Activision Blizzard (NASDAQ:ATVI) Updates FY19 Earnings Guidance

Activision Blizzard (NASDAQ:ATVI) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $1.41 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.32. The company issued revenue guidance of $6.3 billion, compared to the consensus revenue estimate of $6.36 billion.Activision Blizzard also updated its FY 2019 guidance to $2.02-2.02 EPS.

Several analysts recently weighed in on ATVI shares. MKM Partners reaffirmed a neutral rating and issued a $47.00 target price (up previously from $45.00) on shares of Activision Blizzard in a report on Friday. BidaskClub raised shares of Activision Blizzard from a hold rating to a buy rating in a report on Thursday, August 1st. Citigroup started coverage on shares of Activision Blizzard in a report on Friday, June 7th. They issued a neutral rating and a $47.00 target price on the stock. Goldman Sachs Group raised shares of Activision Blizzard from a neutral rating to a buy rating and raised their target price for the company from $50.00 to $54.00 in a report on Tuesday, May 28th. Finally, Bank of America raised their target price on shares of Activision Blizzard from $56.00 to $57.00 and gave the company a buy rating in a report on Friday. Eleven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $60.03.

ATVI stock traded down $1.27 during midday trading on Friday, reaching $48.06. 10,668,183 shares of the company were exchanged, compared to its average volume of 6,126,563. The company has a current ratio of 2.63, a quick ratio of 2.61 and a debt-to-equity ratio of 0.23. Activision Blizzard has a 1-year low of $39.85 and a 1-year high of $84.68. The company’s 50-day moving average price is $47.29. The company has a market capitalization of $36.84 billion, a P/E ratio of 20.11, a price-to-earnings-growth ratio of 2.40 and a beta of 0.90.

Activision Blizzard (NASDAQ:ATVI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter last year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was down 12.9% on a year-over-year basis. As a group, sell-side analysts predict that Activision Blizzard will post 1.98 EPS for the current year.

In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were 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 SEC, which is available at this hyperlink. Also, insider Christopher B. Walther sold 11,333 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $47.91, for a total transaction of $542,964.03. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,332 shares of company stock worth $1,021,187. 1.29% of the stock is owned by corporate insiders.

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. 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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