Activision Blizzard, Inc. (NASDAQ:ATVI) – Equities research analysts at KeyCorp raised their FY2020 earnings per share estimates for Activision Blizzard in a note issued to investors on Tuesday, December 10th, according to Zacks Investment Research. KeyCorp analyst T. Parker now expects that the company will post earnings per share of $2.33 for the year, up from their previous estimate of $2.28.
ATVI has been the subject of several other research reports. Argus restated a “focus list” rating on shares of Activision Blizzard in a research note on Friday, November 15th. Bank of America set a $62.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research note on Friday, October 18th. Zacks Investment Research cut shares of Activision Blizzard from a “buy” rating to a “hold” rating and set a $60.00 target price for the company. in a research note on Tuesday, November 12th. Sanford C. Bernstein cut shares of Activision Blizzard from a “market perform” rating to an “underperform” rating and raised their target price for the stock from $41.00 to $43.00 in a research note on Wednesday, October 2nd. Finally, Piper Jaffray Companies set a $62.00 target price on shares of Activision Blizzard and gave the stock a “buy” rating in a research note on Friday, October 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Activision Blizzard has a consensus rating of “Buy” and an average price target of $60.36.
Activision Blizzard stock traded up $0.02 during midday trading on Thursday, hitting $58.67. 4,466,831 shares of the company’s stock were exchanged, compared to its average volume of 4,348,255. Activision Blizzard has a 12-month low of $39.85 and a 12-month high of $60.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.38 and a current ratio of 3.43. The stock has a market cap of $45.06 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.93 and a beta of 0.83. The firm’s 50 day simple moving average is $56.40 and its 200 day simple moving average is $52.23.
Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.09. Activision Blizzard had a net margin of 23.66% and a return on equity of 13.91%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the prior year, the company earned $0.52 EPS. Activision Blizzard’s revenue was down 27.1% compared to the same quarter last year.
Hedge funds have recently modified their holdings of the stock. B & T Capital Management DBA Alpha Capital Management bought a new position in Activision Blizzard in the third quarter worth $28,000. Massey Quick Simon & CO. LLC bought a new position in Activision Blizzard in the third quarter worth $29,000. Capital Investment Advisory Services LLC lifted its position in Activision Blizzard by 189.5% in the second quarter. Capital Investment Advisory Services LLC now owns 553 shares of the company’s stock worth $25,000 after purchasing an additional 362 shares during the period. Redhawk Wealth Advisors Inc. bought a new position in Activision Blizzard in the second quarter worth $29,000. Finally, Quantum Capital Management bought a new position in Activision Blizzard in the third quarter worth $33,000. 88.56% of the stock is owned by hedge funds and other institutional investors.
In related news, COO Collister Johnson sold 3,800 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $52.43, for a total value of $199,234.00. Following the completion of the transaction, the chief operating officer now directly owns 280,983 shares of the company’s stock, valued at $14,731,938.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.29% of the stock is owned by company 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.