Earnings Preview: Take-Two (TTWO) Q4 Results on Tap
Take-Two Interactive Software, Inc. (NASDAQ: TTWO) plans to report financial results for its fourth quarter and fiscal year 2013, ended March 31, 2013, after the market close on Monday, May 13, 2013. Consensus calls for EPS of $0.23 on $280.4 million in revenue. Management is also expected to provide 2014 guidance and may give investors information related to the September release of Grand Theft Auto V.
Commenting, Wedbush analyst Michael Pachter said, "Management previously disclosed that it expected significant revenue and earnings growth in FY:14. We expect EPS guidance to be well above current consensus of $2.26, likely at $2.75 or so. Two years ago, management guided to EPS of over $2.00 for FY:13, a likely indication that GTA V was slated for a release that year. After further delays, a firm release date of September 17 was set; we expect GTA V to sell 20 million units in FY:14 and 24 million lifetime (an attach rate of 16% of current Xbox 360 and PS3 installed bases). The console launches later this year may impact catalog sales."
Analyst Todd Mitchell of Brean Capital said, "We look for results to come in at the high end of recent guidance, driven by solid sales of BioShock Infinite, but investors are already looking for Grand Theft Auto scheduled to be released in September to underpin fiscal 2014 non-GAAP EPS over $2.00. Of course, this was that same story a year ago. We think GTA should be able to buck recent weak trends in packaged goods, and we expect Take-Two to follow with a robust rollout of digital extensions, similar but in greater scope to Borderlands 2. Outside of GTV we do not anticipate a lineup for fiscal 2014 of equal quality to fiscal 2013; Borderlands 2 and BioShock Infinite in particular, but the company has announced a pair of incremental titles in XCOM and WWE, and we anticipate another iteration of NBA 2K. We also anticipate digital extensions and sell-through of BioShock to drive F1Q14."
Wedbush has an Outperform rating on Take-Two Interactive with a price target of $19.00.
Brean Capital has a Hold rating on Take-Two Interactive.
For an analyst ratings summary and ratings history on Take-Two Interactive (NASDAQ: TTWO) click here. For more ratings news on Take-Two Interactive click here.
Shares of Take-Two Interactive closed at $16.44 yesterday, with a 52 week range of $7.37-$16.68.
Commenting, Wedbush analyst Michael Pachter said, "Management previously disclosed that it expected significant revenue and earnings growth in FY:14. We expect EPS guidance to be well above current consensus of $2.26, likely at $2.75 or so. Two years ago, management guided to EPS of over $2.00 for FY:13, a likely indication that GTA V was slated for a release that year. After further delays, a firm release date of September 17 was set; we expect GTA V to sell 20 million units in FY:14 and 24 million lifetime (an attach rate of 16% of current Xbox 360 and PS3 installed bases). The console launches later this year may impact catalog sales."
Analyst Todd Mitchell of Brean Capital said, "We look for results to come in at the high end of recent guidance, driven by solid sales of BioShock Infinite, but investors are already looking for Grand Theft Auto scheduled to be released in September to underpin fiscal 2014 non-GAAP EPS over $2.00. Of course, this was that same story a year ago. We think GTA should be able to buck recent weak trends in packaged goods, and we expect Take-Two to follow with a robust rollout of digital extensions, similar but in greater scope to Borderlands 2. Outside of GTV we do not anticipate a lineup for fiscal 2014 of equal quality to fiscal 2013; Borderlands 2 and BioShock Infinite in particular, but the company has announced a pair of incremental titles in XCOM and WWE, and we anticipate another iteration of NBA 2K. We also anticipate digital extensions and sell-through of BioShock to drive F1Q14."
Wedbush has an Outperform rating on Take-Two Interactive with a price target of $19.00.
Brean Capital has a Hold rating on Take-Two Interactive.
For an analyst ratings summary and ratings history on Take-Two Interactive (NASDAQ: TTWO) click here. For more ratings news on Take-Two Interactive click here.
Shares of Take-Two Interactive closed at $16.44 yesterday, with a 52 week range of $7.37-$16.68.