Jefferies Group LLC reiterated their buy rating on shares of Electronic Arts Inc. (NASDAQ:EA) in a report released on Friday, July 28th. They currently have a $135.00 target price on the game software company’s stock, up from their prior target price of $123.00.
A number of other analysts also recently weighed in on the company. Vetr upgraded Electronic Arts from a buy rating to a strong-buy rating and set a $125.00 target price for the company in a research report on Tuesday, July 4th. BidaskClub downgraded Electronic Arts from a buy rating to a hold rating in a research report on Friday, June 30th. Benchmark Co. boosted their target price on Electronic Arts from $114.00 to $131.00 and gave the stock a buy rating in a research report on Tuesday, June 20th. Zacks Investment Research upgraded Electronic Arts from a sell rating to a hold rating in a research report on Wednesday, May 3rd. Finally, BMO Capital Markets restated a hold rating and issued a $80.00 target price on shares of Electronic Arts in a research report on Thursday, April 13th. 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 company has a consensus rating of Buy and an average price target of $115.19.
Electronic Arts (EA) traded up 0.78% during trading on Friday, hitting $117.38. 1,030,188 shares of the company’s stock traded hands. Electronic Arts has a 52-week low of $73.74 and a 52-week high of $120.25. The company has a market cap of $36.24 billion, a PE ratio of 31.43 and a beta of 0.72. The company’s 50 day moving average price is $113.01 and its 200 day moving average price is $100.49.
Electronic Arts (NASDAQ:EA) last released its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.22. The company had revenue of $775 million during the quarter, compared to the consensus estimate of $768.47 million. Electronic Arts had a return on equity of 29.77% and a net margin of 23.31%. Electronic Arts’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.07 EPS. Analysts expect that Electronic Arts will post $4.24 earnings per share for the current year.
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Electronic Arts announced that its Board of Directors has authorized a stock buyback program on Tuesday, May 9th that permits the company to repurchase $1.20 billion in outstanding shares. This repurchase authorization permits the game software company to purchase up to 45% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other news, CFO Blake J. Jorgensen sold 10,000 shares of the stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $107.90, for a total value of $1,079,000.00. Following the sale, the chief financial officer now directly owns 229,614 shares of the company’s stock, valued at $24,775,350.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 10,965 shares of the stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $108.00, for a total value of $1,184,220.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,552 shares of company stock worth $29,989,829. 2.55% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. D. Scott Neal Inc. bought a new stake in Electronic Arts during the second quarter worth approximately $120,000. Guardian Life Insurance Co. of America boosted its stake in 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 in the last quarter. Invictus RG boosted its stake in 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 in the last quarter. Tower Research Capital LLC TRC boosted its stake in Electronic Arts by 310.8% in the second quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after buying an additional 1,063 shares in the last quarter. Finally, Captrust Financial Advisors bought a new stake in Electronic Arts during the second quarter worth approximately $195,000. 97.31% of the stock is currently owned by hedge funds and other institutional investors.
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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