Equities research analysts expect Electronic Arts (NASDAQ:EA) to post sales of $744.50 million for the current quarter, according to Zacks. Ten analysts have issued estimates for Electronic Arts’ earnings, with estimates ranging from $721.78 million to $769.65 million. Electronic Arts reported sales of $774.00 million in the same quarter last year, which indicates a negative year over year growth rate of 3.8%. The business is expected to announce its next earnings results on Thursday, July 26th.
On average, analysts expect that Electronic Arts will report full year sales of $5.59 billion for the current year, with estimates ranging from $5.30 billion to $5.74 billion. For the next year, analysts forecast that the business will post sales of $5.93 billion per share, with estimates ranging from $5.80 billion to $6.03 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Electronic Arts.
A number of research analysts have recently commented on the company. Wedbush set a $138.00 target price on Electronic Arts and gave the company a “buy” rating in a research note on Thursday, May 3rd. Zacks Investment Research raised Electronic Arts from a “sell” rating to a “hold” rating in a research note on Monday, May 14th. SunTrust Banks set a $140.00 target price on Electronic Arts and gave the company a “buy” rating in a research note on Wednesday, May 16th. Needham & Company LLC upped their target price on Electronic Arts from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, January 31st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $145.00 target price on shares of Electronic Arts in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Electronic Arts presently has an average rating of “Buy” and a consensus target price of $139.92.
In other Electronic Arts news, CEO Andrew Wilson sold 9,000 shares of the stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $122.94, for a total transaction of $1,106,460.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Jay C. Hoag sold 1,133 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $124.01, for a total value of $140,503.33. The disclosure for this sale can be found here. In the last three months, insiders sold 186,696 shares of company stock worth $23,792,489. 2.55% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in EA. Carmignac Gestion bought a new stake in Electronic Arts during the 1st quarter valued at $288,674,000. Brown Advisory Inc. lifted its holdings in shares of Electronic Arts by 25,746.6% during the 4th quarter. Brown Advisory Inc. now owns 2,096,933 shares of the game software company’s stock valued at $220,305,000 after purchasing an additional 2,088,820 shares during the last quarter. Egerton Capital UK LLP purchased a new stake in shares of Electronic Arts during the 4th quarter valued at $184,412,000. BlackRock Inc. lifted its holdings in shares of Electronic Arts by 6.7% during the 1st quarter. BlackRock Inc. now owns 22,724,888 shares of the game software company’s stock valued at $2,755,165,000 after purchasing an additional 1,427,595 shares during the last quarter. Finally, Flossbach Von Storch AG purchased a new stake in shares of Electronic Arts during the 4th quarter valued at $139,782,000. 93.59% of the stock is currently owned by institutional investors and hedge funds.
EA stock traded down $2.02 during midday trading on Monday, reaching $131.48. 3,319,279 shares of the company traded hands, compared to its average volume of 3,532,020. Electronic Arts has a 52-week low of $99.63 and a 52-week high of $134.61. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.41 and a quick ratio of 1.92. The company has a market cap of $40.54 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 2.07 and a beta of 0.82.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.
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