Electronic Arts Inc. (NASDAQ:EA) – SunTrust Banks cut their FY2019 earnings estimates for Electronic Arts in a research report issued on Tuesday, January 8th, according to Zacks Investment Research. SunTrust Banks analyst M. Thornton now anticipates that the game software company will post earnings of $3.92 per share for the year, down from their previous forecast of $3.96. SunTrust Banks has a “Buy” rating and a $105.00 price objective on the stock.
Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, October 30th. The game software company reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.46. Electronic Arts had a net margin of 18.76% and a return on equity of 26.01%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business earned $0.62 EPS. Electronic Arts’s revenue for the quarter was up 3.6% compared to the same quarter last year.
Other research analysts have also issued reports about the stock. Piper Jaffray Companies dropped their price objective on shares of Electronic Arts from $148.00 to $105.00 and set an “overweight” rating on the stock in a research note on Monday, December 10th. Wedbush set a $133.00 price objective on shares of Electronic Arts and gave the company a “buy” rating in a research note on Wednesday, October 31st. TheStreet lowered shares of Electronic Arts from a “b-” rating to a “c+” rating in a research note on Friday, November 30th. BidaskClub downgraded shares of Electronic Arts from a “hold” rating to a “sell” rating in a report on Saturday, October 6th. Finally, UBS Group lowered their target price on shares of Electronic Arts from $166.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $128.04.
NASDAQ EA opened at $91.74 on Thursday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $27.64 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 1.58 and a beta of 1.00. Electronic Arts has a one year low of $73.91 and a one year high of $151.26.
In other news, insider Laura Miele sold 1,250 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $79.51, for a total value of $99,387.50. Following the completion of the transaction, the insider now owns 8,461 shares of the company’s stock, valued at $672,734.11. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Andrew Wilson sold 9,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The shares were sold at an average price of $79.57, for a total transaction of $716,130.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,700 shares of company stock valued at $4,422,201. 2.24% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Columbus Hill Capital Management L.P. acquired a new position in Electronic Arts during the third quarter worth approximately $1,205,000. Bank of New York Mellon Corp increased its position in Electronic Arts by 3.7% during the third quarter. Bank of New York Mellon Corp now owns 4,061,892 shares of the game software company’s stock worth $489,417,000 after purchasing an additional 145,570 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Electronic Arts by 27.8% during the third quarter. Thrivent Financial for Lutherans now owns 16,464 shares of the game software company’s stock worth $1,984,000 after purchasing an additional 3,580 shares during the last quarter. Morgan Stanley increased its position in Electronic Arts by 95.2% during the third quarter. Morgan Stanley now owns 621,359 shares of the game software company’s stock worth $74,868,000 after purchasing an additional 302,980 shares during the last quarter. Finally, Allen Investment Management LLC increased its position in Electronic Arts by 67.6% during the third quarter. Allen Investment Management LLC now owns 18,417 shares of the game software company’s stock worth $2,219,000 after purchasing an additional 7,427 shares during the last quarter. 94.98% of the stock is owned by hedge funds and other institutional investors.
About Electronic Arts
Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, PCs, mobile phones, and tablets worldwide. The company develops and publishes games and services across various genres, such as sports, first-person shooter, action, role-playing, and simulation primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v.