Brokerages Anticipate Electronic Arts Inc. (EA) Will Announce Quarterly Sales of $1.17 Billion
Equities analysts expect that Electronic Arts Inc. (NASDAQ:EA) will post $1.17 billion in sales for the current quarter, according to Zacks. Five analysts have made estimates for Electronic Arts’ earnings, with the lowest sales estimate coming in at $1.16 billion and the highest estimate coming in at $1.17 billion. Electronic Arts posted sales of $1.10 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.4%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Electronic Arts will report full-year sales of $1.17 billion for the current year, with estimates ranging from $5.11 billion to $5.22 billion. For the next year, analysts anticipate that the firm will post sales of $5.63 billion per share, with estimates ranging from $5.41 billion to $5.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that cover Electronic Arts.
Electronic Arts (NASDAQ:EA) last announced its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The business had revenue of $775.00 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. Electronic Arts’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share.
EA has been the topic of a number of research analyst reports. Vetr cut Electronic Arts from a “buy” rating to a “hold” rating and set a $109.98 price target on the stock. in a report on Monday, May 22nd. Credit Suisse Group reissued a “buy” rating and issued a $114.00 price target on shares of Electronic Arts in a report on Sunday, May 28th. Morgan Stanley boosted their price target on Electronic Arts from $114.00 to $126.00 and gave the stock an “overweight” rating in a report on Wednesday, June 7th. Mizuho reaffirmed a “buy” rating and set a $115.00 price objective on shares of Electronic Arts in a report on Monday, June 12th. Finally, BidaskClub cut Electronic Arts from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Four research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Electronic Arts has an average rating of “Buy” and an average target price of $117.01.
In related news, CFO Blake J. Jorgensen sold 10,000 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $117.14, for a total transaction of $1,171,400.00. Following the completion of the transaction, the chief financial officer now directly owns 199,614 shares of the company’s stock, valued at approximately $23,382,783.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lawrence F. Probst III sold 55,850 shares of the business’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $121.18, for a total value of $6,767,903.00. Following the transaction, the director now directly owns 171,123 shares of the company’s stock, valued at $20,736,685.14. The disclosure for this sale can be found here. Insiders sold 195,097 shares of company stock worth $23,019,378 in the last 90 days. Company insiders own 2.55% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in shares of Electronic Arts by 3,420.8% in the 1st quarter. BlackRock Inc. now owns 20,764,484 shares of the game software company’s stock valued at $1,858,837,000 after purchasing an additional 20,174,721 shares during the last quarter. Winslow Capital Management LLC lifted its holdings in shares of Electronic Arts by 1,869,551.3% in the 1st quarter. Winslow Capital Management LLC now owns 2,879,263 shares of the game software company’s stock valued at $257,751,000 after purchasing an additional 2,879,109 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Electronic Arts by 8.8% in the 1st quarter. Vanguard Group Inc. now owns 29,631,771 shares of the game software company’s stock valued at $2,652,637,000 after purchasing an additional 2,394,314 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Electronic Arts by 928.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,586,064 shares of the game software company’s stock valued at $273,399,000 after purchasing an additional 2,334,600 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Electronic Arts by 174.5% during the 1st quarter. AQR Capital Management LLC now owns 2,180,565 shares of the game software company’s stock valued at $195,204,000 after acquiring an additional 1,386,296 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.
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Shares of Electronic Arts (NASDAQ EA) opened at 119.42 on Friday. The company has a 50-day moving average of $118.08 and a 200-day moving average of $105.34. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $122.79. The stock has a market capitalization of $36.87 billion, a P/E ratio of 31.97 and a beta of 0.68.
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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