The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 10th. I think Activision Blizzard is being cautious because a single flop on the game side can lead to a bad year financially. It has a dividend yield of 0.65%. For its part, S&P Capital IQ analyst Kessler lifted his price target by $6 to $58 on the stock. The Market Cap of the company stands at 30.11 Billion. (NYSE:KEY) as "STRONG BUY", 10 rated as "BUY" and 13 issued a "HOLD" rating.
The firm's 50 day moving average is $38.60 and its 200 day moving average is $40.54. A beta of less than 1 means that the security will be less volatile than the market. Activision Blizzard, Inc reported better than expected with a surprise EPS of 17.95% or $0.07 during its most recent quarterly earnings. The company reported $0.65 EPS for the quarter, missing the Zacks' consensus estimate of $0.73 by $0.08.
Sales of "Call of Duty: Infinite Warfare" were below expectations during the holiday quarter, but it was offset by "Overwatch" core game sales and in-game microtransactions, as well as "World of Warcraft", Piper Jaffray analyst Michael Olson said in a report. The firm's revenue was up 81.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.83 EPS. Activision Blizzard, Inc. (ATVI) now trades with a market capitalization of $30.11 Billion. ZACCONI RICCARDO sold 19,761 shares in the company at $40.09 each and collected $792,000 in proceeds. The Rights would then become exercisable and entitle stockholders (other than the acquiring person or group) to purchase additional shares of the Company at a noteworthydiscount and result in noteworthydilution in the economic interest and voting power of the acquiring person or group. Commerzbank Aktiengesellschaft FI now owns 393,674 shares of the company's stock worth $15,601,000 after buying an additional 270,338 shares during the period. California State Teachers Retirement System increased its stake in Activision Blizzard by 7.6% in the second quarter. (NASDAQ:ATVI) stock opened its trade at $40.10 and after floating in a range of $39.15 to $40.12, settled at $39.19.
Heading into the stock price potential, Activision Blizzard, Inc. needs to grow just 20.82% to cross its median price target of $48.
The company also forecast full-year adjusted profit of $1.85 per share and adjusted revenue of $6.30 billion. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Activision Blizzard during the second quarter valued at $1,337,000. The stock has been active on the tape, now trading at $40.05, down from yesterday's close by -0.35%. It has been recommended as "Buy Opinions" from 9 and 0 suggested "Sell Thoughts" for the stock. Robert W. Baird restated an outperform rating on shares of Activision Blizzard in a report on Friday. Year-to-date (YTD) performance of the stock illustrate upbeat trend of 10.02%. Institutional investors own 86.32% of the company's stock.
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