Activision Blizzard (NASDAQ:ATVI) posted its quarterly earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.09, Fidelity Earnings reports. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.15 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.54%. The firm’s revenue for the quarter was down 27.1% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. Activision Blizzard updated its Q4 guidance to $0.29 EPS.
Shares of ATVI stock traded down $0.25 during trading hours on Friday, hitting $54.30. 15,898,300 shares of the company’s stock traded hands, compared to its average volume of 8,976,302. The company has a quick ratio of 3.43, a current ratio of 3.46 and a debt-to-equity ratio of 0.22. The stock has a market cap of $42.60 billion, a PE ratio of 22.72, a price-to-earnings-growth ratio of 2.14 and a beta of 0.87. The stock’s 50 day simple moving average is $54.65 and its 200 day simple moving average is $49.30. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $57.52.
ATVI has been the subject of several research reports. KeyCorp reissued an “overweight” rating and issued a $60.00 price objective on shares of Activision Blizzard in a research note on Tuesday, July 30th. SunTrust Banks increased their price objective on shares of Activision Blizzard from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 11th. BMO Capital Markets increased their price objective on shares of Activision Blizzard from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. BidaskClub downgraded shares of Activision Blizzard from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Activision Blizzard from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the company. Activision Blizzard presently has a consensus rating of “Buy” and an average price target of $60.38.
In other news, insider Brian M. Stolz sold 134,845 shares of Activision Blizzard stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $47.80, for a total transaction of $6,445,591.00. Following the completion of the transaction, the insider now directly owns 58,563 shares in the company, valued at $2,799,311.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $50.83, for a total transaction of $271,076.39. The disclosure for this sale can be found here. Insiders sold 145,511 shares of company stock valued at $6,997,557 over the last 90 days. Corporate insiders own 1.29% 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. 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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