Activision Blizzard, Inc closed the most recent trading day at $75.22, moving +1.87% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the company had lost 2.78% over the past month, lagging the Consumer Discretionary sector's gain of 14.35% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Activision Blizzard, Inc as it approaches its next earnings release, which is expected to be February 6, 2023. On that day, Activision Blizzard, Inc is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 20.8%. Meanwhile, our latest consensus estimate is calling for revenue of $3.23 billion, up 29.74% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Activision Blizzard, Inc. These recent revisions tend to reflect the evolving nature of short-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. 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 18.83. This represents a premium compared to its industry's average Forward P/E of 16.97.
We can also see that ATVI currently has a PEG ratio of 1.98. 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 was holding an average PEG ratio of 1.61 at yesterday's closing price.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Activision Blizzard, Inc (ATVI) Outpaces Stock Market Gains: What You Should Know
Activision Blizzard, Inc closed the most recent trading day at $75.22, moving +1.87% from the previous trading session. The stock outpaced the S&P 500's daily gain of 1.19%. Meanwhile, the Dow gained 0.76%, and the Nasdaq, a tech-heavy index, added 0.29%.
Heading into today, shares of the company had lost 2.78% over the past month, lagging the Consumer Discretionary sector's gain of 14.35% and the S&P 500's gain of 4.06% in that time.
Investors will be hoping for strength from Activision Blizzard, Inc as it approaches its next earnings release, which is expected to be February 6, 2023. On that day, Activision Blizzard, Inc is projected to report earnings of $1.51 per share, which would represent year-over-year growth of 20.8%. Meanwhile, our latest consensus estimate is calling for revenue of $3.23 billion, up 29.74% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Activision Blizzard, Inc. These recent revisions tend to reflect the evolving nature of short-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.03% lower within the past month. 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 18.83. This represents a premium compared to its industry's average Forward P/E of 16.97.
We can also see that ATVI currently has a PEG ratio of 1.98. 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 was holding an average PEG ratio of 1.61 at yesterday's closing price.
The Toys - Games - Hobbies industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 232, putting it in the bottom 8% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.