Activision Blizzard (ATVI) Releases FY 2018 Earnings Guidance

Activision Blizzard (NASDAQ:ATVI) updated its FY 2018 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.58-2.58 for the period, compared to the Thomson Reuters consensus estimate of $2.64. The company issued revenue guidance of $7.475-7.475 billion, compared to the consensus revenue estimate of $7.48 billion.Activision Blizzard also updated its Q4 guidance to $0.43 EPS.

A number of equities analysts have recently commented on ATVI shares. Piper Jaffray Companies reissued an overweight rating and issued a $74.00 price target on shares of Activision Blizzard in a research report on Friday. UBS Group dropped their price target on shares of Activision Blizzard from $88.00 to $70.00 and set a buy rating on the stock in a research report on Friday. Bank of America dropped their price target on shares of Activision Blizzard from $77.00 to $68.00 and set a neutral rating on the stock in a research report on Friday. Sanford C. Bernstein dropped their price target on shares of Activision Blizzard from $72.00 to $62.00 and set a market perform rating on the stock in a research report on Friday. Finally, Credit Suisse Group dropped their price target on shares of Activision Blizzard from $85.00 to $79.00 and set an outperform rating on the stock in a research report on Friday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $78.03.

Shares of Activision Blizzard stock traded down $7.78 during midday trading on Friday, hitting $55.01. The company had a trading volume of 34,472,699 shares, compared to its average volume of 9,402,754. The company has a market cap of $48.98 billion, a price-to-earnings ratio of 26.83, a PEG ratio of 1.71 and a beta of 1.11. The company has a current ratio of 2.98, a quick ratio of 2.96 and a debt-to-equity ratio of 0.42. Activision Blizzard has a 1-year low of $57.29 and a 1-year high of $84.68.

Activision Blizzard (NASDAQ:ATVI) last posted its quarterly earnings results on Thursday, November 8th. The company reported $0.47 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.03). Activision Blizzard had a return on equity of 16.39% and a net margin of 6.96%. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. As a group, research analysts forecast that Activision Blizzard will post 2.49 earnings per share for the current fiscal year.

In other Activision Blizzard news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Monday, August 20th. The shares were sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the sale, the chief executive officer now owns 20,324 shares in the company, valued at $1,396,258.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.29% of the stock is owned by insiders.

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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. The company 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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