Barclays Lowers Electronic Arts (NASDAQ:EA) to Equal Weight

Electronic Arts (NASDAQ:EA) was downgraded by equities research analysts at Barclays from an “overweight” rating to an “equal weight” rating in a report released on Monday, The Fly reports. They presently have a $99.00 target price on the game software company’s stock, down from their previous target price of $104.00. Barclays‘s target price would suggest a potential upside of 3.33% from the company’s current price. The analysts noted that the move was a valuation call.

Other analysts also recently issued reports about the company. Zacks Investment Research raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.00 price target for the company in a report on Friday, August 2nd. Piper Jaffray Companies reaffirmed a “buy” rating on shares of Electronic Arts in a report on Wednesday, September 18th. Wedbush reiterated an “outperform” rating and set a $112.00 target price on shares of Electronic Arts in a research report on Wednesday, September 4th. Berenberg Bank set a $110.00 target price on Electronic Arts and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Finally, TheStreet upgraded Electronic Arts from a “c+” rating to a “b” rating in a research report on Tuesday, July 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have issued a buy rating to the stock. Electronic Arts presently has a consensus rating of “Buy” and a consensus target price of $110.54.

Shares of NASDAQ EA opened at $95.81 on Monday. The company has a market capitalization of $28.04 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 4.41 and a beta of 0.95. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.52 and a quick ratio of 3.52. The business has a 50-day moving average of $95.02 and a two-hundred day moving average of $94.58. Electronic Arts has a 1 year low of $73.91 and a 1 year high of $108.80.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.10). The business had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $724.55 million. Electronic Arts had a return on equity of 19.63% and a net margin of 42.75%. As a group, equities research analysts expect that Electronic Arts will post 3.73 earnings per share for the current year.

In other Electronic Arts news, insider Laura Miele sold 785 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $93.25, for a total transaction of $73,201.25. Following the transaction, the insider now owns 13,077 shares in the company, valued at approximately $1,219,430.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $95.07, for a total value of $855,630.00. The disclosure for this sale can be found here. Insiders sold a total of 58,774 shares of company stock worth $5,609,608 in the last 90 days. 2.18% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in EA. First Trust Advisors LP boosted its stake in shares of Electronic Arts by 19.1% during the 1st quarter. First Trust Advisors LP now owns 89,017 shares of the game software company’s stock worth $9,047,000 after acquiring an additional 14,275 shares in the last quarter. WT Asset Management Ltd purchased a new stake in shares of Electronic Arts during the 1st quarter worth approximately $19,529,000. Boothe Investment Group Inc. purchased a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $3,445,000. Fulton Bank N.A. boosted its stake in shares of Electronic Arts by 17.7% during the 2nd quarter. Fulton Bank N.A. now owns 12,962 shares of the game software company’s stock worth $1,313,000 after acquiring an additional 1,946 shares in the last quarter. Finally, Douglas Lane & Associates LLC purchased a new stake in shares of Electronic Arts during the 2nd quarter worth approximately $1,816,000. Institutional investors own 92.45% of the company’s stock.

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.

Featured Article: Understanding Options Trading

The Fly

Analyst Recommendations for Electronic Arts (NASDAQ:EA)

Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.