Activision Blizzard, Inc closed at $73.12 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's 2.6% gain on the day. Elsewhere, the Dow gained 2.83%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the company had lost 4.05% over the past month, outpacing the Consumer Discretionary sector's loss of 15.77% and the S&P 500's loss of 12.9% 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 $0.52 per share. This would mark a year-over-year decline of 27.78%. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, down 9.06% from the year-ago period.
ATVI's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $8.03 billion. These results would represent year-over-year changes of -23.66% and -3.89%, respectively.
Investors might also notice recent changes to analyst estimates for Activision Blizzard, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Activision Blizzard, Inc is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Activision Blizzard, Inc is currently trading at a Forward P/E ratio of 25.87. Its industry sports an average Forward P/E of 15.92, so we one might conclude that Activision Blizzard, Inc is trading at a premium comparatively.
Also, we should mention that ATVI has a PEG ratio of 2.72. 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. Toys - Games - Hobbies stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
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 $73.12 in the latest trading session, marking a -0.52% move from the prior day. This change lagged the S&P 500's 2.6% gain on the day. Elsewhere, the Dow gained 2.83%, while the tech-heavy Nasdaq lost 0.05%.
Heading into today, shares of the company had lost 4.05% over the past month, outpacing the Consumer Discretionary sector's loss of 15.77% and the S&P 500's loss of 12.9% 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 $0.52 per share. This would mark a year-over-year decline of 27.78%. Our most recent consensus estimate is calling for quarterly revenue of $1.71 billion, down 9.06% from the year-ago period.
ATVI's full-year Zacks Consensus Estimates are calling for earnings of $2.84 per share and revenue of $8.03 billion. These results would represent year-over-year changes of -23.66% and -3.89%, respectively.
Investors might also notice recent changes to analyst estimates for Activision Blizzard, Inc. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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. The Zacks Consensus EPS estimate has moved 0.07% higher within the past month. Activision Blizzard, Inc is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Activision Blizzard, Inc is currently trading at a Forward P/E ratio of 25.87. Its industry sports an average Forward P/E of 15.92, so we one might conclude that Activision Blizzard, Inc is trading at a premium comparatively.
Also, we should mention that ATVI has a PEG ratio of 2.72. 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. Toys - Games - Hobbies stocks are, on average, holding a PEG ratio of 1.83 based on yesterday's closing prices.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 65, which puts it in the top 26% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.