Wall Street analysts forecast that Electronic Arts Inc. (NASDAQ:EA) will report sales of $1.18 billion for the current fiscal quarter, Zacks reports. Eleven analysts have issued estimates for Electronic Arts’ earnings, with estimates ranging from $1.16 billion to $1.20 billion. Electronic Arts also reported sales of $1.18 billion during the same quarter last year. The company is expected to issue its next earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that Electronic Arts will report full year sales of $5.59 billion for the current fiscal year, with estimates ranging from $5.54 billion to $5.63 billion. For the next year, analysts expect that the business will report sales of $5.97 billion per share, with estimates ranging from $5.87 billion to $6.09 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Electronic Arts.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 26th. The game software company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.19. The company had revenue of $749.00 million for the quarter, compared to analysts’ expectations of $742.86 million. Electronic Arts had a net margin of 14.30% and a return on equity of 25.31%. The firm’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the company earned $2.06 EPS.
A number of equities analysts recently commented on EA shares. Credit Suisse Group lifted their target price on shares of Electronic Arts from $143.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 25th. BidaskClub upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating in a research report on Saturday, May 12th. Oppenheimer boosted their price objective on shares of Electronic Arts from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Wednesday, May 9th. SunTrust Banks set a $140.00 price objective on shares of Electronic Arts and gave the company a “buy” rating in a research report on Wednesday, May 16th. Finally, UBS Group upgraded shares of Electronic Arts to a “positive” rating in a research report on Thursday, July 12th. Five equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus target price of $147.95.
In related news, insider Kenneth A. Barker sold 4,050 shares of the business’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $132.27, for a total transaction of $535,693.50. Following the transaction, the insider now owns 15,517 shares in the company, valued at $2,052,433.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Andrew Wilson sold 10,309 shares of the business’s stock in a transaction dated Wednesday, May 23rd. The shares were sold at an average price of $132.17, for a total transaction of $1,362,540.53. The disclosure for this sale can be found here. Insiders have sold 123,109 shares of company stock worth $16,592,454 in the last quarter. 2.24% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in EA. Covington Capital Management boosted its stake in Electronic Arts by 7.5% during the first quarter. Covington Capital Management now owns 12,195 shares of the game software company’s stock worth $1,479,000 after acquiring an additional 851 shares in the last quarter. Trellus Management Company LLC bought a new stake in Electronic Arts during the second quarter worth about $1,340,000. Mackay Shields LLC bought a new stake in Electronic Arts during the first quarter worth about $6,284,000. First Bank & Trust boosted its stake in Electronic Arts by 11.0% during the second quarter. First Bank & Trust now owns 5,235 shares of the game software company’s stock worth $738,000 after acquiring an additional 520 shares in the last quarter. Finally, Profund Advisors LLC boosted its stake in Electronic Arts by 3.1% during the first quarter. Profund Advisors LLC now owns 25,121 shares of the game software company’s stock worth $3,046,000 after acquiring an additional 759 shares in the last quarter. Institutional investors own 93.01% of the company’s stock.
NASDAQ:EA traded down $1.70 during trading hours on Thursday, reaching $128.01. The company’s stock had a trading volume of 3,734,216 shares, compared to its average volume of 3,463,849. The stock has a market cap of $40.03 billion, a PE ratio of 37.21, a PEG ratio of 2.04 and a beta of 0.61. Electronic Arts has a 1 year low of $99.63 and a 1 year high of $151.26. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.19.
Electronic Arts Company Profile
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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