Brokerages Anticipate Electronic Arts Inc. (NASDAQ:EA) Will Post Quarterly Sales of $2.66 Billion

Wall Street brokerages expect that Electronic Arts Inc. (NASDAQ:EA) will report $2.66 billion in sales for the current quarter, Zacks reports. Eight analysts have issued estimates for Electronic Arts’ earnings. The lowest sales estimate is $2.63 billion and the highest is $2.70 billion. Electronic Arts reported sales of $2.40 billion in the same quarter last year, which indicates a positive year over year growth rate of 10.8%. The business is expected to report its next earnings report on Tuesday, February 1st.

According to Zacks, analysts expect that Electronic Arts will report full year sales of $7.67 billion for the current year, with estimates ranging from $7.62 billion to $7.72 billion. For the next financial year, analysts forecast that the business will post sales of $8.17 billion, with estimates ranging from $7.84 billion to $8.57 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Electronic Arts.

Electronic Arts (NASDAQ:EA) last announced its quarterly earnings results on Wednesday, November 3rd. The game software company reported $1.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.17 by $0.32. The business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.76 billion. Electronic Arts had a net margin of 12.27% and a return on equity of 18.55%. During the same quarter last year, the firm earned ($0.03) EPS.

EA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Electronic Arts from $175.00 to $177.00 and gave the company a “buy” rating in a report on Thursday, August 5th. Morgan Stanley lifted their target price on shares of Electronic Arts from $150.00 to $155.00 and gave the company an “equal weight” rating in a report on Thursday, August 5th. Robert W. Baird lifted their target price on shares of Electronic Arts from $170.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 4th. TheStreet raised shares of Electronic Arts from a “c+” rating to a “b” rating in a research report on Wednesday, August 4th. Finally, Zacks Investment Research cut shares of Electronic Arts from a “buy” rating to a “hold” rating and set a $144.00 price target for the company. in a research report on Friday, August 6th. Eight research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $166.40.

Electronic Arts stock opened at $126.65 on Friday. Electronic Arts has a fifty-two week low of $120.60 and a fifty-two week high of $150.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50 day moving average price of $137.03 and a 200 day moving average price of $140.31. The company has a market capitalization of $35.82 billion, a PE ratio of 46.73 and a beta of 0.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 22nd. Shareholders of record on Wednesday, December 8th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Tuesday, December 7th. This represents a $0.68 dividend on an annualized basis and a yield of 0.54%. Electronic Arts’s dividend payout ratio is presently 25.09%.

In other news, insider Vijayanthimala Singh sold 800 shares of the business’s stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $145.34, for a total transaction of $116,272.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Chris Bruzzo sold 2,500 shares of the company’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $146.25, for a total transaction of $365,625.00. Following the transaction, the executive vice president now owns 22,158 shares in the company, valued at $3,240,607.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,914 shares of company stock worth $5,083,805. 0.65% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Coldstream Capital Management Inc. lifted its holdings in shares of Electronic Arts by 3.2% in the first quarter. Coldstream Capital Management Inc. now owns 2,329 shares of the game software company’s stock valued at $315,000 after purchasing an additional 72 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of Electronic Arts by 15.0% during the third quarter. Westside Investment Management Inc. now owns 575 shares of the game software company’s stock valued at $81,000 after buying an additional 75 shares during the period. Jackson Creek Investment Advisors LLC lifted its stake in shares of Electronic Arts by 2.6% during the second quarter. Jackson Creek Investment Advisors LLC now owns 3,039 shares of the game software company’s stock valued at $437,000 after buying an additional 77 shares during the period. IFP Advisors Inc lifted its stake in shares of Electronic Arts by 0.4% during the third quarter. IFP Advisors Inc now owns 19,082 shares of the game software company’s stock valued at $2,722,000 after buying an additional 81 shares during the period. Finally, Berman Capital Advisors LLC lifted its stake in shares of Electronic Arts by 5.6% during the third quarter. Berman Capital Advisors LLC now owns 1,522 shares of the game software company’s stock valued at $215,000 after buying an additional 81 shares during the period. 88.97% of the stock is currently owned by institutional investors.

Electronic Arts Company Profile

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, The Sims, Apex Legends, Anthem, Need for Speed, and Plants v.

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

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