Activision Backs off on Earnings, Analysts’ Ratings

Andrew Cummings
August 11, 2019

They issued a neutral rating for the company. ValuEngine upgraded shares of Activision Blizzard from a sell rating to a hold rating in a report on Wednesday, May 1st. Wedbush maintained it with "Outperform" rating and $56 target in Wednesday, February 13 report. They set a buy rating and a $56.00 price objective on the stock. Nomura began coverage on shares of Activision Blizzard in a report on Thursday, June 6th. Finally, Stephens lowered shares of Activision Blizzard from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $57.00 to $52.00 in a research report on Wednesday, May 22nd.

Among 9 analysts covering Activision Blizzard (NASDAQ:ATVI), 6 have Buy rating, 0 Sell and 3 Hold. Piper Jaffray maintained the stock with "Buy" rating in Friday, March 15 report.

Activision Blizzard stock opened at $49.33 on Thursday. Cwm Ltd Liability Corp holds 0.05% of its portfolio in Activision Blizzard, Inc. The firm's fifty day simple moving average is $47.24. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.63 and a quick ratio of 2.61. The company has a market capitalization of $37.79 billion, a PE ratio of 20.64, a P/E/G ratio of 2.30 and a beta of 0.90.

Activision Blizzard is reporting their Second Quarter Results today for the company after the markets close, and as part of the press release, the company has shared some updates on their franchises overall.

"Our second quarter results exceeded our prior outlook for both revenue and earnings per share", said Bobby Kotick, Chief Executive Officer of Activision Blizzard.

Looking ahead to the fiscal third quarter, the company expects to see EPS of $0.20 and revenues of $1.105. Indeed, it seems that Activision Blizzard has no interest in financing new projects related to the historic brand. (NYSE:NRG) news were published by: which released: "See which Houston-based public energy cos. had the biggest changes in employees a year ago - Houston Business Journal" on July 10, 2019, also with their article: "A Preview Of NRG Energy's Q2 Earnings - Benzinga" published on August 06, 2019, published: "Keeley Mid Cap Dividend Value Fund 2nd-Quarter Shareholder Commentary - Yahoo Finance" on August 02, 2019.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in shares of Activision Blizzard by 7.4% during the fourth quarter. HL Financial Services LLC now owns 5,746 shares of the company's stock valued at $262,000 after purchasing an additional 216 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Activision Blizzard by 127.0% during the fourth quarter.

Ascent Wealth Partners LLC lifted its position in Activision Blizzard, Inc. Thor Advisors LLC bought a new position in Activision Blizzard in the first quarter worth about $40,000.

Activision delivered approximately $800 million of in-game net bookings in the second quarter. Finally, Private Trust Co. Activision Blizzard, Inc. (NASDAQ:ATVI) has declined 33.00% since August 9, 2018 and is downtrending.

In other Activision Blizzard news, insider Christopher B. Walther sold 2,333 shares of the business's stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $45.91, for a total value of $107,108.03. The transaction was disclosed in a document filed with the SEC, which is available at this link. The disclosure for this sale can be found here. The stock decreased 2.78% or $1.37 during the last trading session, reaching $47.96. In the last three months, insiders sold 21,332 shares of company stock worth $1,021,187.

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