Electronic Arts Inc. (EA) Announces Quarterly Earnings Results
Electronic Arts Inc. (NASDAQ:EA) posted its earnings results on Tuesday. The game software company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.66 by ($0.73), Briefing.com reports. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.18 billion. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. Electronic Arts’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.13) EPS.
Electronic Arts (EA) traded up 1.72% on Tuesday, hitting $119.60. 5,477,404 shares of the company were exchanged. Electronic Arts has a 52-week low of $73.74 and a 52-week high of $122.79. The stock’s 50-day moving average price is $117.27 and its 200-day moving average price is $111.88. The stock has a market capitalization of $36.92 billion, a P/E ratio of 32.02 and a beta of 0.70.
Several equities analysts have recently weighed in on EA shares. Zacks Investment Research upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Friday. KeyCorp reiterated a “buy” rating and issued a $134.00 price objective on shares of Electronic Arts in a research note on Friday, August 25th. Vetr upgraded shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price objective on the stock in a research note on Tuesday, July 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Electronic Arts in a research note on Thursday, August 31st. Finally, Barclays PLC started coverage on shares of Electronic Arts in a research note on Wednesday, October 4th. They issued an “overweight” rating and a $129.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Electronic Arts presently has a consensus rating of “Buy” and a consensus target price of $122.75.
In related news, SVP Jacob J. Schatz sold 1,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $120.77, for a total value of $120,770.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $115.25, for a total value of $1,152,500.00. Following the completion of the transaction, the chief financial officer now directly owns 209,614 shares of the company’s stock, valued at $24,158,013.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 184,038 shares of company stock valued at $21,929,310. 2.55% of the stock is owned by corporate insiders.
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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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