Raymond James Raises Electronic Arts (NASDAQ:EA) Price Target to $170.00

Electronic Arts (NASDAQ:EA) had its price target increased by Raymond James from $155.00 to $170.00 in a research note released on Wednesday, Benzinga reports. They currently have an outperform rating on the game software company’s stock.

Several other brokerages also recently issued reports on EA. Stifel Nicolaus raised their price objective on shares of Electronic Arts from $165.00 to $167.00 and gave the stock a buy rating in a research report on Wednesday. Citigroup cut Electronic Arts from a buy rating to a neutral rating and boosted their price target for the company from $148.00 to $161.00 in a research report on Monday, July 15th. Bank of America increased their price objective on Electronic Arts from $150.00 to $170.00 and gave the stock a buy rating in a research report on Wednesday. Roth Mkm upped their price target on Electronic Arts from $135.00 to $152.00 and gave the stock a neutral rating in a research note on Monday, July 29th. Finally, Oppenheimer lifted their price objective on shares of Electronic Arts from $150.00 to $170.00 and gave the company an outperform rating in a research report on Tuesday, July 16th. Nine equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average price target of $160.16.

Electronic Arts Price Performance

Electronic Arts stock opened at $148.83 on Wednesday. The stock has a market cap of $39.55 billion, a P/E ratio of 31.80, a price-to-earnings-growth ratio of 2.36 and a beta of 0.79. The company has a fifty day simple moving average of $140.16 and a 200-day simple moving average of $135.98. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.25. Electronic Arts has a 12-month low of $117.47 and a 12-month high of $153.51.

Electronic Arts (NASDAQ:EA) last released its quarterly earnings data on Tuesday, May 7th. The game software company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.09 by ($0.17). The business had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.78 billion. Electronic Arts had a return on equity of 16.26% and a net margin of 15.77%. Equities analysts expect that Electronic Arts will post 5.76 EPS for the current fiscal year.

Electronic Arts Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 18th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.51%. Electronic Arts’s dividend payout ratio (DPR) is presently 16.24%.

Insider Buying and Selling

In other Electronic Arts news, CEO Andrew Wilson sold 4,639 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $134.15, for a total transaction of $622,321.85. Following the completion of the transaction, the chief executive officer now directly owns 66,747 shares of the company’s stock, valued at approximately $8,954,110.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Eric Charles Kelly sold 3,000 shares of Electronic Arts stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $133.75, for a total value of $401,250.00. Following the transaction, the chief accounting officer now directly owns 7,458 shares of the company’s stock, valued at $997,507.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 4,639 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $134.15, for a total transaction of $622,321.85. Following the sale, the chief executive officer now directly owns 66,747 shares in the company, valued at $8,954,110.05. The disclosure for this sale can be found here. Insiders sold 23,239 shares of company stock valued at $3,197,469 over the last 90 days. 0.22% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Electronic Arts

A number of large investors have recently made changes to their positions in the business. Jennison Associates LLC raised its holdings in Electronic Arts by 1.3% during the fourth quarter. Jennison Associates LLC now owns 6,339 shares of the game software company’s stock valued at $867,000 after buying an additional 84 shares in the last quarter. Grove Bank & Trust lifted its holdings in Electronic Arts by 23.5% in the 2nd quarter. Grove Bank & Trust now owns 494 shares of the game software company’s stock worth $69,000 after purchasing an additional 94 shares during the last quarter. MCF Advisors LLC boosted its position in Electronic Arts by 36.9% during the fourth quarter. MCF Advisors LLC now owns 356 shares of the game software company’s stock worth $49,000 after purchasing an additional 96 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in Electronic Arts by 4.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,194 shares of the game software company’s stock valued at $291,000 after purchasing an additional 97 shares during the last quarter. Finally, Claro Advisors LLC raised its position in shares of Electronic Arts by 5.6% in the first quarter. Claro Advisors LLC now owns 1,881 shares of the game software company’s stock valued at $250,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 90.23% of the company’s stock.

Electronic Arts Company Profile

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. It develops and publishes games and services across various genres, such as sports, racing, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, The Sims, Apex Legends, Need for Speed, and license games from others, including FIFA, Madden NFL, UFC, and Star Wars brands.