Activision Blizzard (NASDAQ:ATVI) updated its fourth quarter 2018 earnings guidance on Thursday. The company provided earnings per share guidance of $1.27-1.27 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.34. Activision Blizzard also updated its FY 2018 guidance to $2.58-2.58 EPS.
A number of analysts recently issued reports on the company. UBS Group lowered their target price on Activision Blizzard from $88.00 to $70.00 and set a buy rating on the stock in a research report on Friday. Morgan Stanley lowered their target price on Activision Blizzard from $80.00 to $72.00 and set a positive rating on the stock in a research report on Friday. KeyCorp reaffirmed an overweight rating and issued a $80.00 target price (down previously from $85.00) on shares of Activision Blizzard in a research report on Friday. Barclays set a $78.00 target price on Activision Blizzard and gave the company a buy rating in a research report on Friday. Finally, Bank of America lowered their target price on Activision Blizzard from $77.00 to $68.00 and set a neutral rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $78.03.
NASDAQ ATVI traded down $8.01 during trading on Friday, reaching $54.78. 1,947,927 shares of the company’s stock were exchanged, compared to its average volume of 9,402,754. The company has a market cap of $48.98 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42. Activision Blizzard has a fifty-two week low of $57.29 and a fifty-two week high of $84.68.
In other news, CEO Riccardo Zacconi sold 19,761 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the sale, the chief executive officer now owns 20,324 shares in the company, valued at $1,396,258.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 1.29% of the stock is owned by insiders.
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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. 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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