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Bull of the Day: Take-Two (TTWO)

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Any way you look at it, gaming is big business. It’s not just something that nerds do in their basements to stay out of the sunlight or Saturday nights because they can’t get dates. Gaming is turning into something huge with Twitch channels following gamers live, E-Sports events selling out arenas, and companies cranking out winning franchises earnings them billions of dollars. Today’s Bull of the Day is one of those gaming behemoths, Take-Two Interactive (TTWO - Free Report) .

Take-Two Interactive Software, Inc. develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; offering downloadable episodes, and content and virtual currency; and releasing titles for smartphones and tablets. The company also develops brands in other genres, including the L.A. Noire, Bully, and Manhunt franchises. 

This last earnings report was actually a disappointment for Take-Two. However, the guide for the next quarter was so good that the stock has been in rally mode. Analysts took note, with five increasing their earnings estimates for the current quarter, and nine increasing their number for the current year. The bullish view has pushed up the Zacks Consensus Estimate for the current quarter from 82 cents or 99 cents while increasing the current year number from $2.19 to $2.89.

The bullish attitude has sent shares screaming higher. This Zacks Rank #1 (Strong Buy) has been consistently moving to the upside, finding support at the 50-day moving average on multiple occasions. The last of which came just before earnings, with the stock getting within a buck of support. Now the stock is breaking through to new 52-week highs, riding the high of earnings estimate revisions to the upside.

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