Activision Blizzard (NASDAQ:ATVI) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Activision Blizzard (NASDAQ:ATVI) posted its earnings results on Thursday. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09, Fidelity Earnings reports. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Activision Blizzard had a return on equity of 15.54% and a net margin of 23.69%. The firm’s quarterly revenue was down 27.1% compared to the same quarter last year. During the same period last year, the business posted $0.52 earnings per share. Activision Blizzard updated its Q4 guidance to $0.29 EPS.

Shares of NASDAQ ATVI traded down $0.25 during midday trading on Friday, reaching $54.30. 15,898,300 shares of the company traded hands, compared to its average volume of 8,976,302. Activision Blizzard has a 52 week low of $39.85 and a 52 week high of $57.52. The company has a market cap of $42.60 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.22, a current ratio of 3.46 and a quick ratio of 3.43. The stock has a 50-day moving average price of $54.65 and a 200 day moving average price of $49.30.

In other Activision Blizzard news, insider Christopher B. Walther sold 5,333 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $50.83, for a total transaction of $271,076.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian M. Stolz sold 134,845 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $47.80, for a total value of $6,445,591.00. Following the sale, the insider now owns 58,563 shares of the company’s stock, valued at $2,799,311.40. The disclosure for this sale can be found here. Insiders have sold a total of 145,511 shares of company stock valued at $6,997,557 over the last 90 days. Corporate insiders own 1.29% of the company’s stock.

A number of research firms have issued reports on ATVI. UBS Group reiterated a “buy” rating and issued a $56.00 target price (up from $52.00) on shares of Activision Blizzard in a research note on Friday, August 9th. Stephens upgraded Activision Blizzard from an “equal” rating to a “weight” rating and raised their target price for the company from $52.00 to $65.00 in a research note on Thursday, September 5th. SunTrust Banks raised their target price on Activision Blizzard from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Needham & Company LLC reiterated a “buy” rating and issued a $62.00 target price on shares of Activision Blizzard in a research note on Friday. Finally, Jefferies Financial Group upgraded Activision Blizzard to a “buy” rating and set a $65.00 target price on the stock in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-five have given a buy rating to the company. Activision Blizzard currently has a consensus rating of “Buy” and an average target price of $60.38.

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.

Further Reading: What is an investor looking for in an SEC filing?

Earnings History for Activision Blizzard (NASDAQ:ATVI)

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