Activision Blizzard plan to cut hundreds of jobs

Activision is about to lay off hundreds of employees

Report: Activision Blizzard to lay off hundreds of staff – TheSixthAxis

Under its belt, the company still owns the Call of Duty franchise under the Activision name. The stock has a market capitalization of $30.99 Billion however its outstanding shares are 772.72 Million. It also looks like the company's stock has dropped significantly-7.6% to be exact-adding to the mound of issues they've faced within the past few months. Rafferty Asset Management LLC now owns 32,746 shares of the company's stock worth $1,525,000 after purchasing an additional 7,985 shares during the last quarter. Activision Blizzard, Inc. now has a market cap of $30.99B, while its P/E ratio stands at 25.43, while its P/E earnings growth sits at 4.33, with a beta of 0.88.

Activision Blizzard's troubles may be tied to the larger gaming landscape. About 94,065 shares traded. Activision Blizzard has a 12 month low of $39.85 and a 12 month high of $84.68. The stock underperformed the S&P500 by 22.23%.

That's in stark contrast to the Activision Blizzard model, which, with the exception of some more casual games like "Candy Crush Saga", asks players to pony up as much as $60 to purchase a game upfront and also pay for additional content later. ATVI last reported earnings on November 08, 2018 when it released Sep-18 results that exceeded expectations.

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Blizzard CFO Amrita Ahuja exited last January, while Activision consumer products division boss, Tim Kilpin, retired this month. More interesting news about Activision Blizzard, Inc.

Activision forecast current-quarter adjusted revenue of $1.18 billion and profit of 20 cents per share, missing analysts' average estimates of $1.45 billion and 46 cents per share, according to IBES data from Refinitiv. Therefore 50% are positive.

Activision Blizzard, Inc. (NASDAQ:ATVI) is expected to publish earnings on February, 14., as reported by RTT.

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Reiterated Activision Blizzard (NASDAQ:ATVI) Rating. (NASDAQ:ATVI) has "Overweight" rating given by KeyBanc Capital Markets.

In context: In what's been a turbulent year for the publishing giant, seeing stagnating growth in key titles such as Overwatch and Hearthstone, as well as losing the Destiny IP, Activision is reportedly planning a restructuring effort aimed at increasing profitability. The firm has "Neutral" rating given on Friday, August 31 by Bank of America. On Monday, October 1 the rating was maintained by Wedbush with "Outperform".

Activision Blizzard, Inc. (NASDAQ:ATVI) is awaited to publish earnings on February, 14., as reported by RTT. (NASDAQ:ATVI) rating. Barclays Capital has "Overweight" rating and $86 target.

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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.

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