Equities research analysts at Buckingham Research assumed coverage on shares of Electronic Arts Inc. (NASDAQ:EA) in a report issued on Wednesday. The firm set a “buy” rating on the game software company’s stock.
Several other equities analysts have also issued reports on EA. Credit Suisse Group reiterated a “buy” rating and set a $114.00 target price on shares of Electronic Arts in a report on Sunday, May 28th. Morgan Stanley lifted their target price on shares of Electronic Arts from $114.00 to $126.00 and gave the company an “overweight” rating in a report on Wednesday, June 7th. Mizuho reiterated a “buy” rating and set a $115.00 target price on shares of Electronic Arts in a report on Monday, June 12th. BidaskClub lowered shares of Electronic Arts from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Finally, Benchmark Co. lifted their target price on shares of Electronic Arts from $114.00 to $131.00 and gave the company a “buy” rating in a report on Tuesday, June 20th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Electronic Arts currently has an average rating of “Buy” and a consensus target price of $117.01.
Electronic Arts (NASDAQ EA) opened at 120.21 on Wednesday. Electronic Arts has a 1-year low of $73.74 and a 1-year high of $122.79. The company’s 50-day moving average price is $118.23 and its 200-day moving average price is $106.08. The firm has a market capitalization of $37.11 billion, a P/E ratio of 32.18 and a beta of 0.68.
Electronic Arts (NASDAQ:EA) last released its earnings results on Thursday, July 27th. The game software company reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.22. Electronic Arts had a net margin of 23.31% and a return on equity of 29.77%. The firm had revenue of $775.00 million during the quarter, compared to analyst estimates of $768.47 million. During the same period last year, the business earned $0.07 earnings per share. The business’s revenue was up 13.6% on a year-over-year basis. Equities research analysts expect that Electronic Arts will post $4.24 earnings per share for the current fiscal year.
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In other Electronic Arts news, EVP Chris Bruzzo sold 1,500 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $105.98, for a total value of $158,970.00. Following the sale, the executive vice president now owns 33,345 shares in the company, valued at approximately $3,533,903.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lawrence F. Probst III sold 68,072 shares of the business’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $118.83, for a total transaction of $8,088,995.76. Following the completion of the sale, the director now owns 176,348 shares in the company, valued at approximately $20,955,432.84. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,097 shares of company stock valued at $23,019,378. Insiders own 2.55% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Guardian Life Insurance Co. of America lifted its stake in Electronic Arts by 2.9% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,190 shares of the game software company’s stock worth $107,000 after purchasing an additional 34 shares in the last quarter. Invictus RG lifted its stake in Electronic Arts by 722.0% in the 1st quarter. Invictus RG now owns 1,307 shares of the game software company’s stock worth $117,000 after purchasing an additional 1,148 shares in the last quarter. D. Scott Neal Inc. purchased a new stake in Electronic Arts in the 2nd quarter worth $120,000. Tower Research Capital LLC TRC lifted its stake in Electronic Arts by 310.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,405 shares of the game software company’s stock worth $149,000 after purchasing an additional 1,063 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in Electronic Arts in the 2nd quarter worth $195,000. Institutional investors and hedge funds own 93.84% of the company’s stock.
About Electronic Arts
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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