Electronic Arts Inc. (NASDAQ:EA) Expected to Post Quarterly Sales of $732.53 Million

Brokerages expect Electronic Arts Inc. (NASDAQ:EA) to report sales of $732.53 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Electronic Arts’ earnings, with estimates ranging from $690.00 million to $790.00 million. Electronic Arts posted sales of $798.00 million during the same quarter last year, which indicates a negative year-over-year growth rate of 8.2%. The business is expected to issue its next earnings results after the market closes on Tuesday, July 30th.

According to Zacks, analysts expect that Electronic Arts will report full year sales of $5.18 billion for the current year, with estimates ranging from $5.10 billion to $5.45 billion. For the next financial year, analysts expect that the company will post sales of $5.49 billion, with estimates ranging from $5.12 billion to $6.04 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Electronic Arts.

Electronic Arts (NASDAQ:EA) last released its earnings results on Tuesday, May 7th. The game software company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.43. The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.20 billion. Electronic Arts had a return on equity of 22.62% and a net margin of 20.59%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 EPS.

EA has been the subject of a number of recent analyst reports. BidaskClub upgraded Electronic Arts from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. MKM Partners reissued a “neutral” rating and set a $100.00 price target (up previously from $92.00) on shares of Electronic Arts in a report on Friday, May 3rd. They noted that the move was a valuation call. Stephens set a $120.00 price target on Electronic Arts and gave the stock a “buy” rating in a report on Monday, June 24th. SunTrust Banks set a $107.00 price target on Electronic Arts and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, Nomura assumed coverage on Electronic Arts in a report on Thursday, June 6th. They set a “buy” rating and a $120.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $112.74.

In other Electronic Arts news, CFO Blake J. Jorgensen sold 5,200 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $91.79, for a total value of $477,308.00. Following the completion of the transaction, the chief financial officer now owns 111,379 shares of the company’s stock, valued at approximately $10,223,478.41. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Chris Bruzzo sold 9,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $101.38, for a total value of $912,420.00. Following the completion of the transaction, the insider now directly owns 45,771 shares of the company’s stock, valued at approximately $4,640,263.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,544 shares of company stock valued at $10,006,838. Insiders own 2.18% of the company’s stock.

Several hedge funds have recently modified their holdings of EA. Icon Wealth Partners LLC bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $28,000. Valeo Financial Advisors LLC bought a new stake in shares of Electronic Arts during the 2nd quarter valued at about $28,000. North Star Investment Management Corp. bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $29,000. Ropes Wealth Advisors LLC bought a new stake in shares of Electronic Arts during the 1st quarter valued at about $34,000. Finally, Berman Capital Advisors LLC boosted its position in shares of Electronic Arts by 70.6% during the 1st quarter. Berman Capital Advisors LLC now owns 343 shares of the game software company’s stock valued at $34,000 after purchasing an additional 142 shares in the last quarter. 93.64% of the stock is owned by institutional investors.

Shares of NASDAQ:EA traded up $1.60 during trading on Friday, reaching $93.65. 538,991 shares of the company traded hands, compared to its average volume of 5,746,036. The business’s 50 day moving average price is $94.94. The company has a market capitalization of $27.72 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.50 and a beta of 1.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.82 and a quick ratio of 2.82. Electronic Arts has a 52 week low of $73.91 and a 52 week high of $151.26.

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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