Cowen and Company Reaffirms “Hold” Rating for Electronic Arts Inc. (EA)
Electronic Arts Inc. (NASDAQ:EA)‘s stock had its “hold” rating restated by research analysts at Cowen and Company in a report issued on Friday. They presently have a $106.00 target price on the game software company’s stock. Cowen and Company’s price objective would suggest a potential downside of 10.38% from the stock’s previous close.
Several other brokerages have also commented on EA. Benchmark Co. raised their price objective on shares of Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a report on Tuesday, June 20th. Credit Suisse Group restated a “buy” rating and issued a $114.00 price objective on shares of Electronic Arts in a report on Sunday, May 28th. Vetr lowered shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price objective for the company. in a report on Monday, May 22nd. KeyCorp restated a “buy” rating and issued a $134.00 price objective on shares of Electronic Arts in a report on Friday, August 25th. Finally, Robert W. Baird restated an “outperform” rating on shares of Electronic Arts in a report on Thursday, May 11th. Four research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. Electronic Arts currently has a consensus rating of “Buy” and a consensus price target of $116.77.
Shares of Electronic Arts (EA) traded down 0.55% during mid-day trading on Friday, reaching $118.28. The company had a trading volume of 2,424,349 shares. The firm has a 50-day moving average of $117.38 and a 200-day moving average of $104.16. Electronic Arts has a 12-month low of $73.74 and a 12-month high of $122.79. The company has a market capitalization of $36.52 billion, a P/E ratio of 31.67 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The business had revenue of $775 million during the quarter, compared to analyst estimates of $768.47 million. During the same period last year, the business posted $0.07 earnings per share. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. On average, equities analysts anticipate that Electronic Arts will post $4.24 earnings per share for the current fiscal year.
In other Electronic Arts news, Director Lawrence F. Probst III sold 55,850 shares of Electronic Arts stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $121.18, for a total value of $6,767,903.00. Following the completion of the sale, the director now owns 171,123 shares of the company’s stock, valued at approximately $20,736,685.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Andrew Wilson sold 10,058 shares of Electronic Arts stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $119.56, for a total transaction of $1,202,534.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 345,097 shares of company stock valued at $39,623,978. 2.55% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of EA. Guardian Life Insurance Co. of America grew its position in shares of Electronic Arts by 2.9% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock valued at $107,000 after acquiring an additional 34 shares during the period. ProVise Management Group LLC grew its position in shares of Electronic Arts by 0.8% during the 2nd quarter. ProVise Management Group LLC now owns 4,324 shares of the game software company’s stock valued at $458,000 after acquiring an additional 36 shares during the period. Jaffetilchin Investment Partners LLC grew its position in shares of Electronic Arts by 0.9% during the 1st quarter. Jaffetilchin Investment Partners LLC now owns 4,943 shares of the game software company’s stock valued at $442,000 after acquiring an additional 45 shares during the period. San Francisco Sentry Investment Group CA grew its position in shares of Electronic Arts by 1.4% during the 1st quarter. San Francisco Sentry Investment Group CA now owns 4,962 shares of the game software company’s stock valued at $444,000 after acquiring an additional 67 shares during the period. Finally, NEXT Financial Group Inc grew its position in shares of Electronic Arts by 0.6% during the 2nd quarter. NEXT Financial Group Inc now owns 12,316 shares of the game software company’s stock valued at $1,302,000 after acquiring an additional 70 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.
About Electronic Arts
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.
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