Electronic Arts Inc. (EA) Expected to Announce Quarterly Sales of $1.23 Billion

Brokerages expect Electronic Arts Inc. (NASDAQ:EA) to report $1.23 billion in sales for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Electronic Arts’ earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.25 billion. Electronic Arts reported sales of $1.09 billion in the same quarter last year, which indicates a positive year over year growth rate of 12.8%. The business is expected to report its next earnings report on Tuesday, May 8th.

On average, analysts expect that Electronic Arts will report full-year sales of $1.23 billion for the current year, with estimates ranging from $5.13 billion to $5.18 billion. For the next fiscal year, analysts forecast that the firm will report sales of $5.61 billion per share, with estimates ranging from $5.41 billion to $5.84 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Electronic Arts.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, January 30th. The game software company reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.03 by $0.03. The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.02 billion. Electronic Arts had a net margin of 19.67% and a return on equity of 25.42%.

Several equities research analysts have commented on the stock. Zacks Investment Research raised shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Friday, October 27th. Needham & Company LLC reissued a “buy” rating and set a $130.00 price target on shares of Electronic Arts in a research report on Friday, October 13th. Piper Jaffray Companies reissued a “buy” rating and set a $128.00 price target on shares of Electronic Arts in a research report on Thursday, October 12th. SunTrust Banks assumed coverage on shares of Electronic Arts in a research report on Tuesday, October 10th. They set a “buy” rating and a $133.00 price target on the stock. Finally, Wedbush set a $136.00 price target on shares of Electronic Arts and gave the stock a “buy” rating in a research report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-four have issued a buy rating to the company. Electronic Arts presently has an average rating of “Buy” and a consensus price target of $130.34.

Shares of Electronic Arts (NASDAQ EA) opened at $123.13 on Wednesday. The company has a market cap of $38,010.00, a price-to-earnings ratio of 38.72, a P/E/G ratio of 2.27 and a beta of 0.73. Electronic Arts has a 52-week low of $81.27 and a 52-week high of $131.01. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.92 and a quick ratio of 2.38.

In other Electronic Arts news, CFO Blake J. Jorgensen sold 10,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 9th. The shares were sold at an average price of $112.85, for a total value of $1,184,925.00. Following the completion of the transaction, the chief financial officer now directly owns 159,114 shares in the company, valued at approximately $17,956,014.90. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 10,058 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $105.76, for a total transaction of $1,063,734.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,658 shares of company stock valued at $6,297,859. 2.55% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Gerber Kawasaki Wealth & Investment Management lifted its holdings in Electronic Arts by 4.9% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 33,885 shares of the game software company’s stock valued at $3,559,000 after acquiring an additional 1,595 shares during the period. BT Investment Management Ltd lifted its holdings in Electronic Arts by 7.2% in the fourth quarter. BT Investment Management Ltd now owns 76,660 shares of the game software company’s stock valued at $8,054,000 after acquiring an additional 5,138 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Electronic Arts by 6.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 54,274 shares of the game software company’s stock valued at $5,957,000 after acquiring an additional 3,301 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in Electronic Arts by 3.5% in the fourth quarter. Crossmark Global Holdings Inc. now owns 20,397 shares of the game software company’s stock valued at $2,143,000 after acquiring an additional 693 shares during the period. Finally, Stephens Investment Management Group LLC lifted its holdings in Electronic Arts by 32.0% in the fourth quarter. Stephens Investment Management Group LLC now owns 199,885 shares of the game software company’s stock valued at $21,000,000 after acquiring an additional 48,408 shares during the period. Institutional investors own 92.63% of the company’s stock.

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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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