Q3 2023 EPS Estimates for Activision Blizzard, Inc. Lifted by Wedbush (NASDAQ:ATVI)

Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) – Stock analysts at Wedbush lifted their Q3 2023 earnings estimates for shares of Activision Blizzard in a research note issued to investors on Tuesday, August 2nd. Wedbush analyst M. Pachter now anticipates that the company will post earnings of $1.02 per share for the quarter, up from their previous estimate of $0.87. The consensus estimate for Activision Blizzard’s current full-year earnings is $2.46 per share.

Activision Blizzard (NASDAQ:ATVIGet Rating) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.09. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.57 billion. Activision Blizzard had a net margin of 24.57% and a return on equity of 10.22%. Activision Blizzard’s revenue was down 14.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS.

Other equities research analysts have also issued reports about the stock. Moffett Nathanson upgraded shares of Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Wednesday. Jefferies Financial Group restated a “buy” rating and set a $95.00 target price on shares of Activision Blizzard in a research report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Activision Blizzard from $95.00 to $84.00 in a research report on Thursday. Eighteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Activision Blizzard currently has a consensus rating of “Hold” and a consensus target price of $94.73.

Activision Blizzard Price Performance

Shares of NASDAQ ATVI opened at $80.49 on Thursday. The firm has a market capitalization of $62.97 billion, a P/E ratio of 33.54, a PEG ratio of 2.26 and a beta of 0.51. Activision Blizzard has a one year low of $56.40 and a one year high of $86.90. The company’s fifty day moving average is $77.80 and its two-hundred day moving average is $78.88. The company has a debt-to-equity ratio of 0.20, a quick ratio of 5.45 and a current ratio of 6.18.

Insider Buying and Selling at Activision Blizzard

In other Activision Blizzard news, CFO Armin Zerza sold 10,174 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $80.22, for a total value of $816,158.28. Following the transaction, the chief financial officer now directly owns 186,117 shares in the company, valued at approximately $14,930,305.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Joseph P. Lucia & Associates LLC acquired a new position in shares of Activision Blizzard during the 2nd quarter valued at about $25,000. ACG Wealth acquired a new position in shares of Activision Blizzard during the 2nd quarter valued at about $25,000. MV Capital Management Inc. increased its stake in shares of Activision Blizzard by 275.5% during the 1st quarter. MV Capital Management Inc. now owns 353 shares of the company’s stock valued at $28,000 after acquiring an additional 259 shares during the last quarter. Orion Capital Management LLC increased its stake in shares of Activision Blizzard by 75.7% during the 2nd quarter. Orion Capital Management LLC now owns 355 shares of the company’s stock valued at $28,000 after acquiring an additional 153 shares during the last quarter. Finally, Confluence Wealth Services Inc. acquired a new position in shares of Activision Blizzard during the 4th quarter valued at about $25,000. Institutional investors and hedge funds own 83.11% of the company’s stock.

Activision Blizzard Company Profile

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Activision Blizzard, Inc, together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates through three segments: Activision, Blizzard, and King. It develops and distributes content and services on video game consoles, personal computers, and mobile devices, including subscription, full-game, and in-game sales, as well as by licensing software to third-party or related-party companies that distribute Activision and Blizzard products.

Further Reading

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

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