Electronic Arts Inc. (NASDAQ:EA) Expected to Post Q3 2020 Earnings of $2.29 Per Share

Electronic Arts Inc. (NASDAQ:EA) – Stock analysts at Jefferies Financial Group lowered their Q3 2020 earnings per share estimates for Electronic Arts in a research note issued to investors on Wednesday, October 16th. Jefferies Financial Group analyst A. Giaimo now expects that the game software company will post earnings per share of $2.29 for the quarter, down from their previous forecast of $2.34. Jefferies Financial Group currently has a “Hold” rating and a $100.00 target price on the stock. Jefferies Financial Group also issued estimates for Electronic Arts’ Q4 2020 earnings at $0.68 EPS and FY2020 earnings at $3.63 EPS.

EA has been the subject of a number of other reports. TheStreet upgraded shares of Electronic Arts from a “c+” rating to a “b” rating in a report on Tuesday, July 30th. Bank of America upped their price objective on shares of Electronic Arts from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Zacks Investment Research upgraded shares of Electronic Arts from a “hold” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Friday, August 2nd. Stephens reiterated a “buy” rating on shares of Electronic Arts in a report on Wednesday, August 21st. Finally, Wedbush reiterated an “outperform” rating and issued a $112.00 price objective on shares of Electronic Arts in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $110.54.

Electronic Arts stock opened at $94.30 on Monday. The company’s fifty day simple moving average is $94.99 and its 200-day simple moving average is $94.61. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.15. Electronic Arts has a 12 month low of $73.91 and a 12 month high of $108.80. The stock has a market cap of $28.04 billion, a P/E ratio of 23.99, a P/E/G ratio of 4.41 and a beta of 0.95.

Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Tuesday, July 30th. The game software company reported ($0.26) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.10). Electronic Arts had a net margin of 42.75% and a return on equity of 19.63%. The company had revenue of $743.00 million for the quarter, compared to analysts’ expectations of $724.55 million.

Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Electronic Arts by 0.8% during the second quarter. Vanguard Group Inc. now owns 22,247,309 shares of the game software company’s stock valued at $2,252,762,000 after purchasing an additional 176,869 shares during the last quarter. Invesco Ltd. grew its stake in shares of Electronic Arts by 15.7% during the second quarter. Invesco Ltd. now owns 6,715,803 shares of the game software company’s stock valued at $680,043,000 after purchasing an additional 913,279 shares during the last quarter. Waddell & Reed Financial Inc. grew its stake in shares of Electronic Arts by 6.1% during the second quarter. Waddell & Reed Financial Inc. now owns 4,327,338 shares of the game software company’s stock valued at $438,186,000 after purchasing an additional 247,824 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Electronic Arts by 24,877.3% during the second quarter. Nuveen Asset Management LLC now owns 3,698,642 shares of the game software company’s stock valued at $374,525,000 after purchasing an additional 3,683,834 shares during the last quarter. Finally, Northern Trust Corp grew its stake in shares of Electronic Arts by 2.9% during the second quarter. Northern Trust Corp now owns 3,693,962 shares of the game software company’s stock valued at $374,049,000 after purchasing an additional 102,799 shares during the last quarter. 92.45% of the stock is currently owned by hedge funds and other institutional investors.

In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,200 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $92.85, for a total transaction of $482,820.00. Following the sale, the chief financial officer now directly owns 93,875 shares of the company’s stock, valued at $8,716,293.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laura Miele sold 785 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $93.25, for a total transaction of $73,201.25. Following the sale, the insider now directly owns 13,077 shares in the company, valued at $1,219,430.25. The disclosure for this sale can be found here. Insiders sold 58,774 shares of company stock valued at $5,609,608 in the last three months. Company insiders own 2.18% 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. 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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Earnings History and Estimates for Electronic Arts (NASDAQ:EA)

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