Electronic Arts Inc. (NASDAQ:EA) – Investment analysts at Oppenheimer lowered their Q3 2019 earnings estimates for shares of Electronic Arts in a research report issued on Wednesday, October 31st. Oppenheimer analyst A. Uerkwitz now anticipates that the game software company will post earnings per share of $1.77 for the quarter, down from their previous estimate of $1.98.
Several other research analysts have also commented on EA. Morgan Stanley lifted their target price on Electronic Arts from $126.00 to $130.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 11th. UBS Group upgraded Electronic Arts to a “positive” rating in a research report on Thursday, July 12th. Wedbush reiterated a “buy” rating and issued a $158.00 target price on shares of Electronic Arts in a research report on Monday, July 23rd. Stifel Nicolaus lifted their target price on Electronic Arts from $157.00 to $159.00 and gave the stock a “$146.56” rating in a research report on Monday, July 23rd. Finally, BidaskClub lowered Electronic Arts from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Three analysts have rated the stock with a sell rating, five have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company. Electronic Arts has a consensus rating of “Buy” and an average target price of $134.68.
Electronic Arts (NASDAQ:EA) last issued its quarterly earnings data on Tuesday, October 30th. The game software company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.46. Electronic Arts had a return on equity of 26.01% and a net margin of 18.76%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same quarter last year, the firm earned $0.62 EPS. Electronic Arts’s quarterly revenue was up 3.6% on a year-over-year basis.
In related news, General Counsel Jacob J. Schatz sold 1,000 shares of Electronic Arts stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $102.81, for a total value of $102,810.00. Following the transaction, the general counsel now directly owns 17,029 shares in the company, valued at approximately $1,750,751.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Andrew Wilson sold 29,000 shares of Electronic Arts stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $113.13, for a total value of $3,280,770.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at $2,262,600. The disclosure for this sale can be found here. Insiders sold a total of 99,500 shares of company stock worth $11,628,780 in the last three months. Company insiders own 2.24% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of EA. Massachusetts Financial Services Co. MA grew its holdings in shares of Electronic Arts by 31.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 9,697,249 shares of the game software company’s stock worth $1,168,422,000 after acquiring an additional 2,339,158 shares during the last quarter. Egerton Capital UK LLP grew its holdings in shares of Electronic Arts by 79.8% in the 2nd quarter. Egerton Capital UK LLP now owns 4,041,717 shares of the game software company’s stock worth $569,963,000 after acquiring an additional 1,794,024 shares during the last quarter. NN Investment Partners Holdings N.V. grew its holdings in shares of Electronic Arts by 1,315.5% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 1,187,935 shares of the game software company’s stock worth $167,521,000 after acquiring an additional 1,104,012 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Electronic Arts by 3,732.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 951,463 shares of the game software company’s stock worth $4,094,000 after acquiring an additional 926,639 shares during the last quarter. Finally, MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of Electronic Arts in the 3rd quarter worth $66,023,000. Institutional investors and hedge funds own 93.41% of the company’s stock.
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.
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