StockNews.com Begins Coverage on Electronic Arts (NASDAQ:EA)

StockNews.com initiated coverage on shares of Electronic Arts (NASDAQ:EA – Get Rating) in a research note published on Thursday morning. The brokerage issued a buy rating on the game software company’s stock.

EA has been the subject of several other research reports. TheStreet downgraded Electronic Arts from a b- rating to a c+ rating in a report on Thursday, February 23rd. Citigroup lowered their price objective on shares of Electronic Arts from $147.00 to $131.00 and set a buy rating on the stock in a report on Thursday, February 9th. Truist Financial dropped their price objective on shares of Electronic Arts from $150.00 to $130.00 and set a buy rating on the stock in a research note on Wednesday, February 1st. Credit Suisse Group decreased their target price on shares of Electronic Arts from $154.00 to $132.00 in a research report on Wednesday, February 1st. Finally, Wedbush dropped their price target on shares of Electronic Arts from $164.00 to $139.00 in a research report on Wednesday, February 1st. Ten analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $135.54.

Electronic Arts Stock Down 0.2 %

Shares of NASDAQ EA opened at $113.35 on Thursday. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.25. The firm has a market cap of $31.29 billion, a PE ratio of 30.55, a P/E/G ratio of 8.46 and a beta of 0.86. The company’s fifty day simple moving average is $117.00 and its 200 day simple moving average is $122.04. Electronic Arts has a 12-month low of $108.53 and a 12-month high of $142.79.

Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly earnings data on Tuesday, January 31st. The game software company reported $0.73 earnings per share for the quarter, missing the consensus estimate of $2.62 by ($1.89). The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.50 billion. Electronic Arts had a net margin of 14.08% and a return on equity of 14.38%. During the same quarter in the prior year, the company posted $2.80 EPS. Electronic Arts’s revenue for the quarter was down 9.1% on a year-over-year basis. As a group, sell-side analysts forecast that Electronic Arts will post 4.44 earnings per share for the current fiscal year.

Electronic Arts Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 22nd. Investors of record on Wednesday, March 1st will be issued a dividend of $0.19 per share. The ex-dividend date is Tuesday, February 28th. This represents a $0.76 dividend on an annualized basis and a yield of 0.67%. Electronic Arts’s dividend payout ratio (DPR) is presently 20.49%.

Insider Buying and Selling

In related news, CEO Andrew Wilson sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $120.84, for a total transaction of $604,200.00. Following the completion of the sale, the chief executive officer now owns 85,274 shares in the company, valued at $10,304,510.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Electronic Arts news, insider Vijayanthimala Singh sold 800 shares of the stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $116.78, for a total transaction of $93,424.00. Following the completion of the transaction, the insider now owns 25,355 shares in the company, valued at $2,960,956.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Andrew Wilson sold 5,000 shares of the stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $120.84, for a total transaction of $604,200.00. Following the transaction, the chief executive officer now owns 85,274 shares of the company’s stock, valued at approximately $10,304,510.16. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,100 shares of company stock worth $1,626,881. Insiders own 0.37% of the company’s stock.

Hedge Funds Weigh In On Electronic Arts

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC boosted its position in shares of Electronic Arts by 11.7% in the first quarter. Cetera Advisor Networks LLC now owns 3,466 shares of the game software company’s stock valued at $439,000 after acquiring an additional 363 shares during the period. Raymond James Trust N.A. boosted its position in shares of Electronic Arts by 8.4% in the first quarter. Raymond James Trust N.A. now owns 4,459 shares of the game software company’s stock valued at $564,000 after acquiring an additional 347 shares during the period. Cibc World Market Inc. boosted its position in shares of Electronic Arts by 3.8% in the first quarter. Cibc World Market Inc. now owns 14,997 shares of the game software company’s stock valued at $1,897,000 after acquiring an additional 548 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Electronic Arts by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 866,675 shares of the game software company’s stock valued at $109,653,000 after acquiring an additional 13,934 shares during the period. Finally, Prudential PLC boosted its position in shares of Electronic Arts by 208.9% in the first quarter. Prudential PLC now owns 14,112 shares of the game software company’s stock valued at $1,785,000 after acquiring an additional 9,544 shares during the period. Institutional investors own 89.46% of the company’s stock.

About Electronic Arts

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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, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.