Q4 2023 EPS Estimates for Activision Blizzard, Inc. (NASDAQ:ATVI) Raised by Analyst

Posted by Defense World Staff on Jun 15th, 2023

Activision Blizzard, Inc. (NASDAQ:ATVI – Get Rating) – Analysts at Wedbush upped their Q4 2023 earnings per share (EPS) estimates for Activision Blizzard in a research report issued on Tuesday, June 13th. Wedbush analyst N. Mckay now anticipates that the company will post earnings per share of $1.60 for the quarter, up from their prior estimate of $1.58. The consensus estimate for Activision Blizzard’s current full-year earnings is $3.52 per share.

Activision Blizzard (NASDAQ:ATVI – Get Rating) last posted its quarterly earnings data on Wednesday, April 26th. The company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. Activision Blizzard had a return on equity of 12.97% and a net margin of 22.82%. The firm had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.83 billion.

A number of other equities research analysts have also recently commented on ATVI. StockNews.com began coverage on shares of Activision Blizzard in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Stifel Nicolaus lowered their target price on shares of Activision Blizzard from $95.00 to $88.00 in a report on Tuesday, May 2nd. Truist Financial boosted their target price on shares of Activision Blizzard from $81.00 to $84.00 in a report on Wednesday, April 26th. BNP Paribas raised shares of Activision Blizzard from a “neutral” rating to an “outperform” rating in a report on Friday, April 28th. Finally, BMO Capital Markets upped their target price on shares of Activision Blizzard from $95.00 to $100.00 in a research report on Thursday, April 27th. Sixteen analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $91.53.

Activision Blizzard Stock Performance

Shares of ATVI opened at $81.23 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 5.15 and a quick ratio of 5.15. The stock has a 50-day moving average of $80.33 and a 200-day moving average of $78.43. The company has a market cap of $63.71 billion, a PE ratio of 34.57, a P/E/G ratio of 2.40 and a beta of 0.41. Activision Blizzard has a one year low of $70.94 and a one year high of $87.01.

Insider Buying and Selling at Activision Blizzard

In other Activision Blizzard news, Director Peter J. Nolan purchased 13,160 shares of the stock in a transaction on Wednesday, May 3rd. The stock was bought at an average cost of $75.99 per share, for a total transaction of $1,000,028.40. Following the completion of the acquisition, the director now directly owns 174,777 shares of the company’s stock, valued at $13,281,304.23. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.08% of the company’s stock.

Hedge Funds Weigh In On Activision Blizzard

A number of institutional investors and hedge funds have recently bought and sold shares of ATVI. Quilter Plc purchased a new stake in shares of Activision Blizzard during the first quarter valued at approximately $203,565,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Activision Blizzard by 186.4% in the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 338 shares of the company’s stock worth $29,000 after buying an additional 220 shares during the last quarter. Front Row Advisors LLC increased its position in Activision Blizzard by 140.4% in the first quarter. Front Row Advisors LLC now owns 351 shares of the company’s stock worth $30,000 after buying an additional 205 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Activision Blizzard in the first quarter worth $35,000. Finally, Ameritas Advisory Services LLC bought a new position in shares of Activision Blizzard in the first quarter worth $38,000. Institutional investors and hedge funds own 79.34% 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.