Activision Blizzard Reports Sales Miss and Weak Outlook

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Bloomberg are reporting that Activision Blizzard are to lay off hundreds of staff, formally announcing the move this Tuesday.

Outperform is an analyst recommendation which means that a stock is expected to do slightly better than the market return.

The PE ratio of 25.43 helps investors explore how much they should pay for a stock based on its current earnings. This includes dramatic staff cost-cutting that has been rumored for months; Kotaku reported last December that Activision Blizzard was preparing for a "lean" 2019. The Vanguard Group Inc meanwhile sold more COTY shares in the recently filed quarter, changing its stake to $293,731,242 worth of shares.

Shares of Activision Blizzard (NASDAQ:ATVI) has a market capitalization of $33.54 Billion and its number of outstanding shares are 772.72 Million. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68. As a result, the company has made leadership changes created to "enable us to achieve the many opportunities our industry affords us, especially with our powerful owned franchises, our strong commercial capabilities, our direct digital connections to hundreds of millions of players, and our extraordinarily talented employees".

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EPS in next five year years is expected to touch 9.14% while EPS growth in past 5 year was 3.4% along with sales growth of 7.6% in the last five years.

Currently Activision Blizzard (NASDAQ:ATVI)'s shares owned by insiders are 0.7%, whereas shares owned by institutional owners are 92.3%. Revenue for the recent quarter stood at $1.66 billion, down -13% on previous year and below the $1.66 billion predicted by analysts. The company's average trading volume now stands at 11.69M shares, which means that the short-interest ratio is just 5.79 days. Fidelity Management Research Co bought more COTY shares, increasing its portfolio by +6.41% during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Activision Blizzard by 4.9% in the 4th quarter. During the trading session, a total of 44.62 million shares were traded which represents a -272.18% decline from the average session volume which is 11.99M shares.

Activision Blizzard, Inc. develops and distributes content and services on video game consoles, personal computers, and mobile devices.The company has $30.61 billion market cap. Hedge funds and other institutional investors own 90.62% of the company's stock. Take-Two Interactive Software Inc. share price also fell last week after forecasts for this quarter were 100 million below the forecasts set by Wall Street for the company. Fortnite's marketing efforts constantly bring a level of hype to the game, while Activision Blizzard's fall slightly short - all due to the fact that Fortnite is completely free.