Electronic Arts Inc. (EA) Upgraded to Hold by Vetr Inc.
Electronic Arts Inc. (NASDAQ:EA) was upgraded by equities research analysts at Vetr from a “sell” rating to a “hold” rating in a report issued on Monday. The brokerage presently has a $79.72 price objective on the game software company’s stock. Vetr‘s price objective suggests a potential downside of 3.47% from the stock’s previous close.
Other analysts have also issued reports about the company. BMO Capital Markets reiterated a “hold” rating on shares of Electronic Arts in a research report on Thursday, June 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $80.00 price objective on shares of Electronic Arts in a research report on Tuesday, July 12th. Macquarie restated an “outperform” rating and set a $80.00 target price on shares of Electronic Arts in a report on Friday, July 22nd. MKM Partners restated a “buy” rating and set a $84.00 target price on shares of Electronic Arts in a report on Sunday, May 15th. Finally, Jefferies Group restated a “buy” rating on shares of Electronic Arts in a report on Monday, July 18th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and a consensus target price of $88.81.
Shares of Electronic Arts (NASDAQ:EA) traded up 1.02% during midday trading on Monday, reaching $82.59. 2,658,305 shares of the company’s stock were exchanged. The company has a market capitalization of $24.84 billion, a PE ratio of 23.26 and a beta of 0.63. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $86.07. The firm has a 50-day moving average of $83.09 and a 200-day moving average of $75.63.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/16/electronic-arts-inc-ea-upgraded-to-hold-by-vetr-inc.html
Electronic Arts (NASDAQ:EA) last announced its earnings results on Tuesday, August 2nd. The game software company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.09. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The company earned $682 million during the quarter, compared to analyst estimates of $652.64 million. During the same period last year, the company posted $0.15 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Equities analysts expect that Electronic Arts will post $3.64 earnings per share for the current fiscal year.
In other news, CFO Blake J. Jorgensen sold 10,100 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $76.44, for a total transaction of $772,044.00. Following the completion of the sale, the chief financial officer now directly owns 109,700 shares in the company, valued at approximately $8,385,468. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Peter R. Moore sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $83.81, for a total value of $838,100.00. The disclosure for this sale can be found here. 3.46% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Sarasin & Partners LLP increased its stake in Electronic Arts by 2.5% in the third quarter. Sarasin & Partners LLP now owns 813,072 shares of the game software company’s stock worth $69,436,000 after buying an additional 19,866 shares during the last quarter. National Pension Service increased its stake in Electronic Arts by 8.6% in the third quarter. National Pension Service now owns 239,797 shares of the game software company’s stock worth $20,479,000 after buying an additional 19,018 shares during the last quarter. Private Trust Co. NA increased its stake in Electronic Arts by 19.5% in the third quarter. Private Trust Co. NA now owns 4,178 shares of the game software company’s stock worth $356,000 after buying an additional 683 shares during the last quarter. Highland Capital Management LLC bought a new stake in Electronic Arts during the third quarter worth $955,000. Finally, MSI Financial Services Inc increased its stake in Electronic Arts by 7.8% in the third quarter. MSI Financial Services Inc now owns 6,045 shares of the game software company’s stock worth $517,000 after buying an additional 435 shares during the last quarter.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Electronic Arts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.