$1.17 Billion in Sales Expected for Electronic Arts Inc. (EA) This Quarter
Wall Street brokerages 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. The lowest sales estimate is $1.16 billion and the highest is $1.17 billion. Electronic Arts reported sales of $1.10 billion during the same quarter last year, which indicates a positive year over year growth rate of 6.4%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Electronic Arts will report full year sales of $1.17 billion for the current financial year, with estimates ranging from $5.11 billion to $5.22 billion. For the next fiscal year, analysts expect that the firm will report sales of $5.63 billion per share, with estimates ranging from $5.41 billion to $5.75 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Electronic Arts.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company had revenue of $775.00 million during the quarter, compared to analysts’ expectations of $768.47 million. During the same period in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.
Several equities research analysts have recently commented on the company. Benchmark Co. upped their price objective on Electronic Arts from $114.00 to $131.00 and gave the stock a “buy” rating in a research note on Tuesday, June 20th. KeyCorp reaffirmed a “buy” rating and issued a $134.00 target price on shares of Electronic Arts in a report on Friday, August 25th. Vetr upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, July 4th. Zacks Investment Research downgraded Electronic Arts from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Jefferies Group LLC reissued a “buy” rating and set a $135.00 price target on shares of Electronic Arts in a report on Thursday, August 31st. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $118.09.
Shares of Electronic Arts (EA) opened at 117.96 on Wednesday. The company’s 50-day moving average price is $118.39 and its 200-day moving average price is $108.07. The stock has a market cap of $36.42 billion, a PE ratio of 31.58 and a beta of 0.70. Electronic Arts has a one year low of $73.74 and a one year high of $122.79.
In other news, CEO Andrew Wilson sold 10,058 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $117.00, for a total value of $1,176,786.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $120.77, for a total transaction of $120,770.00. The disclosure for this sale can be found here. Insiders have sold 185,538 shares of company stock worth $22,021,739 over the last three months. 2.55% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America lifted its stake 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 worth $107,000 after acquiring an additional 34 shares during the last quarter. Invictus RG boosted its holdings in Electronic Arts by 722.0% during the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock valued at $117,000 after acquiring an additional 1,148 shares during the period. D. Scott Neal Inc. purchased a new position in Electronic Arts during the 2nd quarter valued at $120,000. Tower Research Capital LLC TRC boosted its holdings in Electronic Arts by 310.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock valued at $149,000 after acquiring an additional 1,063 shares during the period. Finally, Captrust Financial Advisors purchased a new position in Electronic Arts during the 2nd quarter valued at $195,000. 93.84% of the stock is owned by hedge funds and other institutional investors.
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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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