Electronic Arts’ (EA) “Buy” Rating Reiterated at Bank of America Corp.
Several other analysts have also recently issued reports on EA. Pacific Crest reaffirmed an equal weight rating on shares of Electronic Arts in a report on Thursday, May 19th. Vetr raised Electronic Arts from a sell rating to a hold rating and set a $71.08 target price on the stock in a research report on Monday, May 23rd. Benchmark Co. boosted their target price on Electronic Arts from $82.64 to $93.80 and gave the company a buy rating in a research report on Monday, May 23rd. Jefferies Group reissued a buy rating and set a $105.00 target price on shares of Electronic Arts in a research report on Monday, June 13th. Finally, BMO Capital Markets reissued a hold rating on shares of Electronic Arts in a research report on Thursday, June 16th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $87.09.
Shares of Electronic Arts (NASDAQ:EA) opened at 82.99 on Friday. Electronic Arts has a 52 week low of $53.01 and a 52 week high of $84.45. The company has a 50-day moving average price of $80.78 and a 200-day moving average price of $73.30. The stock has a market cap of $24.96 billion, a price-to-earnings ratio of 23.38 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $682 million for the quarter, compared to analysts’ expectations of $652.64 million. Electronic Arts had a return on equity of 24.97% and a net margin of 25.85%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Equities analysts anticipate that Electronic Arts will post $3.64 EPS for the current year.
In other news, EVP Peter R. Moore sold 10,000 shares of the stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $83.81, for a total value of $838,100.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Laura Miele sold 2,600 shares of the stock in a transaction dated Wednesday, August 24th. The shares were sold at an average price of $82.21, for a total value of $213,746.00. The disclosure for this sale can be found here. 3.46% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its position in shares of Electronic Arts by 131.2% in the first quarter. Wellington Management Group LLP now owns 1,827,163 shares of the game software company’s stock worth $120,793,000 after buying an additional 1,036,789 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Electronic Arts by 31.4% in the first quarter. Envestnet Asset Management Inc. now owns 72,436 shares of the game software company’s stock worth $4,789,000 after buying an additional 17,292 shares in the last quarter. NEXT Financial Group Inc raised its position in shares of Electronic Arts by 26,401.8% in the second quarter. NEXT Financial Group Inc now owns 14,576 shares of the game software company’s stock worth $1,104,000 after buying an additional 14,521 shares in the last quarter. San Francisco Sentry Investment Group CA raised its position in shares of Electronic Arts by 52.3% in the second quarter. San Francisco Sentry Investment Group CA now owns 4,726 shares of the game software company’s stock worth $358,000 after buying an additional 1,623 shares in the last quarter. Finally, Sensato Investors LLC purchased a new position in shares of Electronic Arts during the first quarter worth $22,861,000.
About Electronic Arts
Electronic Arts Inc is a game software content and services provider. The Company develops, markets, publishes and distributes game software content for consumers of various video game machines and electronic devices. It also provides game software-related services. The Company’s brands include Battlefield, Mass Effect, Need for Speed, Dragon Age, The Sims, Bejeweled and Plants v.
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