Electronic Arts Inc. (NASDAQ:EA) – Equities researchers at KeyCorp increased their Q2 2019 EPS estimates for Electronic Arts in a research note issued on Sunday, June 17th. KeyCorp analyst E. Wingren now anticipates that the game software company will earn $0.69 per share for the quarter, up from their previous forecast of $0.64. KeyCorp currently has a “Overweight” rating and a $168.00 target price on the stock. KeyCorp also issued estimates for Electronic Arts’ FY2019 earnings at $4.62 EPS.
Several other research firms have also issued reports on EA. BidaskClub raised Electronic Arts from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Benchmark reissued a “buy” rating and set a $164.00 target price on shares of Electronic Arts in a research note on Monday. Stifel Nicolaus increased their target price on Electronic Arts from $144.00 to $157.00 and gave the stock a “buy” rating in a research note on Friday, June 15th. Wedbush set a $138.00 target price on Electronic Arts and gave the stock a “buy” rating in a research note on Thursday, May 3rd. Finally, Zacks Investment Research raised Electronic Arts from a “sell” rating to a “hold” rating in a research note on Monday, May 14th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. Electronic Arts has a consensus rating of “Buy” and an average target price of $143.39.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, May 8th. The game software company reported $1.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.14. Electronic Arts had a return on equity of 28.51% and a net margin of 20.25%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.23 billion.
In other news, CFO Blake J. Jorgensen sold 10,500 shares of the stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $119.57, for a total value of $1,255,485.00. Following the transaction, the chief financial officer now owns 127,614 shares in the company, valued at approximately $15,258,805.98. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Andrew Wilson sold 9,000 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $118.77, for a total value of $1,068,930.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,142 shares of company stock worth $22,927,436. 2.55% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in EA. Ibex Wealth Advisors grew its stake in Electronic Arts by 3.2% during the 1st quarter. Ibex Wealth Advisors now owns 24,589 shares of the game software company’s stock worth $2,919,000 after buying an additional 758 shares during the last quarter. Suntrust Banks Inc. grew its stake in Electronic Arts by 28.0% during the 1st quarter. Suntrust Banks Inc. now owns 27,454 shares of the game software company’s stock worth $3,327,000 after buying an additional 6,010 shares during the last quarter. Amalgamated Bank grew its stake in Electronic Arts by 10.8% during the 1st quarter. Amalgamated Bank now owns 44,041 shares of the game software company’s stock worth $5,340,000 after buying an additional 4,300 shares during the last quarter. Summit Trail Advisors LLC grew its stake in Electronic Arts by 13,456.4% during the 1st quarter. Summit Trail Advisors LLC now owns 176,640 shares of the game software company’s stock worth $177,000 after buying an additional 175,337 shares during the last quarter. Finally, CIBC World Markets Inc. grew its stake in Electronic Arts by 69.7% during the 1st quarter. CIBC World Markets Inc. now owns 47,790 shares of the game software company’s stock worth $5,794,000 after buying an additional 19,624 shares during the last quarter. Institutional investors and hedge funds own 92.59% of the company’s stock.
Electronic Arts Company Profile
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.
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