Brokerages predict that Electronic Arts Inc. (NASDAQ:EA) will post $1.24 billion in sales for the current quarter, Zacks reports. Ten analysts have issued estimates for Electronic Arts’ earnings. The lowest sales estimate is $1.23 billion and the highest is $1.27 billion. Electronic Arts reported sales of $1.22 billion in the same quarter last year, which indicates a positive year over year growth rate of 1.6%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 29th.
According to Zacks, analysts expect that Electronic Arts will report full-year sales of $5.17 billion for the current financial year, with estimates ranging from $5.13 billion to $5.20 billion. For the next financial year, analysts forecast that the firm will report sales of $5.48 billion, with estimates ranging from $5.25 billion to $5.99 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Electronic Arts.
EA has been the subject of several research reports. Stephens set a $120.00 price objective on Electronic Arts and gave the stock a “buy” rating in a research report on Monday, June 24th. Sanford C. Bernstein set a $121.00 price objective on Electronic Arts and gave the stock a “buy” rating in a research report on Wednesday, July 31st. BidaskClub downgraded Electronic Arts from a “hold” rating to a “sell” rating in a research report on Friday, July 19th. Robert W. Baird lifted their price objective on Electronic Arts to $114.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 8th. Finally, Benchmark restated a “buy” rating and set a $129.00 price objective (up from $120.00) on shares of Electronic Arts in a research report on Wednesday, May 8th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $113.10.
In other news, insider Laura Miele sold 1,250 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $92.20, for a total value of $115,250.00. Following the sale, the insider now owns 15,504 shares in the company, valued at approximately $1,429,468.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vijayanthimala Singh sold 500 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $92.92, for a total transaction of $46,460.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 88,983 shares of company stock valued at $8,659,098. 2.18% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC bought a new stake in Electronic Arts during the first quarter worth approximately $28,000. Valeo Financial Advisors LLC purchased a new stake in shares of Electronic Arts in the 2nd quarter valued at approximately $28,000. Berman Capital Advisors LLC lifted its position in shares of Electronic Arts by 70.6% in the 1st quarter. Berman Capital Advisors LLC now owns 343 shares of the game software company’s stock valued at $34,000 after acquiring an additional 142 shares in the last quarter. Cornerstone Advisors Inc. lifted its position in shares of Electronic Arts by 86.6% in the 1st quarter. Cornerstone Advisors Inc. now owns 349 shares of the game software company’s stock valued at $35,000 after acquiring an additional 162 shares in the last quarter. Finally, Bremer Bank National Association purchased a new stake in shares of Electronic Arts in the 1st quarter valued at approximately $34,000. Hedge funds and other institutional investors own 92.43% 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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