Brokerages expect that Electronic Arts Inc. (NASDAQ:EA) will post earnings of $2.93 per share for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Electronic Arts’ earnings, with the highest EPS estimate coming in at $3.10 and the lowest estimate coming in at $2.70. Electronic Arts reported earnings of $2.79 per share during the same quarter last year, which indicates a positive year over year growth rate of 5%. The company is scheduled to issue its next quarterly earnings report on Thursday, February 4th.
According to Zacks, analysts expect that Electronic Arts will report full-year earnings of $5.47 per share for the current financial year, with EPS estimates ranging from $5.26 to $5.90. For the next year, analysts expect that the firm will report earnings of $5.90 per share, with EPS estimates ranging from $5.56 to $6.25. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Electronic Arts.
A number of equities analysts recently issued reports on the stock. Stifel Nicolaus decreased their price target on shares of Electronic Arts from $163.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, November 9th. They noted that the move was a valuation call. Credit Suisse Group upped their price objective on shares of Electronic Arts from $149.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, November 2nd. Truist cut their price objective on shares of Electronic Arts from $153.00 to $138.00 in a report on Wednesday, November 11th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Electronic Arts from $125.00 to $144.00 and gave the stock a “hold” rating in a report on Tuesday, October 13th. Finally, Piper Sandler cut shares of Electronic Arts from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $157.00 to $133.00 in a report on Friday, November 6th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. Electronic Arts currently has an average rating of “Buy” and an average target price of $141.86.
In other Electronic Arts news, EVP Joel Linzner sold 2,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $139.04, for a total value of $278,080.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Lawrence F. Probst III sold 30,000 shares of the stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $140.26, for a total transaction of $4,207,800.00. The disclosure for this sale can be found here. Insiders sold 576,991 shares of company stock worth $72,461,806 in the last 90 days. 0.92% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Copper Rock Capital Partners LLC raised its position in shares of Electronic Arts by 4,745.5% during the 2nd quarter. Copper Rock Capital Partners LLC now owns 10,506,707 shares of the game software company’s stock valued at $1,225,111,000 after purchasing an additional 10,289,874 shares during the period. FMR LLC grew its stake in Electronic Arts by 24.8% during the second quarter. FMR LLC now owns 12,712,001 shares of the game software company’s stock valued at $1,678,620,000 after acquiring an additional 2,523,364 shares in the last quarter. California Public Employees Retirement System grew its stake in Electronic Arts by 249.8% during the third quarter. California Public Employees Retirement System now owns 2,233,454 shares of the game software company’s stock valued at $291,265,000 after acquiring an additional 1,594,927 shares in the last quarter. Unigestion Holding SA grew its stake in Electronic Arts by 6,589.6% during the second quarter. Unigestion Holding SA now owns 761,807 shares of the game software company’s stock valued at $100,535,000 after acquiring an additional 750,419 shares in the last quarter. Finally, Altshuler Shaham Ltd grew its stake in shares of Electronic Arts by 2,495.0% in the 3rd quarter. Altshuler Shaham Ltd now owns 706,964 shares of the game software company’s stock worth $92,195,000 after buying an additional 679,721 shares in the last quarter. Institutional investors and hedge funds own 81.28% of the company’s stock.
EA stock opened at $121.87 on Tuesday. Electronic Arts has a 1 year low of $85.69 and a 1 year high of $147.36. The company has a market cap of $35.35 billion, a P/E ratio of 27.14, a PEG ratio of 2.46 and a beta of 0.94. The firm has a 50-day moving average of $125.00 and a 200 day moving average of $129.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.75 and a quick ratio of 2.75.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 23rd. Investors of record on Wednesday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Tuesday, December 1st.
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, The Sims, Apex Legends, Need for Speed, and Plants v.
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