$1.16 Billion in Sales Expected for Electronic Arts Inc. (NASDAQ:EA) This Quarter
Analysts expect Electronic Arts Inc. (NASDAQ:EA) to post $1.16 billion in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Electronic Arts’ earnings, with estimates ranging from $1.16 billion to $1.17 billion. Electronic Arts reported sales of $1.10 billion in the same quarter last year, which would suggest a positive year over year growth rate of 5.5%. The business is scheduled to report its next earnings results on Tuesday, November 7th.
On average, analysts expect that Electronic Arts will report full year sales of $1.16 billion for the current financial year, with estimates ranging from $5.11 billion to $5.22 billion. For the next financial 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 Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Electronic Arts.
Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.22. The company had revenue of $775 million for the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 earnings per share.
Several research firms have recently issued reports on EA. Vetr raised shares of Electronic Arts from a “buy” rating to a “strong-buy” rating and set a $125.00 price target for the company in a research note on Tuesday, July 4th. BidaskClub downgraded shares of Electronic Arts from a “buy” rating to a “hold” rating in a research note on Friday, June 30th. Benchmark Co. raised their price target on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised shares of Electronic Arts from a “sell” rating to a “hold” rating in a research note on Wednesday, May 3rd. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $80.00 price target on shares of Electronic Arts in a research note on Thursday, April 13th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $115.19.
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Shares of Electronic Arts (NASDAQ:EA) opened at 116.11 on Thursday. Electronic Arts has a 12-month low of $73.74 and a 12-month high of $120.25. The firm’s 50-day moving average price is $112.04 and its 200-day moving average price is $99.10. The firm has a market capitalization of $35.88 billion, a P/E ratio of 31.09 and a beta of 0.72.
Electronic Arts announced that its Board of Directors has approved a stock repurchase program on Tuesday, May 9th that authorizes the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization authorizes the game software company to reacquire up to 45% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
In other news, Director Denise Warren sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total value of $108,840.00. Following the sale, the director now owns 13,665 shares of the company’s stock, valued at $1,487,298.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Joel Linzner sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $100.34, for a total transaction of $1,003,400.00. Following the completion of the sale, the executive vice president now directly owns 26,745 shares in the company, valued at approximately $2,683,593.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,915 shares of company stock worth $37,032,377. Insiders own 2.55% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. TimesSquare Capital Management LLC raised its stake in Electronic Arts by 0.5% in the first quarter. TimesSquare Capital Management LLC now owns 767,500 shares of the game software company’s stock valued at $68,707,000 after buying an additional 3,600 shares during the period. Foundry Partners LLC boosted its position in shares of Electronic Arts by 17.9% in the first quarter. Foundry Partners LLC now owns 13,944 shares of the game software company’s stock valued at $1,248,000 after buying an additional 2,116 shares in the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Electronic Arts by 529.3% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 50,647 shares of the game software company’s stock valued at $5,354,000 after buying an additional 42,599 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Electronic Arts by 15.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 8,077,235 shares of the game software company’s stock valued at $723,074,000 after buying an additional 1,064,602 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Electronic Arts by 2.8% in the first quarter. State Street Corp now owns 11,886,458 shares of the game software company’s stock valued at $1,064,069,000 after buying an additional 318,704 shares in the last quarter. 98.02% of the stock is currently owned by institutional investors.
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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