Electronic Arts Inc. (NASDAQ:EA) to Post Q3 2018 Earnings of $1.94 Per Share, KeyCorp Forecasts

Electronic Arts Inc. (NASDAQ:EA) – Analysts at KeyCorp reduced their Q3 2018 EPS estimates for shares of Electronic Arts in a research note issued to investors on Monday, Zacks Investment Research reports. KeyCorp analyst E. Wingren now anticipates that the game software company will earn $1.94 per share for the quarter, down from their prior forecast of $2.07. KeyCorp has a “Overweight” rating and a $152.00 price objective on the stock. KeyCorp also issued estimates for Electronic Arts’ Q4 2018 earnings at $0.93 EPS, Q1 2019 earnings at $0.03 EPS and Q3 2019 earnings at $2.76 EPS.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Tuesday, January 30th. The game software company reported $2.06 EPS for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.03. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.02 billion. Electronic Arts had a net margin of 19.67% and a return on equity of 25.42%.

A number of other equities analysts also recently issued reports on EA. Vetr raised shares of Electronic Arts from a “sell” rating to a “hold” rating and set a $117.32 price objective on the stock in a report on Thursday, February 8th. BMO Capital Markets lifted their price objective on shares of Electronic Arts to $150.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Zacks Investment Research raised shares of Electronic Arts from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Stifel Nicolaus lifted their price objective on shares of Electronic Arts from $129.00 to $141.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $135.00 price objective on shares of Electronic Arts in a report on Wednesday, January 31st. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $130.34.

Shares of Electronic Arts (NASDAQ:EA) opened at $123.77 on Tuesday. The company has a market cap of $37,506.70, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 2.22 and a beta of 0.73. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.92 and a current ratio of 1.92. Electronic Arts has a one year low of $85.23 and a one year high of $131.01.

Several institutional investors and hedge funds have recently made changes to their positions in EA. Brown Advisory Inc. increased its position in shares of Electronic Arts by 25,746.6% during the fourth quarter. Brown Advisory Inc. now owns 2,096,933 shares of the game software company’s stock valued at $220,305,000 after buying an additional 2,088,820 shares during the period. Egerton Capital UK LLP bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $184,412,000. Flossbach Von Storch AG bought a new position in shares of Electronic Arts in the fourth quarter worth approximately $139,782,000. Assenagon Asset Management S.A. bought a new position in shares of Electronic Arts in the third quarter worth approximately $148,789,000. Finally, Old Mutual Global Investors UK Ltd. increased its position in shares of Electronic Arts by 161.6% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 1,542,907 shares of the game software company’s stock worth $162,097,000 after purchasing an additional 953,148 shares during the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.

In other Electronic Arts news, SVP Jacob J. Schatz sold 1,000 shares of the company’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $108.28, for a total transaction of $108,280.00. Following the sale, the senior vice president now directly owns 19,950 shares of the company’s stock, valued at $2,160,186. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Blake J. Jorgensen sold 10,500 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $112.85, for a total transaction of $1,184,925.00. Following the sale, the chief financial officer now directly owns 159,114 shares in the company, valued at $17,956,014.90. The disclosure for this sale can be found here. Insiders sold a total of 67,158 shares of company stock worth $7,546,309 over the last three months. 2.55% of the stock is owned by insiders.

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About Electronic Arts

Electronic Arts Inc develops, markets, publishes and distributes games, content and services that can be played by consumers on a range of platforms, which include consoles, personal computers (PCs), mobile phones and tablets. The Company’s games and services are based on a portfolio of intellectual property that includes established brands, such as FIFA, Madden NFL, Star Wars, Battlefield, the Sims and Need for Speed.

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