Zacks: Brokerages Anticipate Electronic Arts Inc. (NASDAQ: EA) to Report Quarterly Sales of $1.77 Billion
Wall Street analysts expect Electronic Arts Inc. (NASDAQ:EA – Get Rating) to post revenue of $1.77 billion for the current fiscal quarter, according to Zacks. Eight analysts provided earnings estimates for Electronic Arts, with the highest sales estimate at $1.79 billion and the lowest estimate at $1.75 billion. Electronic Arts reported sales of $1.49 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 18.8%. The company is expected to announce its next earnings report on Tuesday, May 10.
On average, analysts expect Electronic Arts to register annual sales of $7.46 billion for the current year, with estimates ranging from $6.95 billion to $7.54 billion. . For the next fiscal year, analysts expect the company to report sales of $8.06 billion, with estimates ranging from $7.84 billion to $8.25 billion. Zacks sales averages are an average based on a survey of sell-side research companies that track Electronic Arts.
Electronic Arts (NASDAQ:EA – Get Rating) last announced its quarterly results on Tuesday, February 1. The gaming software company reported earnings per share of $3.20 for the quarter, beating analyst consensus estimates of $2.81 by $0.39. Electronic Arts achieved a net margin of 9.83% and a return on equity of 18.59%. The company posted revenue of $2.58 billion in the quarter, versus $2.66 billion expected by analysts. In the same period a year earlier, the company earned earnings per share of $2.78. Electronic Arts quarterly revenue increased 7.4% compared to the same quarter last year.
A number of equity research analysts have recently commented on EA’s stock. TheStreet upgraded shares of Electronic Arts from a “b” rating to a “c+” rating in a Tuesday, February 1 report. Raymond James cut his price target on Electronic Arts shares from $185.00 to $158.00 and set an “outperform” rating for the company in a Wednesday, Feb. 2 report. KeyCorp cut its price target on Electronic Arts shares from $180.00 to $165.00 and set an “overweight” rating for the company in a Friday, January 28 report. MKM Partners cut its price target on Electronic Arts shares from $172.00 to $162.00 and set a “buy” rating for the company in a Wednesday, February 2, report. Finally, Deutsche Bank Aktiengesellschaft cut its price target on Electronic Arts shares from $175.00 to $170.00 and set a “buy” rating for the company in a Wednesday, February 2, report. Five investment analysts gave the stock a hold rating and sixteen gave the company a buy rating. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $161.81.
NASDAQ:EA shares opened at $126.26 on Tuesday. The company has a 50-day simple moving average of $132.19 and a 200-day simple moving average of $134.72. Electronic Arts has a one-year low of $120.08 and a one-year high of $148.93. The company has a debt ratio of 0.25, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a market capitalization of $35.51 billion, a price-earnings ratio of 56.87 and a beta of 0.84.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 23. Investors of record on Wednesday, March 9 will receive a dividend of $0.17 per share. This represents an annualized dividend of $0.68 and a dividend yield of 0.54%. The ex-dividend date is Tuesday, March 8. Electronic Arts’ payout ratio is 30.63%.
In other Electronic Arts news, CEO Andrew Wilson sold 10,000 shares in a trade that took place on Friday, January 28. The shares were sold at an average price of $131.01, for a total transaction of $1,310,100.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Additionally, Chief Financial Officer Blake J. Jorgensen sold 3,315 shares in a trade that took place on Wednesday, December 8. The stock was sold at an average price of $126.39, for a total transaction of $418,982.85. The disclosure of this sale can be found here. Insiders have sold 43,845 shares of the company worth $5,744,026 in the past three months. Insiders own 0.65% of the shares of the company.
Several hedge funds have recently changed their holdings in the company. Stephens Inc. AR increased its stake in shares of Electronic Arts by 53.2% in the 4th quarter. Stephens Inc. AR now owns 28,512 shares of the games software company valued at $3,761,000 after acquiring 9,903 additional shares during the period. Parkside Financial Bank & Trust increased its stake in Electronic Arts shares by 336.9% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,350 shares of the gaming software company valued at $178,000 after acquiring an additional 1,041 shares during the period. Quent Capital LLC bought a new position in Electronic Arts stock in Q4 worth $334,000. JustInvest LLC increased its holdings in Electronic Arts by 6.6% during the 4th quarter. JustInvest LLC now owns 4,849 shares of the gaming software company valued at $640,000 after buying 301 additional shares in the last quarter. Finally, BlackRock Inc. increased its stake in Electronic Arts by 1.9% during the 4th quarter. BlackRock Inc. now owns 23,528,573 shares of the gaming software company valued at $3,103,418,000 after buying an additional 436,684 shares last quarter. 89.69% of the shares are currently held by institutional investors and hedge funds.
About Electronic Arts (Get an assessment)
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 in various genres, such as sports, first-person shooter, action, role-playing and simulation, mainly under Battlefield, The Sims, Apex Legends, Anthem, Need for Speed and Plants v.
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