Electronic Arts Inc. (NASDAQ:EA) – Stock analysts at KeyCorp increased their FY2019 earnings per share estimates for Electronic Arts in a research note issued to investors on Monday, April 15th. KeyCorp analyst E. Wingren now expects that the game software company will post earnings per share of $3.32 for the year, up from their previous forecast of $3.11. KeyCorp also issued estimates for Electronic Arts’ Q4 2019 earnings at $0.91 EPS and FY2020 earnings at $3.86 EPS.
EA has been the subject of several other research reports. SunTrust Banks set a $105.00 price target on Electronic Arts and gave the stock a “buy” rating in a report on Tuesday, January 8th. Benchmark decreased their target price on Electronic Arts from $153.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, February 6th. They noted that the move was a valuation call. Zacks Investment Research downgraded Electronic Arts from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. ValuEngine downgraded Electronic Arts from a “hold” rating to a “sell” rating in a report on Thursday, February 7th. Finally, Robert W. Baird lifted their target price on Electronic Arts to $106.00 and gave the stock an “outperform” rating in a report on Tuesday, February 12th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $112.04.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings results on Tuesday, February 5th. The game software company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.75 by $0.12. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.75 billion. Electronic Arts had a return on equity of 23.21% and a net margin of 26.77%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.60) earnings per share.
A number of hedge funds have recently made changes to their positions in EA. Quinn Opportunity Partners LLC increased its position in shares of Electronic Arts by 150.0% in the fourth quarter. Quinn Opportunity Partners LLC now owns 10,000 shares of the game software company’s stock valued at $789,000 after buying an additional 6,000 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Electronic Arts by 27.8% in the third quarter. Thrivent Financial for Lutherans now owns 16,464 shares of the game software company’s stock valued at $1,984,000 after buying an additional 3,580 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Electronic Arts by 3.7% in the third quarter. Bank of New York Mellon Corp now owns 4,061,892 shares of the game software company’s stock worth $489,417,000 after acquiring an additional 145,570 shares during the last quarter. Morgan Stanley boosted its stake in shares of Electronic Arts by 95.2% in the third quarter. Morgan Stanley now owns 621,359 shares of the game software company’s stock worth $74,868,000 after acquiring an additional 302,980 shares during the last quarter. Finally, Weatherly Asset Management L. P. boosted its stake in shares of Electronic Arts by 42.8% in the fourth quarter. Weatherly Asset Management L. P. now owns 8,153 shares of the game software company’s stock worth $643,000 after acquiring an additional 2,445 shares during the last quarter. Institutional investors own 92.91% of the company’s stock.
In related news, CEO Andrew Wilson sold 9,000 shares of Electronic Arts stock in a transaction that occurred on Friday, February 1st. The stock was sold at an average price of $91.77, for a total transaction of $825,930.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard S. Coleman, Jr. sold 10,000 shares of Electronic Arts stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $100.55, for a total value of $1,005,500.00. Following the transaction, the director now owns 27,371 shares of the company’s stock, valued at $2,752,154.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 82,500 shares of company stock valued at $8,266,003. 2.24% of the stock is owned by company insiders.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.
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