SunTrust Banks, Inc. Begins Coverage on Electronic Arts Inc. (EA)
SunTrust Banks, Inc. assumed coverage on shares of Electronic Arts Inc. (NASDAQ:EA) in a research report issued to clients and investors on Tuesday, The Fly reports. The firm set a “buy” rating on the game software company’s stock.
A number of other analysts have also recently weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and set a $135.00 target price on shares of Electronic Arts in a report on Thursday, August 31st. BidaskClub upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st. Benchmark Co. upped their price target on shares of Electronic Arts from $136.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, September 13th. Buckingham Research assumed coverage on shares of Electronic Arts in a research report on Wednesday, September 20th. They set a “buy” rating and a $143.00 price target for the company. Finally, Stifel Nicolaus restated a “buy” rating and set a $127.00 price target on shares of Electronic Arts in a research report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $120.93.
Electronic Arts (NASDAQ:EA) traded down 0.67% during midday trading on Tuesday, reaching $117.82. 1,558,231 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $118.61 and its 200 day moving average is $109.17. The firm has a market capitalization of $36.37 billion, a P/E ratio of 31.54 and a beta of 0.70. Electronic Arts has a 52 week low of $73.74 and a 52 week high of $122.79.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $775.00 million during the quarter, compared to the consensus estimate of $768.47 million. During the same period in the previous year, the firm earned $0.07 earnings per share. Electronic Arts’s revenue for the quarter was up 13.6% on a year-over-year basis. On average, analysts expect that Electronic Arts will post $4.25 EPS for the current fiscal year.
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In other news, EVP Kenneth A. Moss sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $116.72, for a total transaction of $583,600.00. Following the sale, the executive vice president now owns 99,449 shares in the company, valued at approximately $11,607,687.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Blake J. Jorgensen sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $118.43, for a total value of $1,184,300.00. The disclosure for this sale can be found here. Insiders sold a total of 207,096 shares of company stock worth $24,570,436 in the last 90 days. Company insiders own 2.55% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. Guardian Life Insurance Co. of America increased its holdings 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 increased its holdings in shares of Electronic Arts by 722.0% during the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after acquiring an additional 1,148 shares during the last quarter. D. Scott Neal Inc. acquired a new position in shares of Electronic Arts during the 2nd quarter worth approximately $120,000. Tower Research Capital LLC TRC increased its holdings in shares of 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 worth $149,000 after acquiring an additional 1,063 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new position in shares of Electronic Arts during the 2nd quarter worth approximately $195,000. Institutional investors own 93.84% of the company’s stock.
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.
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