What to Expect When Take-Two Reports Late Monday
Take-Two is scheduled to release its fiscal fourth-quarter financial results after the markets close on Monday, and the consensus forecast sees solid year-over-year growth.
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Take-Two Interactive Software Inc. (NASDAQ: TTWO | TTWO Price Prediction) is scheduled to release its fiscal fourth-quarter financial results after the markets close on Monday. The consensus estimates are calling for $0.75 in earnings per share (EPS) and $506.46 million in revenue. The same period of last year reportedly had $0.70 in EPS and $411.37 million in revenue.
In the fiscal third quarter, Take-Two issued guidance for this quarter of EPS in the range of $0.67 to $0.77 with net revenue between $530 million and $580 million and net bookings of $450 million to $500 million.
Take-Two delivered better than expected results in the fiscal third quarter. The outperformance was driven primarily by the record-breaking launch of “Red Dead Redemption 2,” along with strong results from “NBA 2K19,” which was one of the best-selling video games of 2018.
Additionally, consumers engaged significantly with Take-Two offerings, and recurrent consumer spending grew 31% to a new record. The largest contributors to net revenue in the most recent quarter were “Red Dead Redemption 2”; “NBA 2K19” and “NBA 2K18”; “Grand Theft Auto Online” and “Grand Theft Auto V”; “WWE 2K19” and “WWE SuperCard”; “Dragon City” and “Monster Legends”; and “Sid Meier’s Civilization VI.”
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Excluding Monday’s move, Take-Two stock has underperformed the broad markets, with shares flat year to date. In the past 52 weeks, the stock is down 11%.
A few analysts weighed in on Take-Two ahead of the results:
- Wedbush has a Buy rating with a $119 price target.
- Cowen has an Outperform rating with a $113 price target.
- Morgan Stanley has an Overweight rating and a $120 target.
- Stephens rates it as a Buy with a $110 price target.
- BMO Capital Markets has an Underperform rating.
Shares of Take-Two were last seen down more than 2% at $100.70, in a 52-week range of $84.41 to $139.91. The consensus price target is $122.44.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
