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Activision Blizzard, Inc (ATVI) Stock Moves -0.85%: What You Should Know

Activision Blizzard, Inc (ATVI) closed the most recent trading day at $75.96, moving -0.85% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.3%. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 5.51%.

Coming into today, shares of the company had gained 0.08% in the past month. In that same time, the Consumer Discretionary sector gained 15.99%, while the S&P 500 gained 6.41%.

Activision Blizzard, Inc will be looking to display strength as it nears 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%. Our most recent consensus estimate is calling for quarterly revenue of $3.22 billion, up 29.55% from the year-ago period.

Any recent changes to analyst estimates for Activision Blizzard, Inc should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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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, 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 remained stagnant. Activision Blizzard, Inc is currently sporting a Zacks Rank of #3 (Hold).

Investors should also note Activision Blizzard, Inc's current valuation metrics, including its Forward P/E ratio of 19.53. This represents a premium compared to its industry's average Forward P/E of 17.99.

It is also worth noting that ATVI currently has a PEG ratio of 2.06. 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 1.73 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 242, which puts it in the bottom 4% 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) : Free Stock Analysis Report

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