Activision Blizzard, Inc. Forecasted to Earn FY2023 Earnings of $3.44 Per Share (NASDAQ:ATVI)

Activision Blizzard, Inc. (NASDAQ:ATVIGet Rating) – Equities research analysts at Oppenheimer dropped their FY2023 earnings per share estimates for shares of Activision Blizzard in a research report issued on Wednesday, November 23rd. Oppenheimer analyst M. Yang now anticipates that the company will post earnings per share of $3.44 for the year, down from their prior forecast of $3.68. The consensus estimate for Activision Blizzard’s current full-year earnings is $2.60 per share.

A number of other brokerages also recently commented on ATVI. Deutsche Bank Aktiengesellschaft reduced their price objective on Activision Blizzard from $84.00 to $83.00 in a research report on Wednesday, November 16th. Moffett Nathanson upgraded Activision Blizzard from a “neutral” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Wednesday, August 3rd. Atlantic Securities upgraded Activision Blizzard from a “neutral” rating to an “overweight” rating and reduced their price objective for the stock from $95.00 to $84.00 in a research report on Thursday, September 15th. Raymond James upgraded Activision Blizzard from a “market perform” rating to an “outperform” rating and set a $95.00 price objective for the company in a research report on Thursday, November 10th. Finally, TheStreet downgraded Activision Blizzard from a “b” rating to a “c+” rating in a research report on Wednesday, September 21st. Eight investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.28.

Activision Blizzard Stock Performance

ATVI opened at $76.59 on Thursday. The firm has a market capitalization of $59.94 billion, a P/E ratio of 35.96, a price-to-earnings-growth ratio of 3.07 and a beta of 0.49. The stock’s 50 day moving average price is $73.78 and its two-hundred day moving average price is $76.63. The company has a quick ratio of 5.76, a current ratio of 5.76 and a debt-to-equity ratio of 0.19. Activision Blizzard has a 12-month low of $56.40 and a 12-month high of $86.90.

Hedge Funds Weigh In On Activision Blizzard

Several institutional investors have recently bought and sold shares of ATVI. ACG Wealth bought a new position in Activision Blizzard in the 2nd quarter valued at $25,000. Joseph P. Lucia & Associates LLC acquired a new stake in shares of Activision Blizzard in the 2nd quarter valued at $25,000. MV Capital Management Inc. increased its stake in shares of Activision Blizzard by 275.5% in the 1st quarter. MV Capital Management Inc. now owns 353 shares of the company’s stock valued at $28,000 after buying an additional 259 shares during the period. Orion Capital Management LLC increased its stake in shares of Activision Blizzard by 75.7% in the 2nd quarter. Orion Capital Management LLC now owns 355 shares of the company’s stock valued at $28,000 after buying an additional 153 shares during the period. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Activision Blizzard in the 3rd quarter valued at $33,000. Institutional investors own 78.78% of the company’s stock.

Insider Buying and Selling at Activision Blizzard

In other Activision Blizzard news, COO Daniel Alegre sold 10,000 shares of Activision Blizzard stock in a transaction on Friday, September 9th. The stock was sold at an average price of $78.16, for a total value of $781,600.00. Following the completion of the transaction, the chief operating officer now owns 176,690 shares in the company, valued at approximately $13,810,090.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.

About Activision Blizzard

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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.

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

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