Electronic Arts Inc. (NASDAQ:EA) Receives Average Recommendation of “Buy” from Brokerages
Electronic Arts Inc. (NASDAQ:EA) has earned a consensus rating of “Buy” from the twenty-seven brokerages that are covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $116.71.
EA has been the subject of several research analyst reports. Pacific Crest reaffirmed an “overweight” rating and issued a $112.00 price objective on shares of Electronic Arts in a research note on Wednesday, April 26th. Needham & Company LLC initiated coverage on Electronic Arts in a research note on Monday, July 17th. They issued a “buy” rating and a $130.00 price objective for the company. Vetr raised Electronic Arts from a “hold” rating to a “buy” rating and set a $99.98 price objective for the company in a research note on Monday, May 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $135.00 price objective (up from $123.00) on shares of Electronic Arts in a research note on Friday, July 28th. Finally, Bank of America Corporation reaffirmed a “neutral” rating and issued a $104.00 price objective on shares of Electronic Arts in a research note on Monday, May 8th.
Electronic Arts (EA) traded up 1.28% during mid-day trading on Friday, hitting $115.45. The stock had a trading volume of 1,584,977 shares. Electronic Arts has a 12-month low of $73.74 and a 12-month high of $120.25. The stock has a 50-day moving average price of $112.14 and a 200 day moving average price of $99.46. The firm has a market cap of $35.64 billion, a P/E ratio of 30.91 and a beta of 0.72.
Electronic Arts (NASDAQ:EA) last posted its quarterly earnings results on Thursday, July 27th. The game software company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.14 by $0.22. The business had revenue of $775 million during the quarter, compared to analysts’ expectations of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the firm earned $0.07 EPS. Equities analysts anticipate that Electronic Arts will post $4.24 EPS for the current fiscal year.
Electronic Arts announced that its Board of Directors has approved a share buyback plan on Tuesday, May 9th that allows the company to repurchase $1.20 billion in shares. This repurchase authorization allows the game software company to buy up to 45% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
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In related news, EVP Kenneth A. Moss sold 5,000 shares of Electronic Arts stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $116.72, for a total value of $583,600.00. Following the transaction, the executive vice president now owns 99,449 shares in the company, valued at $11,607,687.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Denise Warren sold 1,000 shares of Electronic Arts stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $108.84, for a total value of $108,840.00. Following the completion of the transaction, the director now owns 13,665 shares in the company, valued at approximately $1,487,298.60. The disclosure for this sale can be found here. In the last ninety days, insiders sold 336,915 shares of company stock valued at $37,032,377. Company insiders own 2.55% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of EA. D. Scott Neal Inc. purchased a new position in shares of Electronic Arts during the second quarter worth $120,000. Guardian Life Insurance Co. of America boosted its position in shares of Electronic Arts by 2.9% in the first quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after buying an additional 34 shares during the last quarter. Invictus RG boosted its position in shares of Electronic Arts by 722.0% in the first quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after buying an additional 1,148 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Electronic Arts during the second quarter worth $195,000. Finally, King Luther Capital Management Corp purchased a new position in shares of Electronic Arts during the second quarter worth $224,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.
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