Wall Street brokerages forecast that Electronic Arts Inc. (NASDAQ:EA) will report $1.24 billion in sales for the current quarter, Zacks reports. Ten analysts have provided estimates for Electronic Arts’ earnings, with the lowest sales estimate coming in at $1.23 billion and the highest estimate coming in at $1.27 billion. Electronic Arts reported sales of $1.22 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 1.6%. The business is expected to issue its next earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that Electronic Arts will report full year sales of $5.17 billion for the current fiscal year, with estimates ranging from $5.13 billion to $5.20 billion. For the next year, analysts forecast that the firm will post sales of $5.48 billion, with estimates ranging from $5.25 billion to $5.99 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Electronic Arts.
Electronic Arts (NASDAQ:EA) last posted its earnings results on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.10). The company had revenue of $743.00 million during the quarter, compared to the consensus estimate of $724.55 million. Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%.
EA has been the subject of a number of research reports. Jefferies Financial Group set a $100.00 target price on shares of Electronic Arts and gave the stock a “hold” rating in a report on Wednesday, July 31st. Citigroup initiated coverage on shares of Electronic Arts in a report on Friday, June 7th. They issued a “neutral” rating and a $102.00 target price for the company. KeyCorp initiated coverage on shares of Electronic Arts in a report on Monday, July 29th. They issued a “sector weight” rating for the company. Stephens reissued a “buy” rating on shares of Electronic Arts in a report on Wednesday, August 21st. Finally, BidaskClub raised shares of Electronic Arts from a “sell” rating to a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $110.64.
In other Electronic Arts news, CEO Andrew Wilson sold 29,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.10, for a total transaction of $2,931,900.00. Following the completion of the sale, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $2,022,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Chris Bruzzo sold 9,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $101.38, for a total transaction of $912,420.00. Following the sale, the insider now directly owns 45,771 shares of the company’s stock, valued at approximately $4,640,263.98. The disclosure for this sale can be found here. Insiders sold 95,074 shares of company stock valued at $9,331,897 in the last ninety days. 2.18% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. Wetherby Asset Management Inc. grew its position in shares of Electronic Arts by 2.4% during the 1st quarter. Wetherby Asset Management Inc. now owns 4,521 shares of the game software company’s stock worth $459,000 after buying an additional 107 shares during the period. Resources Investment Advisors Inc. grew its position in shares of Electronic Arts by 9.8% during the 1st quarter. Resources Investment Advisors Inc. now owns 1,293 shares of the game software company’s stock worth $131,000 after buying an additional 115 shares during the period. GYL Financial Synergies LLC grew its position in shares of Electronic Arts by 2.8% during the 2nd quarter. GYL Financial Synergies LLC now owns 4,355 shares of the game software company’s stock worth $441,000 after buying an additional 118 shares during the period. Veritable L.P. grew its position in shares of Electronic Arts by 1.9% during the 2nd quarter. Veritable L.P. now owns 6,584 shares of the game software company’s stock worth $667,000 after buying an additional 124 shares during the period. Finally, Signaturefd LLC grew its position in shares of Electronic Arts by 5.4% during the 1st quarter. Signaturefd LLC now owns 2,578 shares of the game software company’s stock worth $262,000 after buying an additional 132 shares during the period. 92.66% of the stock is owned by institutional investors and hedge funds.
EA stock opened at $98.34 on Tuesday. The stock has a market capitalization of $29.32 billion, a P/E ratio of 25.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.97. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.15. Electronic Arts has a 12 month low of $73.91 and a 12 month high of $121.30. The firm has a 50-day moving average price of $92.84 and a 200-day moving average price of $95.09.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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