Activision Blizzard, Inc closed at $72.50 in the latest trading session, marking a -0.01% move from the prior day. This change lagged the S&P 500's 1.63% gain on the day. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 0.3%.
Heading into today, shares of the company had lost 2.45% over the past month, lagging the Consumer Discretionary sector's gain of 1.42% and the S&P 500's gain of 2.94% in that time.
Activision Blizzard, Inc will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2022. The company is expected to report EPS of $0.51, down 29.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 billion, down 9.4% from the year-ago period.
ATVI's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -23.66% and -4%, respectively.
Investors should also note any recent changes to analyst estimates for Activision Blizzard, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Activision Blizzard, Inc is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Activision Blizzard, Inc is holding a Forward P/E ratio of 25.56. For comparison, its industry has an average Forward P/E of 15.67, which means Activision Blizzard, Inc is trading at a premium to the group.
We can also see that ATVI currently has a PEG ratio of 2.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Toys - Games - Hobbies industry currently had an average PEG ratio of 1.94 as of yesterday's close.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Activision Blizzard, Inc (ATVI) Stock Sinks As Market Gains: What You Should Know
Activision Blizzard, Inc closed at $72.50 in the latest trading session, marking a -0.01% move from the prior day. This change lagged the S&P 500's 1.63% gain on the day. At the same time, the Dow added 1.07%, and the tech-heavy Nasdaq gained 0.3%.
Heading into today, shares of the company had lost 2.45% over the past month, lagging the Consumer Discretionary sector's gain of 1.42% and the S&P 500's gain of 2.94% in that time.
Activision Blizzard, Inc will be looking to display strength as it nears its next earnings release, which is expected to be November 7, 2022. The company is expected to report EPS of $0.51, down 29.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 billion, down 9.4% from the year-ago period.
ATVI's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $8.02 billion. These results would represent year-over-year changes of -23.66% and -4%, respectively.
Investors should also note any recent changes to analyst estimates for Activision Blizzard, Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Activision Blizzard, Inc is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Activision Blizzard, Inc is holding a Forward P/E ratio of 25.56. For comparison, its industry has an average Forward P/E of 15.67, which means Activision Blizzard, Inc is trading at a premium to the group.
We can also see that ATVI currently has a PEG ratio of 2.69. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Toys - Games - Hobbies industry currently had an average PEG ratio of 1.94 as of yesterday's close.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 210, putting it in the bottom 17% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.