Electronic Arts Inc. (NASDAQ:EA) – Analysts at Jefferies Financial Group cut their Q3 2020 earnings per share (EPS) estimates for Electronic Arts in a note issued to investors on Wednesday, October 16th. Jefferies Financial Group analyst A. Giaimo now expects that the game software company will earn $2.29 per share for the quarter, down from their prior forecast of $2.34. Jefferies Financial Group has a “Hold” rating and a $100.00 price objective on the stock. Jefferies Financial Group also issued estimates for Electronic Arts’ Q4 2020 earnings at $0.68 EPS and FY2020 earnings at $3.63 EPS.
A number of other research analysts have also recently weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $130.00 price target (up previously from $116.00) on shares of Electronic Arts in a report on Tuesday, July 2nd. Atlantic Securities upgraded Electronic Arts from a “neutral” rating to an “overweight” rating in a report on Wednesday, August 7th. Wedbush reiterated an “outperform” rating and issued a $112.00 target price on shares of Electronic Arts in a report on Wednesday, September 4th. Berenberg Bank set a $110.00 target price on Electronic Arts and gave the company a “buy” rating in a report on Thursday, August 22nd. Finally, KeyCorp began coverage on Electronic Arts in a report on Monday, July 29th. They issued a “sector weight” rating on the stock. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $110.54.
Electronic Arts (NASDAQ:EA) last issued its earnings results on Tuesday, July 30th. The game software company reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.16) by ($0.10). Electronic Arts had a net margin of 42.75% and a return on equity of 19.63%. The firm had revenue of $743.00 million during the quarter, compared to analyst estimates of $724.55 million.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Electronic Arts by 0.8% during the second quarter. Vanguard Group Inc. now owns 22,247,309 shares of the game software company’s stock worth $2,252,762,000 after acquiring an additional 176,869 shares during the last quarter. Invesco Ltd. increased its position in shares of Electronic Arts by 15.7% during the second quarter. Invesco Ltd. now owns 6,715,803 shares of the game software company’s stock worth $680,043,000 after acquiring an additional 913,279 shares during the last quarter. Waddell & Reed Financial Inc. increased its position in shares of Electronic Arts by 6.1% during the second quarter. Waddell & Reed Financial Inc. now owns 4,327,338 shares of the game software company’s stock worth $438,186,000 after acquiring an additional 247,824 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Electronic Arts by 24,877.3% during the second quarter. Nuveen Asset Management LLC now owns 3,698,642 shares of the game software company’s stock worth $374,525,000 after acquiring an additional 3,683,834 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Electronic Arts by 2.9% during the second quarter. Northern Trust Corp now owns 3,693,962 shares of the game software company’s stock worth $374,049,000 after acquiring an additional 102,799 shares during the last quarter. 92.45% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Luis A. Ubinas sold 3,389 shares of Electronic Arts stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $89.23, for a total transaction of $302,400.47. Following the sale, the director now directly owns 306 shares of the company’s stock, valued at $27,304.38. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Laura Miele sold 785 shares of Electronic Arts stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $93.25, for a total value of $73,201.25. Following the sale, the insider now directly owns 13,077 shares in the company, valued at $1,219,430.25. The disclosure for this sale can be found here. Insiders sold 58,774 shares of company stock worth $5,609,608 over the last three months. 2.18% of the stock is currently owned by corporate insiders.
Electronic Arts Company Profile
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.
Further Reading: Gap Down Stocks
Receive News & Ratings for Electronic Arts Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Electronic Arts and related companies with MarketBeat.com's FREE daily email newsletter.