Zacks: Analysts Expect Activision (ATVI) Will Announce Quarterly Sales of $1.42 Billion

Brokerages expect Activision (NASDAQ:ATVI) to post $1.42 billion in sales for the current quarter, Zacks Investment Research reports. Ten analysts have provided estimates for Activision’s earnings. The highest sales estimate is $1.52 billion and the lowest is $1.35 billion. Activision also reported sales of $1.42 billion in the same quarter last year. The firm is scheduled to announce its next earnings results on Thursday, August 2nd.

On average, analysts expect that Activision will report full year sales of $7.54 billion for the current year, with estimates ranging from $7.48 billion to $7.70 billion. For the next year, analysts expect that the firm will report sales of $8.01 billion per share, with estimates ranging from $7.89 billion to $8.20 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Activision.

Activision (NASDAQ:ATVI) last announced its quarterly earnings results on Thursday, May 3rd. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.32 billion. Activision had a return on equity of 17.91% and a net margin of 4.78%. The firm’s revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.56 earnings per share.



Several brokerages have recently issued reports on ATVI. Vetr cut Activision from a “strong-buy” rating to a “buy” rating and set a $83.48 price objective for the company. in a research note on Monday, March 12th. Citigroup reissued a “positive” rating and issued a $87.00 price objective (up from $78.00) on shares of Activision in a report on Monday, March 12th. Zacks Investment Research raised Activision from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Tuesday, March 13th. Stifel Nicolaus reissued a “buy” rating and issued a $77.00 price objective on shares of Activision in a report on Thursday, February 1st. Finally, BidaskClub raised Activision from a “buy” rating to a “strong-buy” rating in a report on Thursday, March 1st. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Activision has a consensus rating of “Buy” and an average target price of $75.41.

In other news, insider Dennis M. Durkin sold 21,488 shares of Activision stock in a transaction on Monday, March 12th. The stock was sold at an average price of $77.18, for a total value of $1,658,443.84. Following the completion of the sale, the insider now directly owns 151,314 shares of the company’s stock, valued at $11,678,414.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dennis M. Durkin sold 71,488 shares of Activision stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $75.65, for a total value of $5,408,067.20. Following the completion of the sale, the insider now directly owns 151,314 shares of the company’s stock, valued at $11,446,904.10. The disclosure for this sale can be found here. Insiders sold 2,701,258 shares of company stock worth $191,727,094 in the last 90 days. Company insiders own 2.12% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Signaturefd LLC purchased a new stake in shares of Activision in the 1st quarter valued at about $114,000. SeaCrest Wealth Management LLC purchased a new stake in shares of Activision in the 4th quarter valued at about $125,000. Goodman Financial Corp purchased a new stake in shares of Activision in the 4th quarter valued at about $127,000. AdvisorNet Financial Inc lifted its holdings in shares of Activision by 343.1% in the 1st quarter. AdvisorNet Financial Inc now owns 2,583 shares of the company’s stock valued at $174,000 after purchasing an additional 2,000 shares during the last quarter. Finally, James Hambro & Partners purchased a new stake in shares of Activision in the 4th quarter valued at about $184,000. 85.34% of the stock is owned by institutional investors and hedge funds.

Shares of Activision traded down $0.69, hitting $72.21, during trading on Tuesday, Marketbeat reports. The stock had a trading volume of 252,410 shares, compared to its average volume of 6,154,607. Activision has a 12-month low of $71.83 and a 12-month high of $72.77. The stock has a market cap of $54.28 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 2.14 and a beta of 1.17. The company has a quick ratio of 2.18, a current ratio of 2.19 and a debt-to-equity ratio of 0.45.

About Activision

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.

Get a free copy of the Zacks research report on Activision (ATVI)

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

Earnings History and Estimates for Activision (NASDAQ:ATVI)

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



Leave a Reply