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.
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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