Q1 2019 EPS Estimates for Activision Blizzard, Inc. (ATVI) Reduced by SunTrust Banks

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Activision Blizzard, Inc. (NASDAQ:ATVI) – Stock analysts at SunTrust Banks reduced their Q1 2019 earnings estimates for Activision Blizzard in a research note issued on Monday, April 29th, Zacks Investment Research reports. SunTrust Banks analyst M. Thornton now expects that the company will post earnings per share of $0.21 for the quarter, down from their previous estimate of $0.31. SunTrust Banks also issued estimates for Activision Blizzard’s Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.35 EPS and FY2019 earnings at $1.93 EPS.

Activision Blizzard (NASDAQ:ATVI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.13. Activision Blizzard had a net margin of 23.90% and a return on equity of 16.19%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was down 8.7% on a year-over-year basis.

Other research analysts also recently issued reports about the stock. Wedbush reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Activision Blizzard in a research note on Monday, April 1st. Piper Jaffray Companies reaffirmed an “overweight” rating on shares of Activision Blizzard in a research note on Monday, April 22nd. William Blair reaffirmed an “outperform” rating on shares of Activision Blizzard in a research note on Friday, May 3rd. BidaskClub raised shares of Activision Blizzard from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, Zacks Investment Research downgraded shares of Activision Blizzard from a “hold” rating to a “sell” rating in a research note on Friday, May 3rd. Eleven analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $61.89.

Shares of NASDAQ ATVI traded down $0.90 during mid-day trading on Thursday, hitting $46.39. The stock had a trading volume of 3,333,970 shares, compared to its average volume of 11,290,984. The company has a quick ratio of 2.61, a current ratio of 2.63 and a debt-to-equity ratio of 0.23. Activision Blizzard has a 1 year low of $39.85 and a 1 year high of $84.68. The company has a market cap of $35.45 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.29 and a beta of 0.83.

In other news, Director Robert J. Morgado sold 15,000 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.91, for a total value of $643,650.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Christopher B. Walther sold 2,333 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $45.91, for a total transaction of $107,108.03. The disclosure for this sale can be found here. 1.29% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in ATVI. Massey Quick Simon & CO. LLC bought a new position in Activision Blizzard in the 1st quarter worth about $25,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Activision Blizzard in the 1st quarter worth about $27,000. Capital Investment Advisory Services LLC bought a new position in Activision Blizzard in the 4th quarter worth about $37,000. Lindbrook Capital LLC bought a new position in Activision Blizzard in the 4th quarter worth about $37,000. Finally, Pearl River Capital LLC bought a new position in Activision Blizzard in the 4th quarter worth about $41,000. Institutional investors own 87.71% of the company’s stock.

Activision Blizzard Company Profile

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. It 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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