TAKE-TWO INTERACTIVE SOFTWARE, INC (NASDAQ:TTWO) Expected to Post Quarterly Sales of $817.19 Million

Equities analysts predict that TAKE-TWO INTERACTIVE SOFTWARE, INC (NASDAQ:TTWO) will report $817.19 million in sales for the current fiscal quarter, Zacks Investment Research reports. Twenty One analysts have made estimates for TAKE-TWO INTERACTIVE SOFTWARE’s earnings, with estimates ranging from $392.19 million to $869.00 million. TAKE-TWO INTERACTIVE SOFTWARE reported sales of $422.24 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 93.5%. The company is expected to issue its next earnings report on Monday, August 3rd.

According to Zacks, analysts expect that TAKE-TWO INTERACTIVE SOFTWARE will report full-year sales of $2.71 billion for the current year, with estimates ranging from $2.60 billion to $2.97 billion. For the next financial year, analysts forecast that the company will report sales of $3.41 billion, with estimates ranging from $2.84 billion to $4.72 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for TAKE-TWO INTERACTIVE SOFTWARE.

TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO) last issued its quarterly earnings data on Wednesday, May 20th. The company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.60. TAKE-TWO INTERACTIVE SOFTWARE had a return on equity of 18.22% and a net margin of 13.09%. The company had revenue of $729.42 million during the quarter, compared to analyst estimates of $585.27 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. TAKE-TWO INTERACTIVE SOFTWARE’s revenue was up 49.3% compared to the same quarter last year.

TTWO has been the topic of several analyst reports. Barclays lifted their target price on TAKE-TWO INTERACTIVE SOFTWARE from $138.00 to $150.00 and gave the company an “overweight” rating in a research report on Thursday, May 21st. BidaskClub upgraded TAKE-TWO INTERACTIVE SOFTWARE from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Stifel Nicolaus lowered their target price on TAKE-TWO INTERACTIVE SOFTWARE from $142.00 to $135.00 and set a “buy” rating on the stock in a research report on Monday, March 2nd. Benchmark lifted their target price on TAKE-TWO INTERACTIVE SOFTWARE from $142.00 to $149.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Finally, Zacks Investment Research downgraded TAKE-TWO INTERACTIVE SOFTWARE from a “strong-buy” rating to a “hold” rating and set a $147.00 target price on the stock. in a research report on Friday, June 5th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. TAKE-TWO INTERACTIVE SOFTWARE currently has a consensus rating of “Buy” and an average price target of $144.79.

Shares of TTWO traded up $0.78 during trading hours on Monday, hitting $141.18. The stock had a trading volume of 2,465,567 shares, compared to its average volume of 2,191,695. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.71 and a quick ratio of 1.70. TAKE-TWO INTERACTIVE SOFTWARE has a 12 month low of $100.00 and a 12 month high of $149.28. The firm has a market capitalization of $15.92 billion, a PE ratio of 39.88, a PEG ratio of 9.87 and a beta of 0.58. The stock has a fifty day moving average price of $135.57 and a 200 day moving average price of $123.88.

In other TAKE-TWO INTERACTIVE SOFTWARE news, insider Daniel P. Emerson sold 213 shares of the business’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $123.61, for a total transaction of $26,328.93. Following the sale, the insider now directly owns 49,925 shares of the company’s stock, valued at $6,171,229.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Strauss Zelnick sold 216,665 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $118.97, for a total value of $25,776,635.05. The disclosure for this sale can be found here. Insiders have sold 264,735 shares of company stock worth $32,223,604 over the last three months. 1.20% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTWO. Melvin Capital Management LP grew its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 207.5% during the first quarter. Melvin Capital Management LP now owns 3,382,830 shares of the company’s stock valued at $401,237,000 after buying an additional 2,282,830 shares during the last quarter. AJO LP grew its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 4,731.5% during the fourth quarter. AJO LP now owns 1,395,230 shares of the company’s stock valued at $170,817,000 after buying an additional 1,366,352 shares during the last quarter. Norges Bank bought a new position in shares of TAKE-TWO INTERACTIVE SOFTWARE during the fourth quarter valued at approximately $141,296,000. Morgan Stanley grew its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 297.7% during the first quarter. Morgan Stanley now owns 1,454,161 shares of the company’s stock valued at $172,478,000 after buying an additional 1,088,556 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in shares of TAKE-TWO INTERACTIVE SOFTWARE by 663.2% during the fourth quarter. Prudential Financial Inc. now owns 797,603 shares of the company’s stock valued at $97,650,000 after buying an additional 693,100 shares during the last quarter. 92.27% of the stock is currently owned by hedge funds and other institutional investors.

About TAKE-TWO INTERACTIVE SOFTWARE

Take-Two Interactive Software, Inc develops, publishes, and markets interactive entertainment solutions for consumers worldwide. The company offers its products under the Rockstar Games and 2K labels, as well as under Private Division and Social Point labels. It develops and publishes action/adventure products under the Grand Theft Auto, Max Payne, Midnight Club, and Red Dead names through developing sequels; and offers downloadable episodes, content and virtual currency, and releasing titles for smartphones and tablets.

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Earnings History and Estimates for TAKE-TWO INTERACTIVE SOFTWARE (NASDAQ:TTWO)

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