Electronic Arts Inc. (NASDAQ:EA) Expected to Post Quarterly Sales of $1.39 Billion

Wall Street analysts expect Electronic Arts Inc. (NASDAQ:EA) to report $1.39 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Nine analysts have made estimates for Electronic Arts’ earnings. The lowest sales estimate is $1.37 billion and the highest is $1.43 billion. Electronic Arts reported sales of $1.21 billion during the same quarter last year, which indicates a positive year over year growth rate of 14.9%. The company is expected to issue its next earnings report after the market closes on Tuesday, May 11th.

On average, analysts expect that Electronic Arts will report full-year sales of $6.07 billion for the current year, with estimates ranging from $5.84 billion to $6.13 billion. For the next fiscal year, analysts expect that the business will post sales of $6.34 billion, with estimates ranging from $5.20 billion to $6.65 billion. Zacks Investment Research’s sales averages 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 results on Monday, February 1st. The game software company reported $3.06 EPS for the quarter, beating the Zacks’ consensus estimate of $2.96 by $0.10. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. Electronic Arts had a net margin of 23.51% and a return on equity of 17.85%. The company’s quarterly revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $2.52 earnings per share.

Several brokerages have recently weighed in on EA. BMO Capital Markets lifted their target price on shares of Electronic Arts from $127.00 to $143.00 and gave the company a “market perform” rating in a research report on Friday, February 5th. Wedbush lifted their price objective on Electronic Arts from $162.50 to $175.00 and gave the company an “outperform” rating in a report on Wednesday, February 3rd. KeyCorp boosted their target price on Electronic Arts from $165.00 to $170.00 and gave the stock an “overweight” rating in a report on Wednesday, April 28th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Electronic Arts from $144.00 to $145.00 and gave the stock a “hold” rating in a research report on Thursday, January 14th. Finally, Benchmark reiterated a “buy” rating and set a $177.00 price target (up previously from $171.00) on shares of Electronic Arts in a research report on Tuesday, February 9th. Eleven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Electronic Arts has a consensus rating of “Buy” and an average target price of $153.29.

In other news, Director Jay C. Hoag sold 90,000 shares of the company’s stock in a transaction on Thursday, February 11th. The shares were sold at an average price of $147.36, for a total transaction of $13,262,400.00. Following the completion of the transaction, the director now directly owns 496 shares in the company, valued at $73,090.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Blake J. Jorgensen sold 5,975 shares of the company’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $145.21, for a total value of $867,629.75. Following the completion of the transaction, the chief financial officer now directly owns 42,848 shares of the company’s stock, valued at approximately $6,221,958.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,710 shares of company stock worth $16,046,419. Company insiders own 0.92% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. SOA Wealth Advisors LLC. bought a new stake in Electronic Arts in the fourth quarter valued at approximately $28,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Electronic Arts by 881.0% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 206 shares of the game software company’s stock valued at $30,000 after purchasing an additional 185 shares during the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Electronic Arts by 81.3% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 223 shares of the game software company’s stock worth $32,000 after buying an additional 100 shares during the period. McIlrath & Eck LLC raised its stake in Electronic Arts by 72.9% during the fourth quarter. McIlrath & Eck LLC now owns 230 shares of the game software company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Finally, Jackson Grant Investment Advisers Inc. acquired a new position in Electronic Arts in the first quarter valued at $33,000. 87.95% of the stock is currently owned by institutional investors.

Shares of NASDAQ:EA traded down $4.12 during midday trading on Thursday, hitting $137.06. The company’s stock had a trading volume of 2,510,826 shares, compared to its average volume of 2,661,030. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.75 and a current ratio of 2.75. The stock’s 50 day simple moving average is $137.83 and its 200 day simple moving average is $135.40. The stock has a market capitalization of $39.42 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.83 and a beta of 0.92. Electronic Arts has a fifty-two week low of $110.15 and a fifty-two week high of $150.30.

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, The Sims, Apex Legends, Need for Speed, and Plants v.

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