Wall Street analysts expect that Activision Blizzard, Inc. (NASDAQ:ATVI) will announce sales of $1.67 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Activision Blizzard’s earnings. The lowest sales estimate is $1.62 billion and the highest is $1.74 billion. Activision Blizzard reported sales of $1.90 billion during the same quarter last year, which indicates a negative year over year growth rate of 12.1%. The company is expected to announce its next earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Activision Blizzard will report full year sales of $7.51 billion for the current financial year, with estimates ranging from $7.35 billion to $7.62 billion. For the next financial year, analysts expect that the business will post sales of $8.05 billion per share, with estimates ranging from $7.82 billion to $8.46 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Activision Blizzard.

Activision Blizzard (NASDAQ:ATVI) last issued its earnings results on Thursday, August 2nd. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.11. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.38 billion. Activision Blizzard had a return on equity of 18.00% and a net margin of 6.96%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.32 EPS.

Several brokerages have issued reports on ATVI. Wedbush set a $81.00 target price on Activision Blizzard and gave the company a “buy” rating in a report on Thursday, July 26th. Piper Jaffray Companies upped their target price on Activision Blizzard to $84.00 and gave the company an “overweight” rating in a report on Wednesday, July 25th. BidaskClub cut Activision Blizzard from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 25th. KeyCorp upped their target price on Activision Blizzard from $83.00 to $90.00 and gave the company an “overweight” rating in a report on Monday, June 18th. Finally, Morgan Stanley upped their target price on Activision Blizzard from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Activision Blizzard currently has an average rating of “Buy” and a consensus target price of $79.12.

NASDAQ:ATVI traded up $1.61 during trading hours on Thursday, hitting $73.57. The company had a trading volume of 5,051,998 shares, compared to its average volume of 6,162,832. The company has a quick ratio of 2.96, a current ratio of 2.98 and a debt-to-equity ratio of 0.42. The stock has a market cap of $56.09 billion, a P/E ratio of 35.89, a PEG ratio of 1.96 and a beta of 0.87. Activision Blizzard has a 1 year low of $57.29 and a 1 year high of $81.64.

In other news, CEO Riccardo Zacconi sold 19,761 shares of the stock in a transaction on Monday, August 20th. The stock was sold at an average price of $68.70, for a total transaction of $1,357,580.70. Following the completion of the transaction, the chief executive officer now directly owns 20,324 shares in the company, valued at approximately $1,396,258.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.29% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. lifted its stake in Activision Blizzard by 16.3% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,524 shares of the company’s stock worth $345,000 after acquiring an additional 634 shares in the last quarter. Wetherby Asset Management Inc. raised its position in Activision Blizzard by 7.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 9,385 shares of the company’s stock valued at $716,000 after purchasing an additional 680 shares in the last quarter. Thrivent Financial for Lutherans raised its position in Activision Blizzard by 2.4% in the 1st quarter. Thrivent Financial for Lutherans now owns 31,554 shares of the company’s stock valued at $2,129,000 after purchasing an additional 729 shares in the last quarter. Mission Wealth Management LP raised its position in Activision Blizzard by 13.5% in the 2nd quarter. Mission Wealth Management LP now owns 6,174 shares of the company’s stock valued at $471,000 after purchasing an additional 732 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its position in Activision Blizzard by 0.3% in the 2nd quarter. Peregrine Capital Management LLC now owns 243,301 shares of the company’s stock valued at $18,569,000 after purchasing an additional 735 shares in the last quarter. 86.92% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.

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

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