard will post 1.98 earnings per share for the current fiscal year.

ATVI has been the subject of a number of research reports. ValuEngine upgraded Activision Blizzard from a hold rating to a buy rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on Activision Blizzard in a report on Thursday, July 11th. They set a buy rating and a $56.00 target price for the company. UBS Group reiterated a buy rating and set a $56.00 target price (up previously from $52.00) on shares of Activision Blizzard in a report on Friday. Piper Jaffray Companies reiterated an overweight rating and set a $55.00 target price (up previously from $52.00) on shares of Activision Blizzard in a report on Friday. Finally, Credit Suisse Group lowered their target price on Activision Blizzard from $65.00 to $64.00 and set an outperform rating for the company in a report on Thursday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $60.03.

In related news, insider Christopher B. Walther sold 2,333 shares of Activision Blizzard stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total transaction of $102,652.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $50.34, for a total value of $268,463.22. The disclosure for this sale can be found here. Insiders sold a total of 21,332 shares of company stock valued at $1,021,187 in the last 90 days. 1.29% of the stock is owned by corporate insiders.

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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Earnings History and Estimates for Activision Blizzard (NASDAQ:ATVI)

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