Take-Two (TTWO) Shares Quiet Ahead of Today's Q1 Results
TTWO Hot Sheet
EPS Growth %: -233.3%Financial Fact:
Continuing operations (in dollars per share): -0.78
Today's EPS Names:
TARO, BRLI, TLB, More
Take-Two Interactive (NASDAQ: TTWO) shares are trading down modestly ahead of the company's first quarter earnings release expected after the market closes on Wednesday, March 3, 2010.
The company is expected to post a loss of $0.50 per share with revenues of $132.43 million. Last quarter, Q409, Take-Two put up EPS of $0.09 on revs of $343.4 million -- both topping views. Looking back a full year to Q1 of 2009, the company reported a quarterly loss of $0.52 on sales of $256.8 million, once again ahead of analysts estimates.
Shares of TTWO moved down 8.4% throughout the last quarter and gained 32.9% through 2009. year-to-date, the stock is down 6.1%.
Cash on the balance sheet for Q309 was $102.08 million, down 63.6% from the same period in 2008.
Data from Bloomberg shows that 5 analysts have a Buy rating on the company, 14 have a Hold, and 1 recommend to Sell. Analyst's average price target is $10.27, the 'Street high' target is $13, and the low is $8.
News Through Q110
Not much happened in November 2009 for Take-Two, but the company made headlines in early December when they lowered their guidance largely in part to the performance of their Major League Baseball titles through the fourth quarter. They expected a Q110 non-GAAP loss/share of $0.40 - $0.50, and revs of $210 - $260 million.
Investor Carl Icahn revealed that he had an 11.3% stake in the company, and felt that the shares were undervalued.
The company then sold its subsidiary, Jack of All Games, to SYNNEX (NYSE: SNX), and revised its guidance as a result. They see a Q110 adjusted loss of $0.45 - $0.55 per share, and sales of $90 - $140 million.
At the end of January, Icahn revealed a boosted stake in the company to 12.3%.
Analyst Ratings Through Q110
Its safe to say that most major ratings firms downgraded TTWO after their inital lowering of guidance in early-December. Firms such as Bream Murray, Kaufman Bros., Cowen & Co., MKM Partners, Gabelli & Co., Janco Partners all downgraded the interactive electronics company by mid-December.
Kaufman Bros. then upgraded TTWO after its Q409 earnings release. They saw the stock as stabilized post-earnings, after numbers came in in-line.
Sterne Agee upgrades from Neutral to Buy.
Hilliard Lyons upgraded from Neutral to Buy in late-January, with a price target $12.
Summary
Take-Two looks to have had a rough first quarter. MLB outlook and sales encouraged management to lower guidance, far below Street estimates. The company then re-lowered its guidance after selling their Jack of All Games subsidiary, though not as drastically. They received many downgrades, but got a few upgrades after reporting Q409 results in-line with expectations.
More inportantly, investor Carl Icahn increased his stake in the company, providing some assurance for at least a possible bottom.
Stay tuned to Streetinsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
The company is expected to post a loss of $0.50 per share with revenues of $132.43 million. Last quarter, Q409, Take-Two put up EPS of $0.09 on revs of $343.4 million -- both topping views. Looking back a full year to Q1 of 2009, the company reported a quarterly loss of $0.52 on sales of $256.8 million, once again ahead of analysts estimates.
Shares of TTWO moved down 8.4% throughout the last quarter and gained 32.9% through 2009. year-to-date, the stock is down 6.1%.
Cash on the balance sheet for Q309 was $102.08 million, down 63.6% from the same period in 2008.
Data from Bloomberg shows that 5 analysts have a Buy rating on the company, 14 have a Hold, and 1 recommend to Sell. Analyst's average price target is $10.27, the 'Street high' target is $13, and the low is $8.
News Through Q110
Not much happened in November 2009 for Take-Two, but the company made headlines in early December when they lowered their guidance largely in part to the performance of their Major League Baseball titles through the fourth quarter. They expected a Q110 non-GAAP loss/share of $0.40 - $0.50, and revs of $210 - $260 million.
Investor Carl Icahn revealed that he had an 11.3% stake in the company, and felt that the shares were undervalued.
The company then sold its subsidiary, Jack of All Games, to SYNNEX (NYSE: SNX), and revised its guidance as a result. They see a Q110 adjusted loss of $0.45 - $0.55 per share, and sales of $90 - $140 million.
At the end of January, Icahn revealed a boosted stake in the company to 12.3%.
Analyst Ratings Through Q110
Its safe to say that most major ratings firms downgraded TTWO after their inital lowering of guidance in early-December. Firms such as Bream Murray, Kaufman Bros., Cowen & Co., MKM Partners, Gabelli & Co., Janco Partners all downgraded the interactive electronics company by mid-December.
Kaufman Bros. then upgraded TTWO after its Q409 earnings release. They saw the stock as stabilized post-earnings, after numbers came in in-line.
Sterne Agee upgrades from Neutral to Buy.
Hilliard Lyons upgraded from Neutral to Buy in late-January, with a price target $12.
Summary
Take-Two looks to have had a rough first quarter. MLB outlook and sales encouraged management to lower guidance, far below Street estimates. The company then re-lowered its guidance after selling their Jack of All Games subsidiary, though not as drastically. They received many downgrades, but got a few upgrades after reporting Q409 results in-line with expectations.
More inportantly, investor Carl Icahn increased his stake in the company, providing some assurance for at least a possible bottom.
Stay tuned to Streetinsider.com's Earnings section to see our analysis of the highly-anticipated quarterly results within seconds of their release.
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