Electronic Arts’ (EA) Hold Rating Reaffirmed at Benchmark Co.
Benchmark Co. restated their hold rating on shares of Electronic Arts Inc. (NASDAQ:EA) in a report published on Thursday. They currently have a $98.00 target price on the game software company’s stock.
EA has been the subject of a number of other reports. Vetr cut shares of Electronic Arts from a buy rating to a hold rating and set a $80.46 target price for the company. in a research report on Monday, July 11th. Jefferies Group restated a buy rating on shares of Electronic Arts in a research report on Monday, July 18th. Zacks Investment Research upgraded shares of Electronic Arts from a hold rating to a buy rating and set a $92.00 price objective for the company in a research report on Thursday, August 25th. Stifel Nicolaus raised their price objective on shares of Electronic Arts from $83.00 to $87.00 and gave the stock a buy rating in a research report on Monday, September 12th. Finally, BMO Capital Markets restated a hold rating on shares of Electronic Arts in a research report on Thursday, June 16th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $88.04.
Electronic Arts (NASDAQ:EA) opened at 83.17 on Thursday. Electronic Arts has a 1-year low of $53.01 and a 1-year high of $84.45. The company’s 50 day moving average is $81.10 and its 200-day moving average is $73.44. The stock has a market capitalization of $25.01 billion, a PE ratio of 23.43 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings data on Tuesday, August 2nd. The game software company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.09. The business had revenue of $682 million for the quarter, compared to the consensus estimate of $652.64 million. Electronic Arts had a net margin of 25.85% and a return on equity of 24.97%. The company’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. Analysts forecast that Electronic Arts will post $3.63 earnings per share for the current fiscal year.
In related news, EVP Peter R. Moore sold 8,000 shares of the business’s stock in a transaction dated Tuesday, July 5th. The shares were sold at an average price of $75.83, for a total value of $606,640.00. Following the sale, the executive vice president now directly owns 111,732 shares in the company, valued at approximately $8,472,637.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter R. Moore sold 30,798 shares of the company’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $71.70, for a total transaction of $2,208,216.60. Following the completion of the transaction, the executive vice president now owns 150,530 shares in the company, valued at $10,793,001. The disclosure for this sale can be found here. Company insiders own 3.46% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Electronic Arts during the second quarter worth about $923,000. Kentucky Retirement Systems purchased a new position in Electronic Arts during the second quarter worth about $1,943,000. Mason Street Advisors LLC purchased a new position in Electronic Arts during the second quarter worth about $3,078,000. Tobam raised its position in Electronic Arts by 29.2% in the second quarter. Tobam now owns 898,953 shares of the game software company’s stock worth $68,104,000 after buying an additional 203,428 shares during the period. Finally, Royal Bank of Canada raised its position in Electronic Arts by 63.1% in the second quarter. Royal Bank of Canada now owns 443,390 shares of the game software company’s stock worth $33,592,000 after buying an additional 171,463 shares during the period.
Electronic Arts Company Profile
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.
Receive News & Ratings for Electronic Arts Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts Inc. and related companies with MarketBeat.com's FREE daily email newsletter.