In the latest trading session, Activision Blizzard, Inc closed at $72.80, marking a -0.07% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the company had lost 2% over the past month. This has lagged the Consumer Discretionary sector's gain of 4.1% and the S&P 500's gain of 4.98% 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. In that report, analysts expect Activision Blizzard, Inc to post earnings of $0.51 per share. This would mark a year-over-year decline of 29.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 billion, down 9.4% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.84 per share and revenue of $8.02 billion. These totals would mark changes of -23.66% and -4%, respectively, from last year.
Any recent changes to analyst estimates for Activision Blizzard, Inc should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. Activision Blizzard, Inc is currently a Zacks Rank #3 (Hold).
In terms of valuation, Activision Blizzard, Inc is currently trading at a Forward P/E ratio of 25.68. This represents a premium compared to its industry's average Forward P/E of 15.77.
It is also worth noting that ATVI currently has a PEG ratio of 2.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ATVI's industry had an average PEG ratio of 1.98 as of yesterday's close.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ATVI in the coming trading sessions, be sure to utilize Zacks.com.
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Activision Blizzard, Inc (ATVI) Stock Moves -0.07%: What You Should Know
In the latest trading session, Activision Blizzard, Inc closed at $72.80, marking a -0.07% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.75%. At the same time, the Dow lost 0.39%, and the tech-heavy Nasdaq gained 0.13%.
Prior to today's trading, shares of the company had lost 2% over the past month. This has lagged the Consumer Discretionary sector's gain of 4.1% and the S&P 500's gain of 4.98% 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. In that report, analysts expect Activision Blizzard, Inc to post earnings of $0.51 per share. This would mark a year-over-year decline of 29.17%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.7 billion, down 9.4% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.84 per share and revenue of $8.02 billion. These totals would mark changes of -23.66% and -4%, respectively, from last year.
Any recent changes to analyst estimates for Activision Blizzard, Inc should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.19% lower. Activision Blizzard, Inc is currently a Zacks Rank #3 (Hold).
In terms of valuation, Activision Blizzard, Inc is currently trading at a Forward P/E ratio of 25.68. This represents a premium compared to its industry's average Forward P/E of 15.77.
It is also worth noting that ATVI currently has a PEG ratio of 2.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. ATVI's industry had an average PEG ratio of 1.98 as of yesterday's close.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 224, which puts it in the bottom 12% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow ATVI in the coming trading sessions, be sure to utilize Zacks.com.