Activision Blizzard (NASDAQ:ATVI) Announces Earnings Results, Beats Estimates By $0.14 EPS

Activision Blizzard (NASDAQ:ATVI) issued its quarterly earnings results on Thursday. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14, Morningstar.com reports. The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. Activision Blizzard had a return on equity of 16.19% and a net margin of 23.90%. Activision Blizzard’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share.

ATVI traded down $1.27 during trading hours on Friday, hitting $48.06. The company’s stock had a trading volume of 10,668,183 shares, compared to its average volume of 9,549,983. Activision Blizzard has a fifty-two week low of $39.85 and a fifty-two week high of $84.68. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $35.69 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.33 and a beta of 0.90. The business’s 50-day moving average is $47.24.

In other news, insider Christopher B. Walther sold 2,333 shares of Activision Blizzard stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $44.00, for a total transaction of $102,652.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Christopher B. Walther sold 5,333 shares of Activision Blizzard stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total value of $268,463.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,332 shares of company stock worth $1,021,187. 1.29% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of ATVI. Geode Capital Management LLC boosted its stake in shares of Activision Blizzard by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 9,116,102 shares of the company’s stock worth $423,741,000 after acquiring an additional 626,387 shares in the last quarter. Swedbank boosted its stake in shares of Activision Blizzard by 21.5% during the 1st quarter. Swedbank now owns 6,007,179 shares of the company’s stock worth $273,507,000 after acquiring an additional 1,063,547 shares in the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Activision Blizzard by 4.6% during the 1st quarter. Artisan Partners Limited Partnership now owns 5,063,920 shares of the company’s stock worth $230,560,000 after acquiring an additional 222,722 shares in the last quarter. Alecta Pensionsforsakring Omsesidigt boosted its stake in shares of Activision Blizzard by 10.0% during the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 4,950,000 shares of the company’s stock worth $233,640,000 after acquiring an additional 450,000 shares in the last quarter. Finally, Ruffer LLP bought a new stake in shares of Activision Blizzard during the 2nd quarter worth $160,765,000. Institutional investors own 86.58% of the company’s stock.

A number of research analysts recently commented on the company. Zacks Investment Research raised Activision Blizzard from a “sell” rating to a “hold” rating in a report on Thursday, May 9th. Bank of America reaffirmed a “buy” rating and set a $57.00 target price (up previously from $56.00) on shares of Activision Blizzard in a report on Friday. UBS Group reaffirmed a “buy” rating and set a $56.00 target price (up previously from $52.00) on shares of Activision Blizzard in a report on Friday. Goldman Sachs Group raised Activision Blizzard from a “neutral” rating to a “buy” rating and increased their target price for the stock from $50.00 to $54.00 in a report on Tuesday, May 28th. Finally, ValuEngine raised Activision Blizzard from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Eleven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Activision Blizzard presently has an average rating of “Buy” and an average target price of $60.03.

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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Earnings History for Activision Blizzard (NASDAQ:ATVI)

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