$1.17 Billion in Sales Expected for Electronic Arts Inc. (EA) This Quarter
Wall Street brokerages expect Electronic Arts Inc. (NASDAQ:EA) to post $1.17 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have made estimates for Electronic Arts’ earnings, with the highest sales estimate coming in at $1.17 billion and the lowest estimate coming in at $1.16 billion. Electronic Arts reported sales of $1.10 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 6.4%. The firm is expected to issue its next quarterly earnings report after the market closes on Tuesday, October 31st.
On average, analysts expect that Electronic Arts will report full-year sales of $1.17 billion for the current fiscal year, with estimates ranging from $5.11 billion to $5.24 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $5.66 billion per share, with estimates ranging from $5.41 billion to $5.94 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow Electronic Arts.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.14 by $0.22. The firm had revenue of $775.00 million during the quarter, compared to analysts’ expectations of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share.
A number of research analysts have commented on the company. BidaskClub raised Electronic Arts from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. KeyCorp reiterated a “buy” rating on shares of Electronic Arts in a report on Sunday, July 30th. Needham & Company LLC reiterated a “buy” rating and set a $130.00 target price on shares of Electronic Arts in a report on Friday, October 13th. Morgan Stanley reiterated an “overweight” rating and set a $128.00 target price (up previously from $126.00) on shares of Electronic Arts in a report on Monday, October 2nd. Finally, Benchmark Co. upped their target price on Electronic Arts from $136.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, September 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $121.31.
Electronic Arts (EA) opened at 113.62 on Monday. The company has a market capitalization of $35.08 billion, a PE ratio of 30.42 and a beta of 0.69. The company has a 50-day moving average price of $117.80 and a 200 day moving average price of $110.37. Electronic Arts has a 12 month low of $73.74 and a 12 month high of $122.79.
In other Electronic Arts news, Director Lawrence F. Probst III sold 55,850 shares of the 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 completion of the sale, the director now owns 171,123 shares in the company, valued at approximately $20,736,685.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $115.25, for a total value of $1,152,500.00. Following the completion of the sale, the chief financial officer now owns 209,614 shares of the company’s stock, valued at approximately $24,158,013.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 197,096 shares of company stock worth $23,460,336. 2.55% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the business. Invictus RG increased its stake in Electronic Arts by 722.0% in the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares in the last quarter. D. Scott Neal Inc. purchased a new stake in Electronic Arts in the 2nd quarter worth $120,000. Tower Research Capital LLC TRC increased its stake in Electronic Arts by 310.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after buying an additional 1,063 shares in the last quarter. Captrust Financial Advisors purchased a new stake in Electronic Arts in the 2nd quarter worth $195,000. Finally, Two Sigma Securities LLC purchased a new stake in Electronic Arts in the 1st quarter worth $205,000. Institutional investors and hedge funds own 93.81% of the company’s stock.
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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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