Wall Street brokerages forecast that Activision Blizzard, Inc (NASDAQ:ATVI) will announce sales of $2.52 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Activision Blizzard’s earnings, with estimates ranging from $2.34 billion to $2.70 billion. Activision Blizzard posted sales of $2.45 billion in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The business is expected to report its next earnings results on Thursday, February 8th.
On average, analysts expect that Activision Blizzard will report full-year sales of $2.52 billion for the current financial year, with estimates ranging from $6.85 billion to $7.22 billion. For the next financial year, analysts expect that the firm will post sales of $7.46 billion per share, with estimates ranging from $7.17 billion to $7.86 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Activision Blizzard.
A number of equities research analysts have recently weighed in on ATVI shares. Stifel Nicolaus reaffirmed a “buy” rating on shares of Activision Blizzard in a research note on Sunday, September 10th. Wedbush set a $75.00 price target on Activision Blizzard and gave the stock a “buy” rating in a research note on Thursday, October 26th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $69.00 price target on shares of Activision Blizzard in a research note on Friday, September 8th. Vetr raised Activision Blizzard from a “hold” rating to a “buy” rating and set a $64.58 price target for the company in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised Activision Blizzard from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective on the stock in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $68.68.
In related news, CEO Riccardo Zacconi sold 19,761 shares of Activision Blizzard stock in a transaction on Friday, November 17th. The stock was sold at an average price of $63.64, for a total transaction of $1,257,590.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.12% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. grew its stake in shares of Activision Blizzard by 321.5% during the third quarter. Cornerstone Advisors Inc. now owns 1,547 shares of the company’s stock worth $100,000 after purchasing an additional 1,180 shares during the period. Grove Bank & Trust grew its stake in shares of Activision Blizzard by 261.7% during the third quarter. Grove Bank & Trust now owns 2,170 shares of the company’s stock worth $140,000 after purchasing an additional 1,570 shares during the period. Shine Investment Advisory Services Inc. acquired a new stake in shares of Activision Blizzard during the second quarter worth $142,000. Huntington National Bank grew its stake in shares of Activision Blizzard by 122.6% during the second quarter. Huntington National Bank now owns 2,480 shares of the company’s stock worth $143,000 after purchasing an additional 1,366 shares during the period. Finally, Bronfman E.L. Rothschild L.P. grew its stake in shares of Activision Blizzard by 16.2% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,606 shares of the company’s stock worth $150,000 after purchasing an additional 363 shares during the period. 84.23% of the stock is owned by institutional investors and hedge funds.
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Activision Blizzard Company Profile
Activision Blizzard, Inc is a developer and publisher of interactive entertainment content and services. The Company develops and distributes content and services across various gaming platforms, including video game consoles, personal computers (PC) and mobile devices. Its segments include Activision Publishing, Inc (Activision), Blizzard Entertainment, Inc (Blizzard), King Digital Entertainment (King) and Other.
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