Activision Blizzard (NASDAQ:ATVI) Releases Q3 2019 Earnings Guidance

Activision Blizzard (NASDAQ:ATVI) issued an update on its third quarter 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.20-0.20 for the period, compared to the Thomson Reuters consensus estimate of $0.40. The company issued revenue guidance of $1.105-1.105 billion, compared to the consensus revenue estimate of $1.36 billion.Activision Blizzard also updated its FY 2019 guidance to $2.02-2.02 EPS.

A number of research firms recently commented on ATVI. BidaskClub raised shares of Activision Blizzard from a hold rating to a buy rating in a research report on Thursday, August 1st. Goldman Sachs Group raised shares of Activision Blizzard from a neutral rating to a buy rating and raised their price target for the stock from $50.00 to $54.00 in a research report on Tuesday, May 28th. ValuEngine raised shares of Activision Blizzard from a hold rating to a buy rating in a research report on Thursday, August 1st. Bank of America raised their price target on shares of Activision Blizzard from $56.00 to $57.00 and gave the stock a buy rating in a research report on Friday. Finally, Morgan Stanley reaffirmed an overweight rating and set a $57.00 price target (up from $55.00) on shares of Activision Blizzard in a research report on Friday. Eleven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Activision Blizzard currently has an average rating of Buy and an average target price of $60.03.

Activision Blizzard stock traded down $1.27 during trading hours on Friday, reaching $48.06. 10,668,183 shares of the stock were exchanged, compared to its average volume of 6,313,044. The company has a market cap of $37.79 billion, a P/E ratio of 20.11, a P/E/G ratio of 2.47 and a beta of 0.90. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.61 and a current ratio of 2.63. Activision Blizzard has a twelve month low of $39.85 and a twelve month high of $84.68. The stock has a 50 day moving average price of $47.29.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Activision Blizzard had a net margin of 23.69% and a return on equity of 15.81%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. On average, sell-side analysts predict that Activision Blizzard will post 1.98 earnings per share for the current year.

In other news, insider Christopher B. Walther sold 2,333 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $44.00, for a total value of $102,652.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $50.34, for a total transaction of $268,463.22. The disclosure for this sale can be found here. Insiders have sold 21,332 shares of company stock worth $1,021,187 over the last quarter. Corporate insiders own 1.29% of the company’s stock.

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.

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Earnings History and Estimates for Activision Blizzard (NASDAQ:ATVI)

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