$1.01 Billion in Sales Expected for Electronic Arts Inc. (NASDAQ:EA) This Quarter

Equities research analysts expect Electronic Arts Inc. (NASDAQ:EA) to announce sales of $1.01 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Electronic Arts’ earnings. The highest sales estimate is $1.05 billion and the lowest is $982.00 million. Electronic Arts reported sales of $743.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 35.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Electronic Arts will report full year sales of $5.56 billion for the current financial year, with estimates ranging from $5.37 billion to $5.63 billion. For the next fiscal year, analysts forecast that the company will report sales of $5.90 billion, with estimates ranging from $5.64 billion to $6.11 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Electronic Arts.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings data on Tuesday, May 5th. The game software company reported $1.09 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.36. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Electronic Arts had a return on equity of 16.79% and a net margin of 54.88%.

A number of analysts have recently issued reports on EA shares. BidaskClub upgraded Electronic Arts from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 9th. Needham & Company LLC increased their target price on Electronic Arts from $120.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Citigroup increased their target price on Electronic Arts from $110.00 to $120.00 and gave the company a “neutral” rating in a report on Wednesday. SunTrust Banks increased their price objective on Electronic Arts from $118.00 to $131.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Morgan Stanley increased their price objective on Electronic Arts from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. Electronic Arts has a consensus rating of “Buy” and an average price target of $122.64.

In other news, CFO Blake J. Jorgensen sold 5,200 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $117.92, for a total value of $613,184.00. Following the sale, the chief financial officer now directly owns 62,818 shares of the company’s stock, valued at $7,407,498.56. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Chris Bruzzo sold 1,800 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $98.32, for a total value of $176,976.00. Following the completion of the sale, the chief marketing officer now directly owns 22,326 shares in the company, valued at $2,195,092.32. The disclosure for this sale can be found here. Insiders have sold 217,947 shares of company stock worth $24,794,759 over the last three months. Company insiders own 2.18% of the company’s stock.

Several large investors have recently modified their holdings of EA. Engrave Wealth Partners LLC acquired a new stake in shares of Electronic Arts in the fourth quarter valued at about $25,000. Arden Trust Co acquired a new stake in Electronic Arts during the first quarter worth about $26,000. Candriam Luxembourg S.C.A. grew its position in Electronic Arts by 70.8% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 247,399 shares of the game software company’s stock worth $27,000 after buying an additional 102,525 shares in the last quarter. Front Row Advisors LLC grew its position in Electronic Arts by 904.0% during the first quarter. Front Row Advisors LLC now owns 251 shares of the game software company’s stock worth $29,000 after buying an additional 226 shares in the last quarter. Finally, BDO Wealth Advisors LLC acquired a new stake in Electronic Arts during the first quarter worth about $30,000. 91.28% of the stock is currently owned by institutional investors.

Shares of EA traded up $2.46 during mid-day trading on Wednesday, reaching $119.82. The company’s stock had a trading volume of 2,271,158 shares, compared to its average volume of 3,386,283. The business has a fifty day moving average of $113.32 and a 200 day moving average of $106.36. The company has a market cap of $34.00 billion, a price-to-earnings ratio of 11.69, a price-to-earnings-growth ratio of 4.18 and a beta of 0.91. Electronic Arts has a 1 year low of $85.69 and a 1 year high of $121.76. The company has a quick ratio of 2.84, a current ratio of 2.45 and a debt-to-equity ratio of 0.05.

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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Earnings History and Estimates for Electronic Arts (NASDAQ:EA)

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