Analysts Anticipate Electronic Arts (EA) Will Announce Quarterly Sales of $1.23 Billion

Equities research analysts predict that Electronic Arts (NASDAQ:EA) will report sales of $1.23 billion for the current quarter, Zacks reports. Eight analysts have made estimates for Electronic Arts’ earnings, with the lowest sales estimate coming in at $1.21 billion and the highest estimate coming in at $1.24 billion. Electronic Arts posted sales of $1.09 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, May 8th.

According to Zacks, analysts expect that Electronic Arts will report full year sales of $5.15 billion for the current year, with estimates ranging from $5.13 billion to $5.17 billion. For the next fiscal year, analysts anticipate that the company will post sales of $5.61 billion per share, with estimates ranging from $5.41 billion to $5.83 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Electronic Arts.

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

A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Electronic Arts from a “sell” rating to a “hold” rating in a research note on Wednesday, January 24th. Benchmark increased their price objective on shares of Electronic Arts from $136.00 to $141.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Morgan Stanley increased their price objective on shares of Electronic Arts from $120.00 to $126.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. KeyCorp increased their price objective on shares of Electronic Arts from $134.00 to $152.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. Finally, Barclays increased their price objective on shares of Electronic Arts from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $132.81.

Electronic Arts stock traded down $1.29 during trading hours on Monday, reaching $119.60. 1,822,399 shares of the stock were exchanged, compared to its average volume of 3,555,993. The company has a market capitalization of $37,080.35, a price-to-earnings ratio of 40.41, a PEG ratio of 1.85 and a beta of 0.80. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.24. Electronic Arts has a twelve month low of $92.31 and a twelve month high of $131.13.

In related news, CEO Andrew Wilson sold 9,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $128.30, for a total value of $1,154,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Jacob J. Schatz sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, April 20th. The shares were sold at an average price of $122.54, for a total transaction of $122,540.00. Following the completion of the transaction, the executive vice president now owns 14,692 shares of the company’s stock, valued at approximately $1,800,357.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,079 shares of company stock valued at $9,992,694. 2.55% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Alaska Department of Revenue raised its holdings in Electronic Arts by 368.4% during the 4th quarter. State of Alaska Department of Revenue now owns 40,509 shares of the game software company’s stock worth $4,253,000 after purchasing an additional 31,860 shares during the last quarter. Fox Run Management L.L.C. bought a new position in Electronic Arts during the 4th quarter worth approximately $654,000. Global X Management Co. LLC raised its holdings in Electronic Arts by 26.4% during the 4th quarter. Global X Management Co. LLC now owns 3,770 shares of the game software company’s stock worth $396,000 after purchasing an additional 788 shares during the last quarter. K.J. Harrison & Partners Inc bought a new position in Electronic Arts during the 4th quarter worth approximately $946,000. Finally, Egerton Capital UK LLP bought a new position in Electronic Arts during the 4th quarter worth approximately $184,412,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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About Electronic Arts

Electronic Arts Inc develops, markets, publishes, and distributes games, content, and services for game consoles, personal computers, mobile phones, and tablets worldwide. It develops and publishes games primarily under the Battlefield, Mass Effect, Need for Speed, The Sims, and Plants v. Zombies brands; and license games from others, such as FIFA, Madden NFL, and Star Wars, as well as publishes and distributes games developed by third parties.

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Earnings History and Estimates for Electronic Arts (NASDAQ:EA)

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