Zacks: Brokerages Anticipate TAKE-TWO INTERACTIVE SOFTWARE, INC (NASDAQ:TTWO) Will Announce Earnings of $1.44 Per Share

Brokerages forecast that TAKE-TWO INTERACTIVE SOFTWARE, INC (NASDAQ:TTWO) will announce earnings of $1.44 per share for the current fiscal quarter, Zacks Investment Research reports. Eighteen analysts have provided estimates for TAKE-TWO INTERACTIVE SOFTWARE’s earnings. The highest EPS estimate is $1.75 and the lowest is $1.28. TAKE-TWO INTERACTIVE SOFTWARE reported earnings per share of $1.89 during the same quarter last year, which would suggest a negative year-over-year growth rate of 23.8%. The company is expected to issue its next quarterly earnings report on Thursday, November 5th.

According to Zacks, analysts expect that TAKE-TWO INTERACTIVE SOFTWARE will report full-year earnings of $4.68 per share for the current year, with EPS estimates ranging from $4.21 to $5.76. For the next year, analysts anticipate that the business will report earnings of $5.38 per share, with EPS estimates ranging from $3.25 to $6.55. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover TAKE-TWO INTERACTIVE SOFTWARE.

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.77 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.45). The company had revenue of $996.20 million for the quarter, compared to the consensus estimate of $845.44 million. TAKE-TWO INTERACTIVE SOFTWARE had a net margin of 13.22% and a return on equity of 28.26%. The firm’s revenue for the quarter was up 125.3% on a year-over-year basis. During the same quarter last year, the company earned $0.27 EPS.

A number of research analysts recently weighed in on the stock. Robert W. Baird increased their price objective on shares of TAKE-TWO INTERACTIVE SOFTWARE from $150.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, August 4th. Morgan Stanley increased their price target on shares of TAKE-TWO INTERACTIVE SOFTWARE from $160.00 to $176.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Goldman Sachs Group increased their price target on shares of TAKE-TWO INTERACTIVE SOFTWARE from $178.00 to $199.00 and gave the stock a “buy” rating in a research report on Tuesday, August 4th. BofA Securities downgraded shares of TAKE-TWO INTERACTIVE SOFTWARE from a “neutral” rating to an “underperform” rating and increased their price target for the stock from $155.00 to $166.00 in a research report on Tuesday, August 4th. Finally, Deutsche Bank increased their price target on shares of TAKE-TWO INTERACTIVE SOFTWARE from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the company’s stock. TAKE-TWO INTERACTIVE SOFTWARE has a consensus rating of “Buy” and an average target price of $161.54.

In other TAKE-TWO INTERACTIVE SOFTWARE news, CEO Strauss Zelnick sold 35,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $173.58, for a total transaction of $6,075,300.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Michael Sheresky sold 216 shares of the company’s stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $173.26, for a total value of $37,424.16. Following the sale, the director now owns 60,825 shares in the company, valued at $10,538,539.50. The disclosure for this sale can be found here. Insiders sold 135,858 shares of company stock worth $20,736,546 over the last quarter. 1.09% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of TTWO. Glassman Wealth Services raised its holdings in shares of TAKE-TWO INTERACTIVE SOFTWARE by 727.3% in the second quarter. Glassman Wealth Services now owns 182 shares of the company’s stock worth $25,000 after buying an additional 160 shares during the period. BDO Wealth Advisors LLC raised its holdings in shares of TAKE-TWO INTERACTIVE SOFTWARE by 666.7% in the first quarter. BDO Wealth Advisors LLC now owns 230 shares of the company’s stock worth $27,000 after buying an additional 200 shares during the period. Ameritas Investment Company LLC purchased a new stake in shares of TAKE-TWO INTERACTIVE SOFTWARE in the first quarter worth approximately $30,000. Heritage Wealth Advisors raised its holdings in shares of TAKE-TWO INTERACTIVE SOFTWARE by 4,506.3% in the second quarter. Heritage Wealth Advisors now owns 10,180 shares of the company’s stock worth $30,000 after buying an additional 9,959 shares during the period. Finally, Ellevest Inc. raised its holdings in shares of TAKE-TWO INTERACTIVE SOFTWARE by 49.3% in the second quarter. Ellevest Inc. now owns 224 shares of the company’s stock worth $31,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 93.08% of the company’s stock.

TAKE-TWO INTERACTIVE SOFTWARE stock traded down $2.01 during midday trading on Friday, reaching $164.21. 16,336 shares of the company traded hands, compared to its average volume of 1,989,150. The firm has a market capitalization of $19.01 billion, a price-to-earnings ratio of 42.62, a price-to-earnings-growth ratio of 5.05 and a beta of 0.56. The business has a 50 day moving average of $167.45 and a two-hundred day moving average of $140.84. TAKE-TWO INTERACTIVE SOFTWARE has a 12 month low of $100.00 and a 12 month high of $180.61.

About TAKE-TWO INTERACTIVE SOFTWARE

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; and offers downloadable episodes, content and virtual currency, and releasing titles for smartphones and tablets.

Featured Story: How does a 12b-1 fee affect fund performance?

Get a free copy of the Zacks research report on TAKE-TWO INTERACTIVE SOFTWARE (TTWO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO)

Receive News & Ratings for TAKE-TWO INTERACTIVE SOFTWARE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TAKE-TWO INTERACTIVE SOFTWARE and related companies with MarketBeat.com's FREE daily email newsletter.