Report: Activision Blizzard to lay off hundreds of staff – TheSixthAxis
12 February, 2019, 23:43
On February 8th, 2019, volume rose to about 1,420,728 transactions.
Activision Blizzard (ATVI) attained alert from day Traders as RSI reading reached at 39.96. A stock experiencing a high level of volatility has a higher ATR, and a low volatility stock has a lower ATR.
As Bloomberg notes, the company has seen quite a shake-up at the top over the past year as well, which certainly doesn't help. (NASDAQ:ATVI) has "Overweight" rating given by KeyBanc Capital Markets. In the same vein, BlackRock Fund Advisors decreased its Coty Inc. shares by during the most recent reported quarter. The company made Return on equity of 5.70% in last 12 months period. ValuEngine cut Activision Blizzard from a sell rating to a strong sell rating in a report on Thursday, February 7th. Is it a worthwhile investment opportunity? Since analyst price targets calculations are subjective, there often can be wide range of targets from various analysts.
In the wake of Activision Blizzard cutting costs, it looks like they may be laying off hundreds of staff members, many of whom are still unaware of their fate. The stock has "Overweight" rating by KeyBanc Capital Markets on Wednesday, October 31.
Amongst the analysts that rated the stock, 0 have recommended investors to sell it, 11 believe it has the potential for further growth, thus rating it as Hold while 11 advised investors to purchase the stock. Now the security holds 15 "strong buy" ratings, two "buys", five "holds", and not a single "sell".
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And how do Wall Street experts think this company is performing in this arena?
Activision Blizzard is reportedly planning on announcing job cuts that could "number in the hundreds" following slowing sales for the company responsible for such titles as Call of Duty and Overwatch. Analysts therefore consider the investment a net gain. For the financial results of the preceding quarter, the company posted earnings of 0.41, in comparison to the average analyst forecast of 0.35 - representing a difference of 0.06 and a surprise factor of 16.74. The Company kept a record of 754.25 million floated shares and 772.72 million shares outstanding. EPS is seen in a range of $0.36 to $0.64, against the $0.61 reported a year ago. The Average True Range for this company's stock is now 1.92, and its current Beta is sitting at 0.97.
Outperform is an analyst recommendation which means that a stock is expected to do slightly better than the market return. The ratio is positive due to Activision Blizzard, Inc. positioning: 43 sold and 206 reduced.
Analysts are expecting average earnings estimates of $1.28 for the current quarter based on the opinion of 30 analysts, relating to high earnings per share estimates of $1.38 and low estimates of $1.21, however Activision Blizzard (NASDAQ:ATVI) reported $0.94 earnings per share for the same quarter a year ago.
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