Video Game Investors: 3 Key Reports Are Coming

In a report published Monday, Credit Suisse analysts mentioned that they have updated their estimates for video game companies to factor in the US dollar appreciation versus the major global currencies. The analysts maintained an Outperform rating on

, which is scheduled to report its 1QFY15 results on May 6. In the report Credit Suisse noted, "…for 2Q15 and beyond we have modeled the following (in order of importance): 1) Added 3 million units of Guitar Hero Live, 2) removed Diablo III console along several other licensed titles, 3) modestly Reduced Skylanders and Call of Duty unit volume estimates." The analysts "remain on the lookout" for incremental changes to the releases scheduled for this year, since Activision is likely to announce one more franchise set for release in 2015. The EPS estimates for 2015, 2016 and 2017 have been reduced from $1.16 to $1.11 from $1.47 to $1.45 and from $1.64 to $1.62, respectively. The price target is set to $28. The analysts maintained an Outperform rating on

, which is scheduled to report its 4QFY15 results on May 5. "We have made extensive changes to our longer term estimates: 1) Added free to play versions of Need for Speed and Battlefield, 2) removed of long term MMORPG products from our release slate for FY20 and FY21 3) increased growth trajectory for mobile game revenue by an incremental $100m per year, 4) explicit contribution from Madden Ultimate Team," the report mentioned. The EPS estimates for 2015, 2016 and 2017 have been reduced from $2.35 to $2.32 from $2.38 to $2.35 and from $2.98 to $3.21, respectively. The price target has been raised from $56 to $68. The analysts maintained a Neutral rating on

, which is scheduled to report its 4QFY15 results on May 18. "We have made the following adjustments to our model: 1) shifted GTA V PC SKU to 1QFY16 2) removed Agent from our release slate 3) increased our estimates for Evolve 4) Added a WWE 2k15 PC SKU to 1QFY16," the analysts said. The EPS estimates for FY15, FY16 and FY17 have been reduced from $0.27 to $0.25, from $1.28 to $0.98 and from $3.48 to $3.35, respectively. The price target has been reduced from $33 to $32.